Article 9 Freezing funds and economic resources

(1)

A person (including the designated person) must not deal with funds or economic resources owned, held or controlled, directly or indirectly, by a designated person unless he does so under the authority of a licence granted under article 14.

(2)

A person who contravenes the prohibition in paragraph (1) shall be guilty of an offence under this Order.

(3)

In proceedings for an offence under this article, 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, directly or indirectly, by a designated person.

(4)

In this article, “to deal with” means—

(a)

in respect of funds—

(i)

to use, alter, move, allow access to or transfer;

(ii)

to deal with in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination; or

(iii)

to make any other change that would enable use, including portfolio management; and

(b)

in respect of economic resources, to use to obtain funds, goods or services in any way, including (but not limited to) by selling, hiring or mortgaging the resources.