Prohibition against entering into financial transactions or providing financial assistance or services, etc., in relation to designated vessels
7A.  A financial institution must not, directly or indirectly (including through any provider of any brokering or other intermediary services) —
(a)enter into any financial transaction with (including the enforcement or recovery of any security interest or lien); or
(b)provide, facilitate the provision of, or procure the provision of any financial assistance or services (including but not limited to the granting of export credits, guarantees, insurance or re‑insurance) to,
a person if the financial transaction, or financial assistance or services relates to a designated vessel.
[S 481/2017 wef 31/08/2017]