Making economic resources available to designated personsU.K.
11.—(1) A person (“P”) must not make economic resources available directly or indirectly to a designated person if P knows, or has reasonable cause to suspect—
(a)that P is making the economic resources so available, and
(b)that the designated person would be likely to exchange the economic resources for, or use them in exchange for, funds, goods or services.
(2) Paragraph (1) is subject to Part 6 (exceptions and licences).
(3) A person who contravenes the prohibition in paragraph (1) commits an offence.
(4) The reference in paragraph (1) to making economic resources available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.
Commencement Information
I1Reg. 11 not in force at made date, see reg. 1(2)
I2Reg. 11 in force at 31.12.2020 on IP completion day by S.I. 2019/627, reg. 9(2); 2020 c. 1, Sch. 5 para. 1(1)