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No, the Iran Contra scandal happened during the Ronald Reagan Administration.
Reagan, most known for the "Iran-Contra Affair", was the 40th president of the United States. The Iran-Contra Affair occured when several administration staffers were convicted of crimes ranging from lying to Congress to conspiracy to defraud the U.S. The scandal involved the administration selling weapons to Iran and using proceeds from the sales to fund the "Contras", a guerrilla insurgent group in Nicaragua.
President Reagan was involved in the Iran-Contra Affair through his administration's covert operation to sell arms to Iran, despite an arms embargo, in exchange for the release of hostages held in Lebanon. The funds from these arms sales were then funneled to support Contra rebels in Nicaragua, which was prohibited by Congress. While Reagan claimed to have no knowledge of the diversion of funds to the Contras, investigations revealed that key members of his administration were involved in the illegal activities.
Margaret Thatcher
no