Great Britain: H.M. Treasury
Published: 2010-02-05
Total Pages: 64
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This paper contains the draft Terrorist Asset-Freezing Bill, explanatory notes and an impact statement. The purpose of the Bill is to give effect to resolution 1373 (2001) adopted by the Security Council of the United Nations on 28 September 2001 relating to terrorism and resolution 1452 (2002) adopted on 20 December 2002 relating to humanitarian exemptions. Resolution 1373 includes a requirement that member states must (a) prevent the financing of terrorist acts, including the freezing of funds and economic resources of persons who commit or attempt to commit, terrorist acts or participate in or facilitate such acts, and (b) prohibit their nationals and those within their territories from making funds, financial services or economic resources available to such persons. Resolution 1452 introduces exemptions to permit payments necessary to meet basic humanitarian needs (such as payments for foodstuffs, rent or mortgage, medicines and medical treatment, taxes, insurance premiums, public utility charges and legal fees and expenses).