Paragraph 1 InterpretationI1
United Kingdom
In this Schedule—
“designated person” has the same meaning as it has in Part 3 (Finance);
“frozen funds or economic resources” means funds or economic resources frozen by virtue of regulation 8 (asset-freeze in relation to designated persons), and any reference to a person’s frozen funds or economic resources is to funds or economic resources frozen as a consequence of the designation of that person for the purposes of that regulation.
For the purposes of this Schedule, references to a designated person are to be read as including a person (“C”) who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person (“P”).
When determining for the purposes of paragraph 6 or 7 when C became a designated person, C is to be treated as having become a designated person at the same time as P.
Annotations
Textual amendments
- F1
Sch. 2 para. 1 renumbered as Sch. 2 para. 1(1) (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 34(8)(a)
- F2
Sch. 2 para. 1(2)(3) inserted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 34(8)(b)
Commencement
- I1
Sch. 2 para. 1 in force at 28.12.2022, see reg. 1(2)