Orders
Section 4 Power to make order
51.This section allows the Treasury to make a freezing order if two conditions are satisfied. First, the Treasury must reasonably believe that action threatening the United Kingdom’s economy (or part of it) or the life or property of United Kingdom nationals or residents has taken place or is likely to take place. Secondly, the persons involved in the action must be resident outside the United Kingdom or be an overseas government.
Section 5 Contents of order
52.A freezing order prohibits all persons in the United Kingdom, and all persons elsewhere who are United Kingdom nationals, bodies incorporated in the United Kingdom or Scottish partnerships from making funds available to or for the benefit of a person or persons specified in the order. The order may specify the persons taking the action referred to in section 4 and any person who has provided or is likely to provide assistance (directly or indirectly) to those persons. The specification may be by name or by description of persons set out in the order. Where a person is specified by description, the description must be such that a reasonable person would know whether he fell within it.
Section 6 Contents: further provisions
This section introduces Schedule 3, which makes further provision about the contents of freezing orders.
Section 7 Review of order
53.This section requires the Treasury to keep under review whether any freezing order should be kept in force or amended.
Section 8 Duration of order
54.This section specifies that a freezing order lapses two years after it was made.
