Terrorist Asset-Freezing etc. Act 2010 (c. 38)

F1 Part 1 U.K. Terrorist Asset-Freezing

Textual Amendments

F1 Pt. 1 amendment to earlier affecting provision SI 2011/750, arts. 2, 3, Schs. 1-3 (8.3.2017) by The Terrorist Asset-Freezing etc. Act 2010 (Overseas Territories) (Amendment) Order 2017 (S.I. 2017/157), arts. 1(1), 3-5

Modifications etc. (not altering text)

C1 Pt. 1 extended (Isle of Man) (with modifications) (17.3.2011) by The Terrorist Asset-Freezing etc. Act 2010 (Isle of Man) Order 2011 (S.I. 2011/749), arts. 1, 2, Schs.

C2 Pt. 1 extended (with modifications) (31.3.2011) by The Terrorist Asset-Freezing etc. Act 2010 (Overseas Territories) Order 2011 (S.I. 2011/750), arts. 1, 2, 3, Schs. 1-3 (as amended by S.I. 2013/534, reg. 1, Sch. para. 12(4))

C3 Pt. 1 extended (Guernsey) (with modifications) (8.4.2011, with effect in accordance with art. 4 of the commencing S.I.) by The Terrorist Asset-Freezing etc. Act 2010 (Guernsey) Order 2011 (S.I. 2011/1082), arts. 1(2), 3, 4, Schs.

C4 Pt. 1 amendment to earlier affecting provision SI 2011/750 art. 2 3 Sch. 1-3 (1.4.2013) by The Legal Aid, Sentencing and Punishment of Offenders Act 2012 (Consequential, Transitional and Saving Provisions) Regulations 2013 (S.I. 2013/534), reg. 1, Sch. para. 12(4)

CHAPTER 2 U.K. Prohibitions in relation to designated persons

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.