Move To Freeze Terrorists' Assets

Public consultation has opened on a permanent bill that would allow the Treasury to freeze the assets of those involved in terrorism.

The Terrorist Asset-Freezing Bill which was published in draft on 5 February 2010.

Today the consultation document sets out the Government’s approach to terrorist asset freezing and its proposals for more permanent terrorist asset freezing legislation.

Treasury officials said public consultation will play an important role in ensuring that the new legislation is subject to proper scrutiny.

Exchequer Secretary to the Treasury, Sarah McCarthy-Fry said: "Government’s asset freezing regime is a valuable tool for countering terrorist activity.

"We are committed to maintaining an effective, proportionate and fair terrorist asset freezing regime that meets UN obligations, protects national security by disrupting flows of terrorist finance, and safeguards human rights."

Consultation will run for three months and close on 18 June.

United Nations Security Council resolutions require the UK to implement two terrorist asset freezing regimes.

An asset freezing regime against Al-Qaida and the Taliban, where there is a central UN list of those subject to the freeze and the asset freezes apply globally.

This is implemented in the UK through the Al-Qaida and Taliban (United Nations Measures) Order 2006.

An asset freezing regime against individuals involved in terrorism, where there is no central UN list and targeting is left to individual states, with the sanctions only applying within their jurisdiction.

This is implemented in the UK under the Terrorism (United Nations Measures) Order 2009 and its preceding Orders made in 2001 and 2006.

(PR/GK)