The UK terrorist asset freezing regime meets obligations placed on the UK by Resolutions of the UN Security Council (UNSCRs) and associated EC regulations. It is implemented by the Terrorist Asset-Freezing Act 2010 (TAFA 2010). There is a two part test to exercise the power to designate a person under TAFA found at Section 2 of the Act: in essence, there must be evidence to support a reasonable belief that the person has been involved in terrorist activity (s.2(1)(a) TAFA) and the asset freeze must be considered necessary for purposes connected with protecting members of the public from terrorism (s.2(1)(b) TAFA).
Designation under TAFA subjects a person to the following restrictions:
A prohibition on dealing with any funds or economic resources owned, held or controlled by the designated person (in effect the funds or economic resources must be frozen)
A prohibition on making funds, economic resources or financial services available to (or for the benefit of) the designated person
Specific offences under TAFA include:
Dealing with funds or economic resources owned, held or controlled by a designated person
Making funds, economic resources or financial services available to or for the benefit of a designated person
Circumventing the restrictions imposed by those restrictions

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