Explanatory Notes

Terrorist Asset-Freezing etc. Act 2010

2010 CHAPTER 38

16 December 2010

Commentary on Sections and Schedules

Part 2 – Terrorist Financing, Money Laundering Etc.

General directions and other requirements

104.Section 50 – Circumventing requirements of Schedule 7 directions.

105.This section introduces a prohibition on knowing and intentional circumvention of the requirements of a direction under Schedule 7. A civil penalty may be imposed in response to breach of the prohibition, and breach of the prohibition is a criminal offence.