First Report on the Operation of the Terrorist Asset-Freezing etc. Act 2010 : (review Period: December 2010 to September 2011)

The Act under review gives the Treasury power to freeze the assets of individuals and groups thought to be involved in terrorism, whether in the UK or abroad, and to deprive them of access to financial resources.

It implements UN Security Council Resolution 1373 and is one of a number of measures at the Government's disposal for preventing the financing of terrorism.

At the end of the review period in September 2011: 30 individuals and 8 groups were designated by the Treasury under the Act.

This is much reduced from the figure in previous years, owing largely to the removal of duplicate designations.

Each of the designated groups had been listed since 2001, as had someof the designated individuals.

No individual or group was designated during the review period.

No individual or group associated with Northern Ireland was designated, despite continuing terrorist activity there.

The prohibitions in the Act applied also to 22 individuals and 25 groups listed by the EU under Regulation 2580/2001.

The total quantity of assets frozen, taking the Treasury and EU lists together, was some GBP100,000.

Many of those designated had few if any assets in the United Kingdom. These and other facts make TAFA 2010 is an ancillary rather than a central part of the fight against terrorism.

A number of conclusions and recommendations are set out in sections 10 and 11