Section 3(1)

For the purposes of section 1(5)(a) regulations “impose financial sanctions” if they impose prohibitions or requirements for one or more of the following purposes— freezing funds or economic resources owned, held or controlled by designated persons (see section 9); preventing financial services from being provided to, or for the benefit of— designated persons, persons connected with a prescribed country, or a prescribed description of persons connected with a prescribed country; preventing financial services from being procured from, or for the benefit of— designated persons, persons connected with a prescribed country, or a prescribed description of persons connected with a prescribed country; preventing funds or economic resources from being made available to, or for the benefit of— designated persons, persons connected with a prescribed country, or a prescribed description of persons connected with a prescribed country; preventing funds or economic resources from being received from— designated persons, persons connected with a prescribed country, or a prescribed description of persons connected with a prescribed country; preventing financial services from being provided, where the services relate to financial products, or financial products of a prescribed description, issued by designated persons; preventing persons from owning, controlling or having a prescribed interest in persons (other than individuals) which are— designated persons, connected with a prescribed country, or of a prescribed description and connected with a prescribed country.

← 3 · All articles · 2 →

Source: legislation.gov.uk · retrieved 2026-08-30