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The Burma/Myanmar (Financial Restrictions) Regulations 2009

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Prohibition against financing designated enterprises

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13.—(1) A person must not finance a designated enterprise.

(2) In this regulation, “finance” means—

(a)grant any loan or credit to a designated enterprise;

(b)acquire bonds, certificates of deposit, warrants or debentures issued by a designated enterprise being a person listed in Annex VII of the EC Regulation or a person whom the Treasury have reasonable grounds for suspecting of being such a person; or

(c)acquire or increase a participation or shareholding, including shares and securities of a participating nature, in a designated enterprise.

(3) A person who contravenes the prohibition in paragraph (1) is guilty of an offence.

(4) In proceedings for an offence under this regulation, it is a defence for a person to show that they did not know and had no reasonable cause to suspect that the body being financed was a designated enterprise.

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