Section 28, Funds and Other Related Measures) Regulations, 2013

(1) Without prejudice to Part V, the Director shall onreceipt of any list of designated persons or groups declared as terrorists or terrorist group, institute preventive measures, by order in writing or electronic mail or any other means of communication cause to be frozen instantaneously the funds or other assets of a designated person or group on the list for a maximum period of 48 hours pending CISU initiating action and shall ensure that no funds or other assets are made available, directly or indirectly, to or for the benefit of that designated person or group. (2) Where the Director, has taken the appropriate measures under sub-regulation (1), he shall immediately inform members of the Committee and the CISU. (3) The freezing order of the Director shall not prevent CISU from taking over the freezing process before the lapse of the 48 hours where the CISU indicates clearly that it was taking over the freezing of the funds or assets of the designated person or group. (4) Funds frozen by the Director shall include funds or other assets– (a) wholly or jointly owned or controlled, directly or indirectly, by a designated person, a terrorist, a person who finances terrorism or a terrorist organization; (b) derived or generated from funds or other assets owned or controlled directly or indirectly by a designated person, a terrorist, a person who finances terrorism or a terrorist organisation.