Sanctions and Anti-Money Laundering Bill [HL] Contents

Chapter 1: Introduction

1.The Sanctions and Anti-Money Laundering Bill [HL] was introduced in the House of Lords on 18 October 2017. It received its second reading on 1 November and is expected to begin its committee stage on 21 November. It is one of several Brexit-related Bills announced in the Queen’s Speech earlier this year.

2.At present, many of the sanctions regimes in which the United Kingdom participates operate at EU level. The European Communities Act 1972 (ECA) is the legal basis for the domestic implementation and operation of such sanctions regimes. UK ministers also have authority to implement sanctions regimes that are independent of the EU, including under the Terrorist Asset-Freezing etc. Act 2010 and, in relation to sanctions imposed pursuant to United Nations Security Council resolutions, the United Nations Act 1946. Meanwhile, much of the law applicable in the UK concerning money laundering and terrorist financing derives from EU law, which in turn tends to reflect international standards drawn up by the Financial Action Task Force.

3.The Sanctions and Anti-Money Laundering Bill is intended to provide a new, long-term legal basis for ministers to make secondary legislation concerning sanctions, money laundering and terrorist financing. This will enable the UK to comply with relevant international obligations, but is not limited to facilitating such compliance.

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