Terrorist asset-freezing etc. act

Status of the bill: Enacted

Main purpose of the bill:

To make provision for imposing financial restrictions on, and in relation to, certain persons suspected of involvement in terrorist activities; to amend Schedule 7 to the Counter-Terrorism Act 2008; and for connected purposes.

Main points of the bill:

Sets out the framework for effectively implementing asset-freezing in the UK, as required by the United Nations and puts the regime on a secure legislative footing, ensuring that terrorist assets remain frozen.

Sets out the legal test for freezing assets, the process for making decisions, the scope of the prohibitions, exemptions provisions, criminal offences and appeal mechanisms.

Progress of the bill

The Terrorist Asset-Freezing etc. Bill was announced by the Government on 25th May 2010.

Lords:
First Reading: 15.07.10 Second Reading: 27.07.10 Committee Stage: 06.10.10 Report Stage: 25.10.10 Third Reading: 01.11.10

Commons:
First Reading: 02.11.10 Second Reading: 15.11.10 Committee Stage: 23.11.10 Report Stage: 14.12.10 Third Reading: 14.12.10
Royal Assent: 16.12.10