Article 6 Exceptions

(1)

A person is not guilty of an offence under article 4 or 5 if he credits a frozen account with—

(a)

interest or other earnings on the account;

(b)

payments due under contracts, agreements or obligations that were concluded or arose prior to the date that an account-holder became a designated person.

(2)

A relevant institution is not guilty of an offence under article 4 or 5 if the institution credits a frozen account with funds transferred by a third party, provided that the institution informs the Treasury without delay.

(3)

For the avoidance of doubt, article 4 applies to any funds credited to a frozen account in accordance with this article.

(4)

In this article—

“frozen account” means an account of a designated person;
“third party” means a person other than the designated person or the relevant institution with which the account is maintained.