- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
4.—(1) Where the Treasury have reasonable grounds for suspecting that the person by, for or on behalf of whom any funds are held is or may be—
(a)a person who commits, attempts to commit, facilitates or participates in the commission of acts of terrorism,
(b)a person controlled or owned directly or indirectly by a person in (a), or
(c)a person acting on behalf, or at the direction, of a person in (a),
the Treasury may by notice direct that those funds are not to be made available to any person, except under the authority of a licence granted by the Treasury under this article.
(2) A direction given under paragraph (1) shall specify either—
(a)the period for which the direction is to have effect; or
(b)that the direction is to have effect until it is revoked by notice under paragraph (3).
(3) The Treasury may by notice revoke a direction given under paragraph (1) at any time.
(4) The expiry or revocation of a direction shall not affect the application of article 3 in respect of the funds in question.
(5) A notice under paragraph (1) or (3) shall be given in writing to the person holding the funds in question (“the recipient”), and shall require the recipient to send a copy of the notice without delay to the person whose funds they are, or for or on whose behalf they are held (“the owner”).
(6) A recipient shall be treated as complying with that requirement if, without delay, he sends a copy of the notice to the owner at his last-known address or, if he does not have an address for the owner, he makes arrangements for a copy of the notice to be supplied to the owner at the first available opportunity.
(7) Where a direction has been given under paragraph (1), any person by, for or on behalf of whom those funds are held may apply to the High Court or, in Scotland, to the Court of Session, for the direction to be set aside; and on such application the court may set aside the direction.
(8) A person who makes an application under paragraph (7) shall give a copy of the application and any witness statement or affidavit in support to the Treasury (and to any other person by, for or on behalf of whom those funds are held), not later than seven days before the date fixed for the hearing of the application.
(9) Any person who contravenes a direction given under paragraph (1) is guilty of an offence under this Order.
(10) A recipient who fails to comply with such a requirement as is mentioned in paragraph (5) is guilty of an offence under this Order.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: