Regulation 12 Making funds available to designated personsI1I2
United Kingdom
A person (“P”) must not make funds available directly or indirectly to a designated person if P knows, or has reasonable cause to suspect, that P is making the funds so available.
Paragraph (1) is subject to Part 5 (Exceptions and licences).
A person who contravenes the prohibition in paragraph (1) commits an offence.
The reference in paragraph (1) to making funds available indirectly to a designated person includes, in particular, a reference to making them available to a person who is owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.
Annotations
Commencement
- I1
Reg. 12 not in force at made date, see reg. 1(2)
- I2
Reg. 12 in force at 31.12.2020 by S.I. 2019/627, reg. 10(2); 2020 c. 1, Sch. 5 para. 1(1)
Notes on the whole SI
Textual amendments
- F1
Regulations extended (with modifications) (31.12.2020 immediately after S.I. 2020/590 and S.I. 2020/951 come into force) by The Republic of Guinea-Bissau (Sanctions) (Overseas Territories) Order 2020 (S.I. 2020/1587), regs. 1, 2, Schs. 1, 2 (as amended (11.12.2025) by The Sanctions (Miscellaneous Amendments) (Overseas Territories) Order 2025 (S.I. 2025/1307), art. 1(1), Sch. 8)