Making economic resources available for the benefit of a designated personU.K.
This section has no associated Explanatory Memorandum
7.—(1) A person (“P”) must not make economic resources available to any person for the benefit of a designated person if P knows, or has reasonable grounds to suspect, that P is making the economic resources so available.
(2) For the purposes of this regulation—
(a)economic resources are made available for the benefit of a designated person only if that person thereby obtains, or is able to obtain, a significant financial benefit, and
(b)“financial benefit” includes the discharge of a financial obligation for which the designated person is wholly or partly responsible.
(3) Paragraph (1) is subject to regulation 9.