National Security Act 2023

Property measure U.K.

6 (1) The Secretary of State may impose either or both of the following—

(a) restrictions on the individual in relation to the transfer of property to, or by, the individual, or

(b) requirements on the individual in relation to the disclosure of property.

(2) The Secretary of State may, in particular, impose any of the following requirements—

(a) a requirement not to transfer money or other property to a person or place outside the United Kingdom without the permission of the Secretary of State;

(b) a requirement to give notice to the Secretary of State before transferring money or other property to a person or place outside the United Kingdom;

(c) a requirement to comply with any specified conditions in relation to the transfer of property to, or by, the individual;

(d) a requirement to disclose to the Secretary of State such details as may be specified of any property that falls within sub-paragraph (3).

(3) Property falls within this sub-paragraph if it is property of a specified description—

(a) in which the individual has an interest of any kind, or

(b) over which, or in relation to which, the individual may exercise any right (including a right of use or a right to grant access).

(4) A reference in this paragraph to the transfer of property includes a reference to the arrangement of such a transfer.

(5) In this paragraph “property” includes rights over, or in relation to, property (including rights of use and rights to grant access); and a reference to the transfer of property includes a reference to the acquisition or disposal of such rights.

Commencement Information

I1 Sch. 7 para. 6 not in force at Royal Assent, see 100(1)

I2 Sch. 7 para. 6 in force at 20.12.2023 by S.I. 2023/1272, reg. 2(b)