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Terrorist Assets: Procedure for designation and freezing

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A decision made 12 December 2013:

Decision Reference: MD-C-2013-0153

Decision Summary Title :

Procedure For Designation and Freezing of Terrorist Assets 2013.12.12

Date of Decision Summary:

12th December 2013

 

 

Decision Summary Author:

External Relations

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written procedure

Person Giving

Oral Report:

N/A

Written Report

Title :

Terrorist Asset-Freezing (Jersey) Law 2011 - Procedure for (i) the receipt and assessment of requests based on a foreign request to designate/freeze in order to comply with obligations under SCR 1373 (paragraphs 1 to 5) and (ii) the receipt and assessment of requests to grant, vary or revoke a licence (paragraph 6).

Date of Written Report:

5th December 2013

 

 

Written Report Author:

External Relations

Written Report :

Public or Exempt?

 Public

Subject:   Procedure for the designation and freezing of terrorist assets

Decision(s):  The Minister for External Relations, on the recommendation of the Jersey Financial Crimes Strategy Group and with the advice of HM Attorney General, approved the procedure as attached, in accordance with the Terrorist Asset-Freezing (Jersey) Law 2011, for (i) the receipt and assessment of requests based on a foreign request to designate/freeze in order to comply with obligations under SCR 1373 (paragraphs 1 to 5) and (ii) the receipt and assessment of requests to grant, vary or revoke a licence (paragraph 6).

Reason(s) for Decision: The United Nations Security Council Resolution 1373 (2001) requires, inter alia, that all states shall:

“Freeze without delay funds and other financial assets or economic resources of persons who commit, or attempt to commit, terrorist acts or participate in or facilitate the commission of terrorist acts; of entities owned or controlled directly or indirectly by such persons; and of persons and entities acting on behalf of, or at the direction of such persons and entities, including funds derived or generated from property owned or controlled directly or indirectly by such persons and associated persons and entities;…”

Following the IMF review in 2009 of the regulation of Jersey’s financial services industry, the reviewers recommended:

“The authorities should put in place a formal procedure governing the receipt and assessment of requests based on a foreign request to designate/freeze in order to comply with obligations under SCR 1373.”

The Terrorist Asset-Freezing (Jersey) Law 2011, amongst other matters, makes provision for the Minister for External Relations to designate a person who the Minister reasonably suspects is or has been involved in terrorist activity; or who is owned or controlled by such a person; or who is acting on behalf of such a person. The funds and economic resources of a designated person must be frozen, and funds or economic resources must not be made available directly or indirectly to a designated person.

The Jersey Financial Crimes Strategy Group, with the advice of HM Attorney General, has approved the proposed procedure as attached, in accordance with the Terrorist Asset-Freezing (Jersey) Law 2011, for (i) the receipt and assessment of requests based on a foreign request to designate/freeze in order to comply with obligations under SCR 1373 (paragraphs 1 to 5) and (ii) the receipt and assessment of requests to grant, vary or revoke a licence (paragraph 6).

Resource Implications: There are no manpower or revenue implications arising.

Action required: The Chief Minister’s Department shall inform the States Greffe of this decision. 

Signature:

 

 

 

Position: 

 

 

Minister for External Relations

Date Signed:

 

 

Date of Decision (If different from Date Signed):

 

 

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