Asset freezing legislation generally permits a person to make which of the following payments into a frozen account without the need for a license from OFSI, so long as those funds are frozen after being paid in:

Asset freezing legislation generally permits a person to make which of the following payments into a frozen account without the need for a license from OFSI, so long as those funds are frozen after being paid in:
A . Any interest or earnings on the account
B. Any payments due to a designated person under contracts, agreement or obligations that were concluded or arose before the date the person became sanctioned
C. Any interest or earnings that is not on the account
D. Any payment from an unknown source

View Answer

Answer: A,B

Explanation:

Asset freezing legislation generally permits a person to make the following payments into a frozen account without the need for a license from OFSI, so long as those funds are frozen after being paid in:

• Any interest or earnings on the account

• Any payments due to a designated person under contracts, agreement or obligations that were concluded or arose before the date the person became sanctioned

The legislation also generally permits, without the need for a license, a relevant institution to credit a frozen account with payments from a third party, provided that the incoming funds are also frozen and that it informs OFSI of the transaction without delay