(1) The prohibitions in regulations 8 and 9 (partial asset-freeze and asset-freeze) are not contravened by an independent person ("P") transferring to another person a legal or equitable interest in funds or economic resources where, immediately before the transfer, the interest -

(a) is held by P, and

(b) is not held jointly with the designated person.

(2) In paragraph (1) "independent person" means a person who -

(a) is not the designated person, and

(b) is not owned or controlled directly or indirectly (within the meaning of regulation 7) by the designated person.

(3) The prohibitions in regulation 8 (partial asset-freeze) and regulations 9 to 11 (asset-freeze in relation to, and making funds available to, or for the benefit of, persons connected with the former Iraqi regime) are not contravened by a relevant institution crediting a frozen account or a relevant account with interest or other earnings due on the account.