PART 5Other sanctions for the purposes of UN obligations
Asset-freeze in relation to Usama bin LadenI1I225
1
A person (“P”) must not deal with the funds or economic resources owned, held or controlled by, Usama bin Laden at the time of his death, or which after his death formed all or part of his estate, if P knows, or has reasonable cause to suspect, that P is dealing with such funds or economic resources.
2
Paragraph (1) is subject to Part 6 (exceptions and licences).
3
A person who contravenes the prohibition in paragraph (1) commits an offence.
4
For the purposes of paragraph (1) a person “deals with” funds if the person—
a
uses, alters, moves, transfers or allows access to the funds,
b
deals with the funds in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination, or
c
makes any other change, including portfolio management, that would enable use of the funds.
5
For the purposes of paragraph (1) a person “deals with” economic resources if the person—
a
exchanges the economic resources for funds, goods or services, or
b
uses the economic resources in exchange for funds, goods or services (whether by pledging them as security or otherwise).