Schedule 5, Part 1, paragraph 1

In this Part of this Schedule— “designated person” has the same meaning as it has in Chapter 1 of Part 3 (Asset-freeze etc.); “frozen funds or economic resources” means funds or economic resources frozen by virtue of regulation 11 .... For the purposes of this Part 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”). When determining for the purposes of paragraph 8 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: legislation.gov.uk · retrieved 2026-08-30