Schedule 5, Part 1ZA, paragraph 9DC(4)

This sub-paragraph applies where— the sole consideration for that acquisition is a transfer of funds from B to the person concerned; such funds are credited to— a frozen account held by a relevant institution; or an account held by a non-UK credit or financial institution in a non-UK country; and where paragraph (b)(ii) applies, the law of that non-UK country— contains relevant and appropriate— prohibitions corresponding to those in Part 3 of these Regulations; and exceptions corresponding to those in Part 7 of these Regulations; and where relevant or appropriate, allows for licences to be granted on grounds corresponding to those in this Schedule.

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