; and (II) provide the owner of the asset and other interested parties with a 1-year period to challenge such freezing or blocking; and (ii) if such asset remains frozen or otherwise blocked after the 1-year period described under clause (i)(II), the Secretary shall require the financial institution holding the frozen asset to transfer such asset to the Secretary. (B) Covered persons A person described in this subparagraph is a person that is— (i) designated as a foreign terrorist organization under section 219(a) of the Immigration and Nationality Act ( 8 U.S.C. 1189(a) ); (ii) designated as a Specially Designated Global Terrorist by the Department of the Treasury under Executive Order 13224 ( 50 U.S.C. 1701 ); or (iii) a specially designated terrorist, as that term is defined in section 595.311 of title 31, Code of Federal Regulations (or any successor thereto). (2) Assets deposited into Confiscated Assets Fund The Secretary shall— (A) deposit all money received under this subsection into the Confiscated Assets Fund