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Version status: Repealed | Document consolidation status: Updated to reflect all known changes
Version date: 31 December 2020 - onwards
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15. Making economic resources available for benefit of designated person

Repealed from 31 December 2020

(1) A person ("P") must not make economic resources available to any person for the benefit of a designated person if P knows, or has reasonable cause to suspect, that P is making the economic resources so available.

(2) For the purposes of this section -

(a) economic resources are made available for the benefit of a designated person only if that person thereby obtains, or is able to obtain, a significant financial benefit, and

(b) "financial benefit" includes the discharge of a financial obligation for which the designated person is wholly or partly responsible.

(3) Subsection (1) is subject to section 17 (licences).

(4) A person who contravenes the prohibition in subsection (1) commits an offence.

Comparing proposed amendment...