The Landsbanki Freezing (Revocation) Order 2009

Statutory Instruments

2009 No. 1392

Banks And Banking

The Landsbanki Freezing (Revocation) Order 2009

Made

10th June 2009

Laid before Parliament

10th June 2009

Coming into force

15th June 2009

The Treasury, in exercise of the powers conferred by sections 4 and 14 of and Schedule 3 to the Anti-terrorism, Crime and Security Act 2001(1), make the following Order:

Citation and commencement

1.  This Order may be cited as the Landsbanki Freezing (Revocation) Order 2009 and comes into force on 15th June 2009.

Revocations

2.  The following Orders are revoked—

(a) the Landsbanki Freezing Order 2008(2);

(b) the Landsbanki Freezing (Amendment) Order 2008(3).

Frank Roy

Tony Cunningham

Two of the Lords Commissioners of Her Majesty’s Treasury

10th June 2009

EXPLANATORY NOTE

(This note is not part of the Order)

This Order is made under the Anti-terrorism, Crime and Security Act 2001 (c.24). It revokes the Landsbanki Freezing Order 2008 (S.I. 2008/2668) and the Landsbanki Freezing (Amendment) Order 2008 (S.I. 2008/2766).

The Landsbanki Freezing Order 2008 imposed an asset freeze in relation to the Icelandic bank, Landsbanki Islands hf. The Landsbanki Freezing (Amendment) Order 2008 made minor amendments to the Freezing Order. By revoking those Orders, this Order lifts the asset freeze.

An Impact Assessment of the effect of this instrument on the costs of business has been prepared. It may be obtained from the Financial Stability Team, HM Treasury, 1 Horse Guards Road, London SW1A 2HQ. It is also available on HM Treasury’s website (www.hm-treasury.gov.uk ).

(1)

2001 c.24.

(2)

S.I. 2008/2668 as amended by S.I. 2008/2766.

(3)

S.I. 2008/2766.