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The Sudan (European Union Financial Sanctions) Regulations 2014

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Changes over time for: Section 5

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Version Superseded: 31/12/2020

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Point in time view as at 11/07/2014. This version of this provision has been superseded. Help about Status

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There are currently no known outstanding effects for the The Sudan (European Union Financial Sanctions) Regulations 2014, Section 5. Help about Changes to Legislation

Making funds available for the benefit of a designated personU.K.

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5.—(1) A person (“P”) must not make funds available to any person for the benefit of a designated person if P knows, or has reasonable cause to suspect, that P is making the funds so available.

(2) For the purposes of this regulation—

(a)funds 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 regulations 8 and 9.

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