Paragraph 1 InterpretationI1

In this Schedule—

• “designated person” has the same meaning as it has in Part 3 (Finance);

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

In paragraph 2(1) of this Schedule, the reference to a designated person is 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.