SCHEDULES

SCHEDULE 2Treasury licences: purposes

Regulation 29

InterpretationI11

In this Schedule

  • “designated person” has the same meaning as it has in Part 3 (Finance);

  • “frozen funds or economic resources” means funds or economic resources frozen by virtue of regulation 9, and any reference to a person's frozen funds or economic resources is to funds or economic resources frozen as a consequence of the designation of that person for the purposes of that regulation.

Annotations:
Commencement Information
I1

Sch. 2 para. 1 not in force at made date, see reg. 1(2)

Basic needsI22

1

To enable the basic needs of a designated person, or (in the case of an individual) any dependent family member of such a person, to be met.

2

In the case of an individual in sub-paragraph (1) “basic needs” includes—

a

medical needs;

b

needs for—

i

food;

ii

payments of insurance premiums;

iii

payments of tax;

iv

rent or mortgage payments;

v

utility payments.

3

In the case of a person other than an individual in sub-paragraph (1) “basic needs” includes needs for—

a

payment of insurance premiums;

b

payment of reasonable fees for the provision of property management services;

c

payment of remuneration, allowances or pensions of employees;

d

payment of tax;

e

rent or mortgage payments;

f

utility payments.

4

In sub-paragraph (1)—

  • “dependent” means financially dependent;

  • “family member” includes—

    1. a

      the wife or husband of the designated person;

    2. b

      the civil partner of the designated person;

    3. c

      any parent or other ascendant of the designated person;

    4. d

      any child or other descendant of the designated person;

    5. e

      any person who is a brother or sister of the designated person, or a child or other descendant of such a person.

Annotations:
Commencement Information
I2

Sch. 2 para. 2 not in force at made date, see reg. 1(2)

Legal servicesI33

To enable the payment of—

a

reasonable professional fees for the provision of legal services, or

b

reasonable expenses associated with the provision of legal services.

Annotations:
Commencement Information
I3

Sch. 2 para. 3 not in force at made date, see reg. 1(2)

Maintenance of frozen funds and economic resourcesI44

To enable the payment of—

a

reasonable fees, or

b

reasonable service charges,

arising from the routine holding or maintenance of funds or economic resources.

Annotations:
Commencement Information
I4

Sch. 2 para. 4 not in force at made date, see reg. 1(2)

Extraordinary expensesI55

To enable an extraordinary expense of a designated person to be met.