9(1)A direction under this Schedule may impose requirements in relation to transactions or business relationships with—U.K.
(a)a person carrying on business in the country;
(b)the government of the country;
(c)a person resident or incorporated in the country.
[F1(d)a company that is a subsidiary of a company within paragraph (a) or (c).]
(2)The direction may impose requirements in relation to—
(a)a particular person within sub-paragraph (1),
(b)any description of persons within that sub-paragraph, or
(c)all persons within that sub-paragraph.
(3)In this Schedule “designated person”, in relation to a direction, means any of the persons in relation to whom the direction is given.
(4)The kinds of requirement that may be imposed by a direction under this Schedule are specified in—
paragraph 10 (customer due diligence);
paragraph 11 (ongoing monitoring);
paragraph 12 (systematic reporting);
paragraph 13 (limiting or ceasing business).
(5)A direction may make different provision—
(a)in relation to different descriptions of designated person, and
(b)in relation to different descriptions of transaction or business relationship.
[F2(5A)Descriptions of transactions or business relationships for the purposes of sub-paragraph (5)(b) may, in particular, include transactions or business relationships of a particular branch (or description of branch) of a relevant person.]
(6)The requirements imposed by a direction must be proportionate having regard to the advice mentioned in paragraph 1(2) or, as the case may be, the risk mentioned in paragraph 1(3) or (4) to the national interests of the United Kingdom.
[F3(7)In this paragraph “subsidiary” has the meaning given by section 1159 of the Companies Act 2006 (and “company” has the same meaning as in that section).]
Textual Amendments
F1Sch. 7 para. 9(1)(d) inserted (17.12.2010) by Terrorist Asset-Freezing etc. Act 2010 (c. 38), ss. 49(2), 55(1)
F2Sch. 7 para. 9(5A) inserted (17.12.2010) by Terrorist Asset-Freezing etc. Act 2010 (c. 38), ss. 48(2), 55(1)
F3Sch. 7 para. 9(7) inserted (17.12.2010) by Terrorist Asset-Freezing etc. Act 2010 (c. 38), ss. 49(3), 55(1)