SCHEDULES
SCHEDULE 2Treasury licences: purposes
Interpretation1
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.
Basic needs2
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—
- a
the wife or husband of the designated person;
- b
the civil partner of the designated person;
- c
any parent or other ascendant of the designated person;
- d
any child or other descendant of the designated person;
- e
any person who is a brother or sister of the designated person, or a child or other descendant of such a person.
- a
Legal services3
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.
Maintenance of frozen funds and economic resources4
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.
Extraordinary expenses5
To enable an extraordinary expense of a designated person to be met.