PART 2Funds and economic resources
Making economic resources available for the benefit of a designated person7
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 cause 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, in whole or in part, of a financial obligation for which the designated person is wholly or partly responsible.
3
Paragraph (1) is subject to regulation 9.