(1)The Secretary of State must appoint a person to review the operation of such asset-freeze provisions of relevant regulations made by the Secretary of State as the Secretary of State may from time to time refer to that person.
(2)The Treasury must appoint a person to review the operation of such asset-freeze provisions of relevant regulations made by the Treasury as the Treasury may from time to time refer to that person.
(3)The persons appointed under subsections (1) and (2) may be the same person.
(4)In each calendar year, by 31 January—
(a)the person appointed under subsection (1) must notify the Secretary of State of what (if any) reviews under that subsection that person intends to carry out in that year, and
(b)the person appointed under subsection (2) must notify the Treasury of what (if any) reviews under that subsection that person intends to carry out in that year.
(5)Reviews of which notice is given under subsection (4) in a particular year—
(a)may not relate to any provisions that have not been referred before the giving of the notice, and
(b)must be completed during that year or as soon as reasonably practicable after the end of it.
(6)The person who conducts a review under this section must as soon as reasonably practicable after completing the review send a report on its outcome to—
(a)the Secretary of State, if the review is under subsection (1), or
(b)the Treasury, if the review is under subsection (2).
(7)On receiving a report under this section the Secretary of State or (as the case may be) the Treasury must lay a copy of it before Parliament.
(8)The Secretary of State may pay the expenses of a person who conducts a review under subsection (1) and also such allowances as the Secretary of State may determine.
(9)The Treasury may pay the expenses of a person who conducts a review under subsection (2) and also such allowances as the Treasury may determine.
(10)For the purposes of this section, regulations are “relevant regulations” if—
(a)they are regulations under section 1, and
(b)they state under section 1(3) at least one purpose which—
(i)is not compliance with a UN obligation or other international obligation, and
(ii)relates to counter-terrorism.
(11)A purpose “relates to counter-terrorism” if the report under section 2 in respect of the regulations indicated that, in the opinion of the appropriate Minister making them, the carrying out of that purpose would further the prevention of terrorism in the United Kingdom or elsewhere.
(12)For the purposes of this section a provision of relevant regulations is an “asset-freeze provision” if and to the extent that it—
(a)imposes a prohibition or requirement for a purpose mentioned in section 3(1)(a), (b) or (d), or
(b)makes provision in connection with such a prohibition or requirement.
(13)If a provision is referred under this section which contains a designation power, any review under this section of the operation of that provision may not include a review of any decisions to designate under that power.