Terrorist Asset-Freezing Bill: draft

The Government launched a public consultation exercise on draft terrorist asset freezing legislation which sought views on the operation of the asset freezing regime and whether the draft legislation proposed effectively protected civil liberties.

Following a Supreme Court ruling and the passage of the temporary asset freezing legislation in February 2010 the previous Government launched a public consultation exercise on draft terrorist asset freezing legislation.

The consultation sought views on the operation of the asset freezing regime and whether the draft legislation proposed by the previous government effectively protected civil liberties.

The Government is committed to striking the right balance between protecting national security and protecting civil liberties across all counter-terrorism legislation and believes that the legislation it is proposing strikes a reasonable balance in this regard.

However, the Government will consider further whether there is a strong case for strengthening civil liberties safeguards in the asset freezing regime alongside the wider counter-terrorism review that it is undertaking, which is due to conclude in Autumn 2010. If the conclusions for the review support the case for making further changes to strengthen civil liberties safeguards in the asset freezing regime the relevant amendments will be bought forward.

The consultation was aimed primarily at financial institutions and other businesses affected by asset freezing legislation.

The Terrorist Asset-Freezing etc Bill was introduced on 15 July 2010 and published on 16 July 2010.