HM Treasury today announced that it was accepting all nine of the recommendations made by the Independent Reviewer of Terrorism Legislation, David Anderson QC, in his Report of December 2011 on the operation of the Terrorist Asset-Freezing &c. Act 2010.
The Act gives the Treasury power to freeze the assets of individuals and groups thought to be involved in terrorism, whether in the UK or abroad, and to deprive them of access to financial resources. It implements UN Security Council Resolution 1373 of 2001, and is one of a number of measures at the Treasury's disposal for preventing the financing of terrorism. 34 individuals and 8 groups are currently designated by the Treasury under the Act, many of them abroad or in prison but some at liberty in the UK.
The Report made detailed recommendations concerning the grounds for designation under the Act, the integration of decision-making, transparency, licensing and compliance.
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