Court of Appeals Orders: Freeze Order Tolled Upon Filing of Petition

In a significant development, the Court of Appeals has issued an order that tolls the twenty-day period for filing a petition to determine the basis of a freeze order upon the filing of a petition to extend its effectivity.

Terms of the Order

The Anti-Money Laundering Council (AMLC) is authorized to issue a freeze order with respect to property or funds of designated organizations, associations, groups, or individuals to comply with binding terrorism-related resolutions, including Resolution No. 1373 of the United Nations Security Council.

• The AMLC may also designate persons affected by the law and delist those who are no longer considered threats to national security.
• The criminal provisions of the law shall apply extraterritorially in certain cases, including when an individual commits a crime outside the Philippines but with a connection to the country.

Additional Provisions

The law also provides for extradition procedures and allows for the prosecution of offenses committed outside the Philippines.

Implementation Timeline

The Implementing Rules and Regulations of the law are expected to be promulgated by the AMLC within thirty days from its effectivity.