5‑3 Policies relating to targeted financ

5‑3 Policies relating to targeted financial sanctions

For the purposes of paragraph 26F(3)(e) of the Act, the AML/CTF policies of a reporting entity must deal with ensuring that, in providing its designated services, the reporting entity: (a) does not make any assets available to, or available for the benefit of, a person designated for targeted financial sanctions, in contravention of the Autonomous Sanctions Act 2011 or the Charter of the United Nations Act 1945; and (b) does not use or deal with, or allow or facilitate the use of or dealing with, any assets owned or controlled (directly or indirectly) by a person designated for targeted financial sanctions, in contravention of either of those Acts.