Document ID: chunk:federal_register_of_legislation:F2021C00916:reg:30
Version: federal_register_of_legislation:F2021C00916
Segment Type: reg
Provision Reference: reg 30
Character Range: 10057–11773

30  Definitions for Part 3
 (1) In this Part, a dealing constituted by:
 (a) a payment to a proscribed person or entity, or a payment to a person or entity acting on behalf of, or at the direction of a proscribed person or entity; or
 (b) a use or dealing with a freezable asset;
is basic expense dealing if it is necessary for basic expenses, including the following:
 (c) foodstuffs;
 (d) rent or mortgage;
 (e) medicines or medical treatment;
 (f) taxes;
 (g) insurance premiums;
 (h) public utility charges;
 (i) reasonable professional fees;
 (j) reimbursement of expenses associated with the provision of legal services;
 (k) fees or service charges that are in accordance with national laws for the routine holding or maintenance of frozen assets.
 (2) In this Part a dealing constituted by:
 (a) a payment to a proscribed person or entity, or a payment to a person or entity acting on behalf of, or at the direction of a proscribed person or entity; or
 (b) a use or dealing with a freezable asset;
is a contractual dealing if it is a payment:
 (c) to apply interest or other earnings due on accounts holding freezable assets; or
 (d) required under contracts, agreements or obligations made before the date on which those accounts became accounts holding freeazable assets.
Note: If the account into which the payment is paid is frozen under Part 4 of the Act, this payment will also be frozen once received.
 (3) In this Part any other dealing constituted by:
 (a) a payment to a proscribed person or entity, or a payment to a person or entity acting on behalf of, or at the direction of a proscribed person or entity; or
 (b) a use or dealing with a freezable asset;
is an extraordinary expense dealing.