Overview

This bill strengthens the UK's ability to impose sanctions and combat money laundering. Key changes include broadening the scope of sanctions to encompass gross human rights violations, enhancing powers to inspect ships internationally, and introducing independent reviews of counter-terrorism regulations.

Description

The Sanctions and Anti-Money Laundering Bill introduces several significant amendments:

• Expanded Sanctions: The bill extends the grounds for imposing sanctions to include accountability for or deterrence of gross human rights violations, promoting compliance with international human rights law and respect for human rights.
• Enhanced Ship Inspection Powers: New powers are granted to stop, board, and search ships (British, foreign, or without nationality) in international or foreign waters under certain conditions, primarily to detect prohibited goods linked to sanctions violations or other offenses. These powers require specific authorization from the Secretary of State and, in some cases, consent from other states.
• New Offences: The bill allows for the creation of new criminal offenses through regulations to enforce sanctions and prevent circumvention, with maximum penalties of 10 years' imprisonment (indictment) or 12 months (summary conviction).
• Reporting Requirements: The bill mandates regular reports to Parliament on the use of these new powers, including justifications for new offenses and maximum penalties. Independent reviews of regulations with counter-terrorism purposes are also mandated.
• Public Registers of Beneficial Ownership: The bill requires the UK government to assist British Overseas Territories in establishing publicly accessible registers of company beneficial ownership to aid in money laundering prevention.
• Procedure for Seized Goods: Regulations will establish procedures for handling goods seized from ships, including notification, claims processes, court determination, and compensation provisions.
• Retained EU Rights: The bill ensures that its provisions can modify retained EU law stemming from Brexit.

Government Spending

The bill will likely lead to increased government spending on enforcement activities, particularly for international ship inspections, independent reviews, and supporting British Overseas Territories in establishing beneficial ownership registers. Exact figures are not provided in the bill itself.

Groups Affected

Groups potentially affected include:

• Individuals and entities subject to sanctions: The broadened scope of sanctions will affect more individuals and entities linked to human rights abuses.
• Shipping companies and crews: International shipping operations may face increased scrutiny and potential delays due to enhanced inspection powers.
• Law enforcement agencies: Increased responsibilities and resources will be required for enforcement.
• British Overseas Territories: These territories will require resources and support to implement public registers of beneficial ownership.
• Parliament: Parliament will receive additional reports, requiring review and consideration.

Powered by nyModel