Article 6 Freezing of funds on suspicion
Where the Treasury have reasonable grounds for suspecting that the person by, for, or on behalf of whom any funds are held is or may be—
a person who commits, attempts to commit, participates in, or facilitates the commission of terrorism,
a person controlled or owned directly or indirectly by a person referred to in sub-paragraph (a) above,
a person acting on behalf of, or at the direction of a person referred to in sub-paragraph (a) above,
the Treasury may by notice direct that those funds are not to be made available to any person, except under the authority of a licence granted by the Treasury under this article.
A notice given under paragraph (1) shall specify either—
the period for which it is to have effect, or
that the direction is to have effect until it is revoked by notice under paragraph (3) below.
The Treasury may by notice revoke a direction under paragraph (1) at any time.
The expiry or revocation of a direction shall not affect the application of article 5 in respect of the funds in question.
A notice under paragraph (1) or (3) shall be given in writing to the person holding the funds in question (“the recipient”), and shall require the recipient to send a copy of the notice without delay to the person whose funds they are, or on whose behalf they are held (“the owner”).
A recipient shall be treated as complying with that requirement if, without delay, he sends a copy of the notice to the owner at his last-known address or, if he does not have an address for the owner, he makes arrangements for a copy of the notice to be supplied to the owner at the first available opportunity.
Any person whose funds are the subject of a direction made under paragraph (1) above, may apply for the direction to be reviewed in the same manner as the review of a direction under the Banking Act 1989 (an Act of Tynwald), and section 24 of that Act and any regulations under that section shall apply to a review under this Order as they apply in respect of a review under that section.
Any person who contravenes a direction under paragraph (1) above shall be guilty of an offence.
A recipient who fails to comply with such a requirement as is mentioned in paragraph (6) shall be guilty of an offence.