Anti-terrorism, Crime and Security Act 2001

This section has no associated Explanatory Notes

[F110V(1)If a court in which proceedings are pending in respect of an account maintained with a [F2relevant financial institution] is satisfied that an account freezing order has been applied for or made in respect of the account, it may either stay the proceedings or allow them to continue on any terms it thinks fit.U.K.

(2)Before exercising the power conferred by sub-paragraph (1), the court must (as well as giving the parties to any of the proceedings concerned an opportunity to be heard) give such an opportunity to any person who may be affected by the court's decision.

(3)In relation to Scotland, the reference in sub-paragraph (1) to staying the proceedings is to be read as a reference to sisting the proceedings.]

Textual Amendments

F1Sch. 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)

F2Words in Sch. 1 para. 10V(1) substituted (retrospectively) by Financial Services Act 2021 (c. 22), s. 33(2), Sch. 12 para. 5 (with s. 33(4))