3 Freezing of funds and economic resources
1 A person (“P”) must not deal with funds or economic resources owned or controlled, directly or indirectly, by a designated person if P knows, or has reasonable cause to suspect, that P is dealing with such funds or economic resources.
2 In paragraph (1) “deal with” means—
(a) in relation to funds—
(i) use, alter, move, allow access to or transfer,
(ii) deal with the funds in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination, or
(iii) make any other change that would enable use, including portfolio management;
(b) in relation to economic resources, exchange, or use in exchange, for funds, goods or services.
3 Paragraph (1) is subject to regulation 9.