PART 2Funds and Economic Resources
Credits to a frozen account8
1
The prohibitions in regulations 4 and 5 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
The prohibitions in regulations 4 and 5 on making funds available do not prevent a relevant institution from crediting a frozen account where it receives funds transferred to the account.
3
A relevant institution must inform the Treasury without delay if it credits a frozen account in accordance with paragraph (1)(b) or (2).
4
In this regulation “frozen account” means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person.