Making funds available to designated persons
19.—(1) A person (“P”) must not make relevant funds available directly or indirectly to a designated person if P knows, or has reasonable cause to suspect, that P is making the funds so available.
(2) Paragraph (1) is subject to Part 8 (Exceptions and licences).
(3) A person who contravenes the prohibition in paragraph (1) commits an offence.
(4) For the purposes of paragraph (1), “relevant funds” are—
(a)interest or other earnings due on funds held in a relevant account (within the meaning of regulation 18) which are frozen by virtue of regulation 18(1), and
(b)funds due to a designated person by virtue of an obligation which arose prior to the date on which the person became a designated person.
(5) The reference in paragraph (1) to making funds available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.