United Kingdom’s Terrorist Asset-Freezing etc. Act 2010
Regulation 26: Brokering Services
- A person must not provide or assist in providing brokering services for transactions that are prohibited under the Act.
- This includes facilitating transactions related to designated persons, entities, or countries.
- Penalties include fines and imprisonment.
Regulation 27: Holding Illegally Removed Iraqi Cultural Property
- Anyone holding or controlling illegally removed Iraqi cultural property must transfer it to a constable.
- Failure to comply is an offense, but a defense may be available if the person did not know and had no reasonable cause to suspect that the goods were illegally removed Iraqi cultural property.
Regulation 28: Circumventing Prohibitions
- A person must not intentionally participate in activities that circumvent or facilitate the contravention of any prohibition under the Act.
- This is an offense, punishable by fines and imprisonment.
Defenses (Regulation 29)
- If a defense is raised, the court will assume it is satisfied unless the prosecution proves beyond reasonable doubt that it is not.
Exceptions and Licenses (Part 5)
- The partial asset-freeze prohibition does not apply to independent persons transferring interests in funds or economic resources where they are not held jointly with designated persons.
- Relevant institutions may credit frozen accounts with interest or earnings due on the account, without contravening prohibitions.
- Transfers of funds to relevant institutions for crediting to frozen accounts are permitted, as are transfers of funds in discharge of obligations that arose before a person became a designated person.
Note: This is not an exhaustive summary and should be read in conjunction with the full text of the Act.