# The Iran (European Community Financial Sanctions) Regulations 2007, Regulation 6: Freezing funds and economic resources of designated persons

Extent: E+W+S+N.I.

(1) A person (including the designated person) must not deal with funds or economic resources owned, held or controlled by a designated person unless he does so under the authority of a licence granted under regulation 10.
(2) A person who contravenes the prohibition in paragraph (1) is guilty of an offence.
(3) In proceedings for an offence under this regulation, it is a defence for a person to show that he did not know and had no reasonable cause to suspect that he was dealing with funds or economic resources owned, held or controlled by a designated person.
(4) In this regulation, “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; or
(iii) make any other change that would enable use, including portfolio management; and
(b) in respect of economic resources, use to obtain funds, goods or services in any way, including (but not limited to) by selling, hiring or mortgaging the resources.

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Source: https://www.legislation.gov.uk/uksi/2007/1374/regulation/6 (the official version)
Page: https://openlegislation.uk/iran-european-community-financial-sanctions-regulations-2007/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.