Document ID: chunk:federal_register_of_legislation:F2021C00916:reg:5:p2
Version: federal_register_of_legislation:F2021C00916
Segment Type: reg
Provision Reference: reg 5 (pt 2/2)
Character Range: 7370–8507

became accounts holding controlled assets.
Note: If the account into which the payment is paid is frozen under Sanctions Regulations, this payment will also be frozen once received.
 (6) A dealing constituted by:
 (a) a payment by:
 (i) a designated person; or
 (ii) a person or entity acting on behalf of, or at the direction of, a designated person or entity; or
 (iii) an entity owned or controlled by a designated person or entity;
is a required payment dealing if:
 (b) the payment is required under a contract made before the person or entity became a designated person or entity; and
 (c) the payment is not directly or indirectly being received by a designated person or entity.
 (7) Any other dealing constituted by:
 (a) a payment to:
 (i) a designated person; or
 (ii) a person or entity acting on behalf of, or at the direction of, a designated person or entity; or
 (iii) an entity owned or controlled by a designated person or entity; or
 (b) a use or dealing with a controlled asset;
is an extraordinary expense dealing if it is necessary for extraordinary expenses.

Part 2—Grounds for listing persons, entities or assets