Print Options
PrintThe Whole
Instrument
PrintThe Whole
Cross Heading
PrintThis
Section
only
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Credits to a frozen account
This section has no associated Explanatory Memorandum
31.—(1) Articles 26 and 27 are not contravened by a person who credits a frozen account with—
(a)interest or other earnings due on the account, or
(b)payments due under contracts, agreements or obligations that were concluded or arose before the account became a frozen account.
(2) Articles 26 and 27 do not prevent a relevant institution from crediting a frozen account where it receives funds transferred to the account.
Back to top