PART 4Finance
CHAPTER 1Asset-freeze etc.
Making funds available for benefit of designated personI1I215
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
Paragraph (1) is subject to Part 9 (Exceptions and licences).
3
A person who contravenes the prohibition in paragraph (1) commits an offence.
4
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 (or partial discharge) of a financial obligation for which the designated person is wholly or partly responsible.