Paragraph 12 I1

For regulation 10 (meaning of “designated person” in Part 3) substitute—

“10.

In this Part, a “designated person” means—

(a)

a person who is designated from time to time by the Treasury under regulation 5 (power to designate persons) (as it has effect in the United Kingdom) for the purposes of regulations 11 to 15 (asset-freeze etc.) (as they have effect in the United Kingdom), or

(b)

a person designated by the Governor under regulation 5 for the purposes of regulations 11 to 15.”