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Terrorist Asset-Freezing etc. Bill [HL]


 

Terrorist Asset-Freezing etc. Bill [HL]

 
 

EXPLANATORY NOTES

Explanatory notes to the Bill, prepared by the Treasury, are published separately as

Bill 102—EN.

EUROPEAN CONVENTION ON HUMAN RIGHTS

Mr Chancellor of the Exchequer has made the following statement under section

19(1)(a) of the Human Rights Act 1998:

In my view the provisions of the Terrorist Asset-Freezing etc. Bill [HL] are compatible

with the Convention rights.

 

Bill 102                                                                                                

55/1

 

 


 

Terrorist Asset-Freezing etc. Bill [HL]

 

 
 

Contents

Part 1

Terrorist Asset-Freezing

Chapter 1

Designated persons

Introductory

1   

Meaning of “designated person”

Final designations

2   

Treasury’s power to make final designation

3   

Notification of final designation

4   

Duration of final designation

5   

Variation or revocation of final designation

Interim designations

6   

Treasury’s power to make interim designation

7   

Notification of interim designation

8   

Duration of interim designation

9   

Variation or revocation of interim designation

Confidential information

10   

Confidential information

Chapter 2

Prohibitions in relation to designated persons

Prohibitions

11   

Freezing of funds and economic resources

12   

Making funds or financial services available to designated person

 

Bill 102                                                                                                

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Terrorist Asset-Freezing etc. Bill [HL]

ii

 

13   

Making funds or financial services available for benefit of designated person

14   

Making economic resources available to designated person

15   

Making economic resources available for benefit of designated person

Exceptions and licences

16   

Exceptions

17   

Licences

Circumventing prohibitions etc.

18   

Circumventing prohibitions etc.

Chapter 3

Information

Information for Treasury

19   

Reporting obligations of relevant institutions

20   

Powers to request information

21   

Production of documents

22   

Failure to comply with request for information

Disclosure of information by Treasury

23   

General power to disclose information

Other

24   

Co-operation with UK or international investigations

25   

Application of provisions

Chapter 4

Supplementary provisions

Supervision of exercise of powers

26   

Appeal to the court in relation to designations

27   

Review of other decisions by the court

28   

Appeals and reviews: supplementary

29   

Initial exercise of powers to make rules of court

30   

Treasury report on operation of Part 1

31   

Independent review of operation of Part 1

Offences

32   

Penalties

33   

Extra-territorial application of offences

34   

Liability of officers of body corporate etc.

35   

Jurisdiction to try offences

36   

Time limit for proceedings for summary offences

37   

Consent to prosecution

 
 

Terrorist Asset-Freezing etc. Bill [HL]

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38   

Procedure for offences by unincorporated bodies

Interpretation

39   

Meaning of “funds” and “economic resources”

40   

Meaning of “financial services”

41   

Meaning of “relevant institution”

42   

Interpretation: general

Miscellaneous

43   

Service of notices

44   

Crown application

45   

Consequential amendments, repeals and revocations

46   

Transitional provisions and savings

47   

Power to repeal Part

Part 2

Terrorist financing, money laundering etc.

Directions in particular cases

48   

Directions to branches of credit institutions and financial institutions

49   

Directions in relation to subsidiaries

General directions and other requirements

50   

Circumventing requirements of Schedule 7 directions

Minor amendments and repeals

51   

Northern Ireland credit unions

52   

Consequential amendments and repeals

Part 3

Final provisions

Extent etc.

53   

Extent

54   

Channel Islands, Isle of Man and British overseas territories

Commencement and short title

55   

Commencement

56   

Short title

Schedule 1   —   

Consequential amendments

Part 1   —   

Terrorist asset-freezing

 
 

Terrorist Asset-Freezing etc. Bill [HL]

iv

 

Part 2   —   

Terrorist financing, money laundering etc.

Schedule 2   —   

Repeals and revocations

Part 1   —   

Terrorist asset-freezing

Part 2   —   

Terrorist financing, money laundering etc.

 
 

 
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Revised 3 November 2010