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Asset Freezing (Compensation) Bill (HC Bill 107)

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A

BILL

TO

Make provision for the imposing of restrictions on assets owned by persons
involved in supplying terrorist organisations in the United Kingdom with
arms for the purpose of securing compensation for citizens of the United
Kingdom affected by the supply of such arms.

Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and
consent of the Lords Spiritual and Temporal, and Commons, in this present
Parliament assembled, and by the authority of the same, as follows:—

1 Assets owned by persons involved in supplying arms to terrorist
organisations

(1) Where assets based in the United Kingdom are frozen under European Union
Council Regulations adopted by virtue of Chapter 2 of Title V of the Treaty on
5European Union and the assets meet the requirement in subsection (3), the
Treasury must take all actions necessary to prevent the release of the frozen
assets until the circumstances in subsection (5) are met.

(2) The actions referred to in subsection (1) may include putting in place such
domestic asset freezing measures, under the Terrorist Asset-Freezing etc. Act
102010, as are necessary to ensure the effective implementation of this Act.

(3) The requirement in subsection (1) is that the assets are owned by persons who
are or have been involved in supplying terrorist organisations in the United
Kingdom with arms, including explosive materials.

(4) A person is deemed to be or have been involved in supplying terrorist
15organisations in the United Kingdom with arms if—

(a) the United Nations Security Council has made a Resolution to that
effect; or

(b) the Treasury reasonably believes that the person is or has been
involved in supplying terrorist organisations in the United Kingdom
20with arms.

(5) The circumstances in subsection (1) are that a settlement has been reached in
respect of compensation to be paid to United Kingdom citizens affected by the
supply of arms referred to in subsection (3).

Asset Freezing (Compensation) BillPage 2

(6) In this Act—

  • “terrorist organisations in the United Kingdom” means organisations
    which are based in the United Kingdom, and that the Treasury
    reasonably believes are or have been involved in terrorist activity,
    5within the meaning of the Terrorist Asset-Freezing etc. Act 2010;

  • “United Kingdom citizen” has the same meaning as in the British
    Nationality Act 1981.

2 Extent, commencement and short title

(1) This Act extends to the whole of the United Kingdom.

(2) 10This Act comes into force on the day on which it is passed.

(3) This Act may be cited as the Asset Freezing (Compensation) Act 2016.

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