HM Treasury has launched a consultation on the Terrorist Asset-Freezing Bill, which was published in draft on 5 February 2010. The consultation sets out the Government's approach to terrorist asset freezing and its proposals for more permanent terrorist asset freezing legislation, following the Supreme Court's decision to quash the Terrorism (United Nations Measures) Order 2006 and the Government's subsequent introduction of temporary legislation to reinstate the asset freezing regime. The Government is seeking views on the following questions:
- does the draft Bill set out the most effective way of meeting our UN obligations and protecting national security whilst also ensuring sufficient safeguards in respect of human rights?
- do you have any views on the current operation of the UK's asset freezing regime under the Terrorism Orders?
- does the Regulatory Impact Assessment (at Annex C) accurately reflect the costs and benefits of the regime? Is there more that can be done to reduce the costs for the financial sector and others in implementing the regime whilst maintaining its effectiveness?
Comments are invited by 18 June 2010.