Section 62

In this Act— “appropriate Minister” is to be read in accordance with section 1(9); “country” includes any territory, region or other place; “designation power” has the meaning given by section 10(1); “economic resources” has the meaning given by section 60(2); “financial products” has the meaning given by section 61(3); “financial services” has the meaning given by section 61(1); “freeze”, in relation to funds or economic resources, has the meaning given by section 60(3) and (4); “funds” has the meaning given by section 60(1); “international obligation” has the meaning given by section 1(8); “person” has the meaning given by section 9(5); “prescribed”, in any provision relating to regulations, means prescribed by the regulations; ... ... “the Security Council” means the Security Council of the United Nations; “the territorial sea” (without more) means the territorial sea adjacent to the United Kingdom; “terrorism” has the same meaning as in the Terrorism Act 2000 (see section 1(1) to (4) of that Act); “UN obligation” has the meaning given by section 1(8); “UN Security Council Resolution” has the meaning given by section 1(8). Any reference in this Act to a person named “for the purposes of” a UN Security Council Resolution so far as it provides for the taking of particular measures includes any person who, by virtue of— is a person in relation to whom the resolution provides for the measures to be taken. being named for any purposes by the Security Council or a subsidiary organ of the Security Council, and the terms of the resolution, Any reference in this Act to ships designated “for purposes of” a UN Security Council Resolution which provides for the taking of measures in relation to ships includes any ship which, by virtue of— is a ship in relation to which the resolution provides for the measures to be taken. being designated for any purposes by the Security Council or a subsidiary organ of the Security Council, and the terms of the resolution, Regulations under section 1 may make provision as to the meaning of any reference in the regulations to funds, economic resources or technology (or a particular description of funds, economic resources or technology) being— owned by a person, held by a person, controlled by a person, or made available to or for the benefit of a person. Regulations under section 1 may make provision as to the meaning of any reference in the regulations to a person “owning” or “controlling” another person. Regulations under section 1 may make provision as to the connection that is required between— in order for the person to be regarded as “connected with” that country for the purposes of any provision of the regulations. a person, or a person of a prescribed description, and a country,

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