Regulation 7 Making funds or economic resources available to designated persons etc.I1

A person must not make funds or economic resources available, directly or indirectly, to or for the benefit of a designated person unless he does so under the authority of a licence granted under regulation 10.

A person who contravenes the prohibition in paragraph (1) is guilty of an offence.

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 making funds or economic resources available, directly or indirectly, to or for the benefit of a designated person.