{
  "url": "https://openlegislation.uk/magistrates-courts-conversion-of-terrorist-cryptoassets-rules-2024/note",
  "json_url": "https://openlegislation.uk/magistrates-courts-conversion-of-terrorist-cryptoassets-rules-2024/note.json",
  "legislation": "uksi/2024/1041",
  "legislation_title": "The Magistrates’ Courts (Conversion of Terrorist Cryptoassets) Rules 2024",
  "legislation_url": "https://openlegislation.uk/magistrates-courts-conversion-of-terrorist-cryptoassets-rules-2024",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Rules)\nThese Rules prescribe the procedure to be followed for applications to a magistrates’ court for orders under Part 4BD of Schedule 1 to the Anti-terrorism, Crime and Security Act 2001 (c. 24) (“ATCSA”).\nThis Part of Schedule 1 was inserted by Schedule 10 to the Economic Crime and Corporate Transparency Act 2023 (c. 56) and makes provision for the conversion of cryptoassets into money and for the detention, freezing and forfeiture of converted cryptoassets. Prior to their conversion, these cryptoassets will have been seized and then detained or frozen on the basis that there are reasonable grounds to suspect that they are intended to be used for the purposes of terrorism, consist of resources of a proscribed organisation, or are or represent property obtained through terrorism. “Cryptoassets” are defined by paragraph 10Z7A of Schedule 1 to ATCSA.\nThe Rules provide the relevant procedure for:\napplications for the conversion of detained cryptoassets into money (see paragraph 10Z7DA of Schedule 1 to ATCSA);\napplications to convert frozen cryptoassets into money (see paragraph 10Z7DB of Schedule 1 to ATCSA);\napplications for further detention of detained converted cryptoassets (see paragraph 10Z7DD of Schedule 1 to ATCSA);\napplications for further detention of frozen converted cryptoassets (see paragraph 10Z7DE of Schedule 1 to ATCSA);\napplications for release of detained converted cryptoassets (see paragraph 10Z7DF of Schedule 1 to ATCSA);\napplications for forfeiture of detained converted cryptoassets (see paragraph 10Z7DG of Schedule 1 to ATCSA);\napplications for compensation (see paragraph 10Z7DL of Schedule 1 to ATCSA)).\nIn addition, these Rules make provision for the manner in which documents are to be given in proceedings under Part 4BD of ATCSA, and for the procedure at hearings.\nA full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sectors is foreseen.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2024/1041/note",
    "retrieved_at": "2026-10-28T21:25:36.681350+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}