Section 58(6)

The prohibitions in regulations 11 to 13 are not contravened in relation to a designated person (“P”) by a transfer of funds from account A to account B, where— account A is with a relevant institution which carries on an excluded activity within the meaning of section 142D of the Financial Services and Markets Act 2000 , account B is with a ring-fenced body within the meaning of section 142A of the Financial Services and Markets Act 2000 , and accounts A and B are held or controlled (directly or indirectly) by P.

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