Paragraph 1 I1I2

In this Schedule—

• “designated person” means a person designated for the purposes of regulations 9 to 13 (asset-freeze etc. in relation to persons connected with the former Iraqi regime) under regulation 5(2); for the purposes of Part 2 only, “designated person” also includes a person who is designated for the purposes of regulation 8 (partial asset-freeze in relation to the former Government of Iraq and its state bodies, corporations or agencies) by reason of regulation 5(1);

• “frozen funds or economic resources” means funds or economic resources frozen by virtue of regulation 8 or 9, 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 purpose of that regulation.

For the purposes of this Schedule, references to a designated person, in so far as they relate to a person designated for the purposes of regulations 9 to 13 under regulation 5(2), are to be read as including a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.