# The Nicaragua (Sanctions) (EU Exit) Regulations 2020, Paragraph 1: Interpretation

Extent: E+W+S+N.I.

(1) In this Schedule—
“designated person” has the same meaning as it has in Part 3 (Finance);
“frozen account” has the meaning given in regulation 18(7);
“frozen funds or economic resources” means funds or economic resources frozen by virtue of regulation 11 ....
(2) For the purposes of this Schedule, references to a designated person are to be read as including a person (“C”) who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person (“P”).
(3) When determining for the purposes of paragraph 10 when C became a designated person, C is to be treated as having become a designated person at the same time as P.

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Source: https://www.legislation.gov.uk/uksi/2020/610/schedule/2/paragraph/1 (the official version)
Page: https://openlegislation.uk/nicaragua-sanctions-eu-exit-regulations-2020/schedule-2/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.