Paragraph 3 Freezing funds

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

Sch 1, para 1 defn(s) rev by Iraq (United Nations Sanctions) (Channel Islands) 2004 art 4, Schedule, Pt 1, para 3(a)
Sch 1, para 1 rev in pt by Iraq (United Nations Sanctions) (Channel Islands) 2004 art 4, Schedule, Pt 1, para 3(b), (c)
Sch 1, paras 3, 4 rev by Iraq (United Nations Sanctions) (Channel Islands) 2004 art 4, Schedule, Pt 1, para 3(d), (e)
Sch 1, para 7 rev in pt by Iraq (United Nations Sanctions) (Channel Islands) 2004 art 4, Schedule, Pt 1, para 3(f)

For article 4, substitute—

“4.

(1)

Where—

(a)

a person is identified by the Sanctions Committee in accordance with paragraph 19 of the 2003 resolution as an individual or entity falling within paragraph 23 of that resolution; or

(b)

the relevant enforcement authority has reasonable grounds for suspecting that a person is or may be—

(i)

a senior official;

(ii)

an immediate family member of such an individual; or

(iii)

an entity, wherever incorporated or constituted, that immediately before 20th March 2003 was owned or controlled by the government of the Republic of Iraq, or is owned or controlled by a person referred to in paragraph (1)(a) or (1)(b)(i) or (ii);

the relevant enforcement authority may by notice direct that funds held by, for, or on behalf of that person are not to be made available to any person.

(2)

A notice under paragraph (1) must specify either—

(a)

the period for which the direction is to have effect; or

(b)

that the direction is to have effect until it is varied or revoked by notice under paragraph (3).

(3)

The relevant enforcement authority may by notice vary or revoke a direction given under paragraph (1) at any time.

(4)

The relevant enforcement authority must publish a notice issued under paragraph (1) or (3) in the way appearing to it to be best calculated to bring it to the attention of the public.”.