SCHEDULEInformation Provisions
Powers to request information2
1
The Treasury may request a designated person to provide information concerning—
a
funds or economic resources owned or controlled by or on behalf of the designated person, or
b
any disposal of such funds or economic resources.
2
The Treasury may request a designated person to provide such information as the Treasury may reasonably require about expenditure—
a
by or on behalf of the designated person, or
b
for the benefit of the designated person.
3
The power in sub-paragraph (1) or (2) is exercisable only where the Treasury believe that it is necessary for the purpose of monitoring compliance with or detecting evasion of these Regulations.
4
The Treasury may request a person acting under a licence granted under regulation 9 to provide information concerning—
a
funds or economic resources dealt with under the licence, or
b
funds or economic resources made available under the licence.
5
The Treasury may request any person in or resident in the United Kingdom to provide such information as the Treasury may reasonably require for the purpose of—
a
establishing for the purposes of these Regulations—
i
the nature and amount or quantity of any funds or economic resources owned or controlled by or on behalf of a designated person,
ii
the nature and amount or quantity of any funds or economic resources made available directly or indirectly to, or for the benefit of, a designated person, or
iii
the nature of any financial transactions entered into by a designated person,
b
monitoring compliance with or detecting evasion of these Regulations, or
c
obtaining evidence of the commission of an offence under these Regulations.
6
The Treasury may specify the manner in which, and the period within which, information is to be provided.
7
If no such period is specified, the information which has been requested must be provided within a reasonable time.
8
A request may include a continuing obligation to keep the Treasury informed as circumstances change, or on such regular basis as the Treasury may specify.
9
Information requested under this paragraph may relate to any period of time during which a person is, or was, a designated person.
10
Information requested under sub-paragraph (1)(b), (2) or (5)(a)(iii) may relate to any period of time before a person became a designated person (as well as, or instead of, any subsequent period of time).