Use of parts of the frozen funds pursuant to the Sanctions List under UAE Law
Use of parts of the frozen funds pursuant to the Sanctions List: The procedures of implementing the Cabinet’s resolution No. (20) of 2019 concerning the regulations on Terrorists’ Lists; and implementing the Security Council’s Resolutions (this also includes Anti Money Laundering Law of UAE) concerning the prevention and suppression of terrorism, terrorism financing and proliferation financing.
Permitting the use of parts of the frozen funds pursuant to the Sanctions List
The Office shall approve the use of parts of the frozen funds pursuant to the Sanctions List, for each of the following:
a) To pay necessary expenses for the listed individual whose funds are frozen, i.e. amounts paid for food, rent, mortgage, medicine, medical care, insurance premium, education, legal fees and general public expenses.
b) To pay for professional fees and expenditures concerning those related to legal service fees within reasonable limits, or services fees related to maintaining and management of frozen funds.
c) Any extraordinary expenses other than those prescribed in Paragraph (A) and (B) of Clause (1).
Requests, by the Designated for the purpose of approving any of the provided for in the paragraphs of Clause (1), or any of their representatives, shall be submitted directly to the Office, attaching all supporting documents with the application.
The Office shall study the applications/requests stipulated in Clause (2), its grounds and the amounts of money required; the Office shall also have the right to reduce the amounts required or reject it based on justified grounds.
In case the application/request is related to the expenses mentioned in paragraphs (A) and (B) above in Clause (1), the Office, then, shall notify the
Sanctions Committee of their desire to approve the application/request in accordance with the provisions of Clause (2).
And in case the Sanctions Committee did not express opposing decision; or in the case it did not reject the request within five (5) working days from the date it was notified; the de-freezing of the amounts approved by the Office shall pass.
The freezing authority shall be notified in writing and they shall immediately have to enforce the decision. The freezing authority shall inform the Office of the procedures taken in this regard.
The Office shall, in case of paragraph (C) in Clause (1), obtain the Sanctions Committee’s written consent to the application/request.
For the purposes of Clauses (4) and (5); the Office shall notify the Designated, or their representative(s) about the approval or the rejection to the application/request in writing.