Paragraph 1

before the definition of “body corporate”, insert—

• ““the 2003 resolution” means resolution 1483 (2003) adopted by the Security Council of the United Nations on 22nd May 2003;”;

after the definition of “custody”, insert—

• ““designated funds” means funds to which a direction under article 4(1) applies;

• “designated person” means a person whose funds (including those held for him or on his behalf) are subject to a direction given by the Treasury under article 4(1);

• “Development Fund for Iraq” means the Development Fund for Iraq referred to in paragraph 12 of the 2003 resolution”;

after the definition of “funds”, insert—

• ““immediate family member” means a parent, son, daughter, spouse or sibling of the whole or half blood”;

after the definition of “relevant institution”, insert—

• ““Sanctions Committee” means the committee referred to in paragraph 19 of the 2003 resolution;

• “senior official” means any individual who, immediately before 20th March 2003—

  1. (a)

     was a member of the Iraqi Ba'ath Party of a rank equivalent to any person identified as mentioned in article 4(1)(a) by the Sanctions Committee; or

  2. (b)

     was entitled to exercise powers or functions equivalent to those of a person mentioned in paragraph (a); or

  3. (c)

     exercised such powers or functions for the purposes of the government of the Republic of Iraq”.

P, by virtue of his or its voting power in B or otherwise, is entitled to exercise determining influence over the management of B; or

B carries on activities predominantly for the purposes of P, or subject to P’s direction or approval.”.