(1) A person ("P") must not deal with funds or economic resources owned, held or controlled by a designated person if P knows, or has reasonable cause to suspect, that P is dealing with such funds or economic resources.
(2) In subsection (1) "deal with" means -
(i) use, alter, move, allow access to or transfer,
(ii) deal with the funds in any other way that would result in any change in volume, amount, location, ownership, possession, character or destination, or
(iii) make any other change that would enable use, including portfolio management;
(b) in relation to economic resources, exchange or use in exchange for funds, goods or services.
(3) Subsection (1) is subject to sections 16 and 17 (exceptions and licences).
(4) A person who contravenes the prohibition in subsection (1) commits an offence.