SCHEDULES

SCHEDULE 1Forfeiture of terrorist F1cashF1property

Annotations:
Amendments (Textual)
F1

Word in Sch. 1 heading substituted (27.4.2017 for specified purposes, 31.1.2018 in so far as not already in force) by Criminal Finances Act 2017 (c. 22), s. 58(5)(6), Sch. 5 para. 16(2); S.I. 2018/78, reg. 5(1)(c)

F2PART 4BForfeiture of terrorist money held in F6certain accounts

Annotations:
Amendments (Textual)
F2

Sch. 1 Pt. 4B inserted (27.4.2017 for specified purposes, 30.1.2018 for the insertion of Sch. 1 para. 10X so far as not already in force, 31.1.2018 in so far as not already in force) by Criminal Finances Act 2017 (c. 22), s. 58(1)(6), Sch. 4 para. 2; S.I. 2018/78, regs. 2(i), 3(dd)

F6

Word in Sch. 1 Pt. 4B heading substituted (retrospectively) by Financial Services Act 2021 (c. 22), s. 33(2), Sch. 12 para. 3 (with s. 33(4))

Application for account freezing order

10Q

1

This paragraph applies if an enforcement officer has reasonable grounds for suspecting that money held in an account maintained with a F3relevant financial institution—

a

is within subsection (1)(a) or (b) of section 1, or

b

is property earmarked as terrorist property.

F41A

In this Part of this Schedule, “relevant financial institution” means—

a

a bank,

b

a building society,

c

an electronic money institution, or

d

a payment institution.

2

Where this paragraph applies the enforcement officer may apply to the relevant court for an account freezing order in relation to the account in which the money is held.

3

But—

a

an enforcement officer may not apply for an account freezing order unless the officer is a senior officer or is authorised to do so by a senior officer, and

b

the senior officer must consult the Treasury before making the application for the order or (as the case may be) authorising the application to be made, unless in the circumstances it is not reasonably practicable to do so.

4

For the purposes of this Part of this Schedule—

a

an account freezing order is an order that, subject to any exclusions (see paragraph 10U), prohibits each person by or for whom the account to which the order applies is operated from making withdrawals or payments from the account;

b

an account is operated by or for a person if the person is an account holder or a signatory or identified as a beneficiary in relation to the account.

5

An application for an account freezing order may be made without notice if the circumstances of the case are such that notice of the application would prejudice the taking of any steps under this Part of this Schedule to forfeit money that is within subsection (1)(a) or (b) of section 1 or is property earmarked as terrorist property.

6

The money referred to in sub-paragraph (1) may be all or part of the credit balance of the account.

7

In this Part of this Schedule—

  • “bank” has the meaning given by paragraph 10R;

  • “building society” has the same meaning as in the Building Societies Act 1986;

  • F5“electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations);

  • “enforcement officer” means—

    1. a

      a constable, or

    2. b

      a counter-terrorism financial investigator;

  • F5“payment institution” means an authorised payment institution or a small payment institution (each as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752));

  • “relevant court”—

    1. a

      in England and Wales and Northern Ireland, means a magistrates' court, and

    2. b

      in Scotland, means the sheriff;

  • “senior officer” means a police officer of at least the rank of superintendent.