Terrorist Asset-Freezing etc. Act 2010

Exceptions and licences U.K.

16 Exceptions U.K.

(1) The prohibitions in sections 11 to 13 are not contravened by a relevant institution crediting a frozen account with—

(a) interest or other earnings due on the account, or

(b) payments due under contracts, agreements or obligations that were concluded or arose before the account became a frozen account.

(2) The prohibitions in sections 12 and 13 on making funds available do not prevent a relevant institution from crediting a frozen account where it receives funds transferred to the account.

(3) The prohibition in section 13 is not contravened by the making of a payment which—

(a) is a benefit under or by virtue of an enactment relating to social security (irrespective of the name or nature of the benefit), and

(b) is made to a person who is not a designated person,

whether or not the payment is made in respect of a designated person.

(4) A relevant institution must inform the Treasury without delay if it credits a frozen account in accordance with subsection (1)(b) or (2).

(5) In this section “frozen account” means an account with a relevant institution which is held or controlled (directly or indirectly) by a designated person.

17 Licences U.K.

(1) The prohibitions in sections 11 to 15 do not apply to anything done under the authority of a licence granted by the Treasury.

(2) Where relevant such a licence also constitutes authorisation under Article 6 of Council Regulation (EC) No 2580/2001 of 27 December 2001 on specific restrictive measures directed against certain persons and entities with a view to combating terrorism.

(3) A licence must specify the acts authorised by it and may be—

(a) general or granted to a category of persons or to a particular person;

(b) subject to conditions;

(c) of indefinite duration or subject to an expiry date.

(4) The Treasury may vary or revoke a licence at any time.

(5) On the grant, variation or revocation of a licence, the Treasury must—

(a) in the case of a licence granted to a particular person, give written notice of the grant, variation or revocation to that person;

(b) in the case of a general licence or a licence granted to a category of persons, take such steps as the Treasury consider appropriate to publicise the grant, variation or revocation of the licence.

(6) A person commits an offence who, for the purpose of obtaining a licence, knowingly or recklessly—

(a) provides information that is false in a material respect, or

(b) provides or produces a document that is not what it purports to be.

(7) A person who purports to act under the authority of a licence but who fails to comply with any conditions included in the licence commits an offence.