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This Order extends Part 1 (including Part 1 of Schedule 2) of the Terrorist Asset-Freezing etc. Act 2010 to the British overseas territories (“the Territories”) specified in Schedule 1, subject to the modifications specified in Schedule 2 of this Order and additionally in Schedule 3 for the Sovereign Base Areas of Akrotiri and Dhekelia.
The Order replaces the existing power that the Territories have to freeze the assets of those suspected of being involved in terrorism under the Terrorism (United Nations Measures) (Overseas Territories) Order 2001 (S.I. 2001/3366) which is vulnerable to being quashed following the Supreme Court decision in Ahmed & Ors v HM Treasury [2010] UKSC 2. Applying Part 1 of the 2010 Act to the Territories will give them a similar power to the Treasury’s powers under the Terrorist Asset Freezing etc. Act 2010, allowing them to make asset freezes, licence exemptions, and to require and share information within their own territories.
The United Kingdom has an obligation to provide penalties for offences enforcing Regulation (EC) No. 2580/2001 (OJ No.L344,28.12.2001 p.70). This is provided for in section 1(b) Part 1 of the Asset Freezing etc. Act 2010. The Territories have no such obligation to provide penalties so section 1(b) is not one of the provisions in Part 1 extended to the Territories.
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