(1) Subject to the provisions of subsection (2) the Permanent Secretary may grant a licence for the export of any export restricted goods.
(2) A licence shall not be granted by the Permanent Secretary for the export of any export restricted goods if in his or her opinion the export of any such goods would, or would be likely to prejudice any trade agreement or arrangement in respect of internal or external trade or currency entered into or approved by or on behalf of the Government.