Asset Freezing (Compensation) Bill (HC Bill 165)

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A

BILL

TO

Make provision for the imposing of restrictions on assets owned by persons
involved in conduct that gives support and assistance to terrorist
organisations in the United Kingdom for the purpose of securing
compensation for citizens of the United Kingdom affected by such conduct.

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 supporting 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
European Union and the assets meet the requirement in subsection (3), the
5Treasury 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
2010, as are necessary to ensure the effective implementation of this Act.

(3) 10The requirement in subsection (1) is that the assets are owned by persons,
including but not limited to state parties, who are or have been involved in
conduct that gives support and assistance to terrorist organisations in the
United Kingdom.

(4) A person is deemed to be or have been involved in conduct that gives support
15and assistance to terrorist organisations in the United Kingdom 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 conduct to that effect.

(5) 20The circumstances in subsection (1) are that a settlement has been reached and
executed in respect of compensation to be paid to any United Kingdom citizens
affected by the conduct referred to in subsection (3).

(6) In this Act—

    Asset Freezing (Compensation) BillPage 2

  • “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,
    within the meaning of the Terrorist Asset-Freezing etc. Act 2010;

  • 5“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 England and Wales, Scotland and Northern Ireland.

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

(3) 10This Act may be cited as the Asset Freezing (Compensation) Act 2018.

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