On 8 February 2013, HM Treasury issued a notice under s. 4 of The Terrorist Asset-Freezing etc. Act 2010 renewing final designations as against both Khalid Shaikh Mohammed and the entity known as “Holy Land Foundation For Relief And Development” for the period of one year. Accordingly the asset freezing prohibitions contained in the Act continue to apply to both entities.
Relevant institutions and others are required to check whether they maintain any accounts or otherwise hold any funds or economic resources for, or provide financial services to, the designated persons. If so, such accounts must be frozen and, unless licensed by the Treasury, the relevant institutions must not deal with the funds or economic resources or make them available to the two named entities and must suspend the provision of any financial services to such persons. Any such findings or any reasonably held suspicions that a person has committed an offence under the Act must (if not previously reported) be reported to HM Treasury pursuant to s. 19 of the 2010 Act.