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4. (1) The provisions of this article apply in relation to the following funds (“frozen funds”)—
(a)funds owned, held or controlled by Landsbanki; and
(b)funds relating to Landsbanki and owned, held or controlled by—
(i)any of the Authorities; or
(ii)the Government of Iceland.
(2) A person must not make frozen funds available to or for the benefit of a specified person.
(3) A person must not make frozen funds available at the direction or instruction of a specified person.
(4) A person must not deal with frozen funds.
(5) For the purposes of this article, making funds available to or for the benefit of a specified person includes—
(a)allowing it to withdraw from an account;
(b)honouring a cheque payable to it;
(c)crediting its account with interest;
(d)releasing documents of title (such as share certificates) held on its behalf;
(e)making available the proceeds of realisation of its property; and
(f)making a payment to or for its benefit.
(6) In this article, “deal with” means—
(a)use, alter, move, allow access to or transfer;
(b)deal with in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination; or
(c)make any other change that would enable use, including portfolio management.
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