Freezing funds and economic resources of designated persons
6.—(1) A person (including the designated person) must not deal with funds or economic resources owned, held or controlled by a designated person unless authorised by a licence granted under regulation 10.
(2) In paragraph (1), “deal with” means—
(a)in respect of funds—
(i)use, alter, move, allow access to or transfer;
(ii)deal with in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination;
(iii)make any other change that would enable use, including portfolio management; and
(b)in respect of economic resources, exchange or use in exchange for funds, goods or services.
(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 funds or economic resources were owned, held or controlled by a designated person.