(1) A person ("P") must not participate, directly or indirectly, in business arrangements, including joint ventures, with a person who P knows to be, or has reasonable cause to suspect is -
(a) a designated person, or
(b) acting on behalf of or at the direction of a designated person.
(2) Paragraph (1) is subject to Part 9 (Exceptions and licences).
(3) A person who contravenes the prohibition in paragraph (1) commits an offence.