SCHEDULES

SCHEDULE 2Treasury licences: purposes

PART 3Purposes relating only to non-UN designated persons

Prior obligations

8.

To enable, by the use of a designated person's frozen funds or economic resources, the satisfaction of an obligation of that person (whether arising under a contract, other agreement or otherwise), provided that—

(a)

the obligation arose before the date on which the person became a designated person, and

(b)

no payments are made to another designated person, whether directly or indirectly.