The Al-Qaida and Taliban (Asset-Freezing) Regulations 2010

Regulation 8

SCHEDULE 1

Information provisions

Cooperation with UK or international investigations

1.  The Treasury must take such steps as they consider appropriate to cooperate with any investigation, in the United Kingdom or elsewhere, relating to the funds, economic resources or financial transactions of a designated person.

Reporting obligations of relevant institutions

2.—(1) A relevant institution must inform the Treasury as soon as practicable if it knows or suspects that a relevant person—

(a) is a designated person; or

(b) has committed an offence under regulation 3, 4, 6 or 7.

(2) Where a relevant institution informs the Treasury under sub-paragraph (1), it must state—

(a) the information or other matter on which the knowledge or suspicion is based;

(b) any information it holds about the relevant person by which the person can be identified; and

(c) the nature and amount or quantity of any funds or economic resources held by the relevant institution for the relevant person at any time up to five years prior to the relevant designation being made.

(3) A relevant institution must inform the Treasury without delay if it credits a frozen account in accordance with regulation 5(2).

(4) A relevant institution that fails to comply with a requirement in sub-paragraph (1), (2) or (3) commits an offence.

(5) In this paragraph, “relevant person” means—

(a) a person who is a customer of the institution;

(b) a person who was a customer of the institution at any time in the period of five years immediately preceding the relevant designation being made; or

(c) a person with whom the institution has had dealings in the course of its business during that period.

Powers to request information

3.—(1) The Treasury may request a designated person to provide information concerning—

(a) funds and economic resources owned, held or controlled by the designated person; or

(b) any disposal of such funds or economic resources, whether the disposal occurred before or after the person became a designated person.

(2) Where the Treasury believe that it is necessary for the purpose of monitoring compliance with or detecting evasion of these Regulations, the Treasury may request a designated person to provide such information as the Treasury may reasonably require about expenditure—

(a) by or on behalf of the designated person; and

(b) for the benefit of the designated person.

(3) The Treasury may request a person acting under a licence granted under regulation 7 to provide information concerning—

(a) funds or economic resources dealt with under the licence;

(b) funds or economic resources made available under the licence.

(4) The Treasury may request any person in or resident in the United Kingdom to provide such information as the Treasury may reasonably require for the purpose of—

(a) monitoring compliance with or detecting evasion of these Regulations;

(b) obtaining evidence of the commission of an offence under these Regulations;

(c) establishing—

(i) the nature and amount or quantity of any funds or economic resources owned, held or controlled by a designated person; or

(ii) the nature and amount or quantity of any funds or economic resources made available directly or indirectly to, or for the benefit of, a designated person; or

(iii) the nature of any financial transactions entered into by a designated person.

(5) The Treasury may specify the manner in which, and the period within which, information is to be provided.

(6) If no such period is specified, the information which has been requested must be provided within a reasonable time.

(7) A request may include a continuing obligation to keep the Treasury informed as circumstances change, or on such regular basis as the Treasury may specify.

Production of documents

4.—(1) A request under paragraph 3 may include a request to produce specified documents or documents of a specified kind or description.

(2) Where the Treasury request that documents be produced, they may—

(a) take copies of or extracts from any document so produced;

(b) request any person producing a document to give an explanation of it; and

(c) where that person is a body corporate, request any person who is a present or past officer of, or employee of, the body corporate to give such an explanation.

(3) Where the Treasury request a designated person or a person acting under a licence granted under regulation 7 to produce documents, that person must—

(a) take reasonable steps to obtain the documents, if not already in the person’s possession or control; and

(b) keep the documents under the person’s possession or control (except for the purpose of providing them to the Treasury or as the Treasury may otherwise permit).

Failure to comply with request for information

5.—(1) A person commits an offence who—

(a) without reasonable excuse refuses or fails within the time and in the manner specified (or, if no time has been specified, within a reasonable time) to comply with any request made under this Schedule;

(b) knowingly or recklessly gives any information or produces any document which is false in a material particular in response to such a request;

(c) with intent to evade the provisions of this Schedule, destroys, mutilates, defaces, conceals or removes any document; or

(d) otherwise wilfully obstructs the Treasury in the exercise of their powers under this Schedule.

(2) Where a person is convicted of an offence under this paragraph, the court may make an order requiring that person, within such period as may be specified in the order, to comply with the request.

General power to disclose information

6.—(1) The Treasury may disclose any information obtained by them in exercise of their powers under these Regulations (including any document so obtained and any copy or extract made of any document so obtained)—

(a) to a police officer;

(b) to any person holding or acting in any office under or in the service of—

(i) the Crown in right of the Government of the United Kingdom;

(ii) the Crown in right of the Scottish Administration, the Government of Northern Ireland or the Welsh Assembly Government;

(iii) the States of Jersey, Guernsey or Alderney or the Chief Pleas of Sark;

(iv) the Government of the Isle of Man;

(v) the Government of any British overseas territory;

(c) to the Legal Services Commission or, in Scotland, the Legal Aid Board;

(d) to the Financial Services Authority, the Jersey Financial Services Commission, the Guernsey Financial Services Commission, or the Isle of Man Insurance and Pensions Authority and Financial Supervision Commission;

(e) for the purpose of giving assistance or cooperation, pursuant to the Council Regulation, to any person in the service of the Council of the European Union, the European Commission or the government of any country;

(f) with a view to instituting, or otherwise for the purposes of, any proceedings—

(i) in the United Kingdom, for an offence under these Regulations; or

(ii) in any of the Channel Islands, the Isle of Man or any British overseas territory, for an offence under a similar provision in any such jurisdiction; or

(g) with the consent of a person who, in their own right, is entitled to the information or to the possession of the document, copy or extract, to any third party.

(2) In this paragraph, “in their own right” means not merely in the capacity of a servant or agent of another person.

Application of provisions

7.—(1) Nothing done under this Schedule is to be treated as a breach of any restriction imposed by statute or otherwise.

(2) The provisions of this Schedule are not to be treated as limiting the powers of the Treasury to impose conditions in connection with the discharge of their functions under regulation 7.

(3) Nothing in this Schedule is to be read as requiring a person who has acted as counsel or solicitor for any person to give or produce any privileged information or document in their possession in that capacity.

(4) Nothing in this Schedule authorises a disclosure that—

(a) contravenes the Data Protection Act 1998(1); or

(b) is prohibited by Part 1 of the Regulation of Investigatory Powers Act 2000(2).

(1)

1998 c.29.

(2)

2000 c.23.