Economic Crime (Transparency and Enforcement) Bill – in the House of Commons at 9:34 pm on 7 March 2022.
Votes in this debate
“(1) The Secretary of State may by notice publish the name of a person being considered as a subject for sanctions.
(2) A person in respect of whom a notice has been published under subsection (1) is immediately subject to the provisions of this section.
(3) A person in respect of whom a notice has been published under subsection (1) is prohibited from—
(a) selling any assets they own or have an interest in,
(b) moving any assets they own or have an interest in out of the United Kingdom, or
(c) moving any of their funds out of the United Kingdom.
(4) ‘Assets’ in subsection (3)(a) or (b) includes (but is not limited to)—
(a) land;
(b) houses, flats or other private accommodation;
(c) commercial, industrial, agricultural and other buildings, premises or property;
(d) businesses;
(e) personal possessions, works of art, jewellery or collectibles with an individual value of more than £500;
(f) motor vehicles;
(g) yachts or boats; and
(h) aircraft.
(5) ‘Funds’ in subsection (3)(c) means financial assets and economic benefits of any kind, including (but not limited to)—
(a) gold, cash, cheques, claims on money, drafts, money orders and other payment instruments;
(b) deposits with relevant institutions or other persons, balances on accounts, debts and debt obligations;
(c) publicly and privately traded securities and debt instruments, including stocks and shares, certificates representing securities, bonds, notes, warrants, debentures and derivative products;
(d) interest, dividends or other income on or value accruing from or generated by assets;
(e) credit, rights of set-off, guarantees, performance bonds or other financial commitments;
(f) (letters of credit, bills of lading, bills of sale; and
(g) documents providing evidence of an interest in funds or financial resources.
(6) A person who breaches any prohibition under this section commits an offence.
(7) A person who engages in an activity knowing or intending that it will enable or facilitate the commission by another person of an offence under paragraph (6) commits an offence.
(8) A person guilty of an offence under subsection (6) is liable—
(a) on conviction on indictment, to imprisonment for a term not exceeding two years or to a fine or to both;
(b) on summary conviction—
(i) to imprisonment for a term not exceeding six months; or
(ii) to a fine which in Scotland or Northern Ireland may not exceed the statutory maximum,
or to both.
(9) A person guilty of an offence under subsection (7) is liable on summary conviction—
(a) to imprisonment for a term not exceeding six months; or
(b) to a fine which in Scotland or Northern Ireland may not exceed level 5 on the standard scale,
or to both.”—(Mr David Davis.)
This new clause would prevent individuals whom the Secretary of State has named as being considered as a subject for sanctions from selling their assets or moving funds or assets out of the UK.
Brought up.
Question put, That the clause be added to the Bill.
The Committee proceeded to a Division.
Nigel Evans
Deputy Speaker (Second Deputy Chairman of Ways and Means)
Order. I understand that some pass readers in the No Lobby are not working, so we are extending the time by which people are able to vote by another two minutes. [Hon. Members: “No!”] That is right—the No Lobby.
Division number 208
Economic Crime (Transparency and Enforcement) Bill — New Clause 29 — Asset Freezing in Respect of Individuals Considered for Sanctions
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
Secretary of State was originally the title given to the two officials who conducted the Royal Correspondence under Elizabeth I. Now it is the title held by some of the more important Government Ministers, for example the Secretary of State for Foreign Affairs.
A proposal for new legislation that is debated by Parliament.
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
The House of Commons votes by dividing. Those voting Aye (yes) to any proposition walk through the division lobby to the right of the Speaker and those voting no through the lobby to the left. In each of the lobbies there are desks occupied by Clerks who tick Members' names off division lists as they pass through. Then at the exit doors the Members are counted by two Members acting as tellers. The Speaker calls for a vote by announcing "Clear the Lobbies". In the House of Lords "Clear the Bar" is called. Division Bells ring throughout the building and the police direct all Strangers to leave the vicinity of the Members’ Lobby. They also walk through the public rooms of the House shouting "division". MPs have eight minutes to get to the Division Lobby before the doors are closed. Members make their way to the Chamber, where Whips are on hand to remind the uncertain which way, if any, their party is voting. Meanwhile the Clerks who will take the names of those voting have taken their place at the high tables with the alphabetical lists of MPs' names on which ticks are made to record the vote. When the tellers are ready the counting process begins - the recording of names by the Clerk and the counting of heads by the tellers. When both lobbies have been counted and the figures entered on a card this is given to the Speaker who reads the figures and announces "So the Ayes [or Noes] have it". In the House of Lords the process is the same except that the Lobbies are called the Contents Lobby and the Not Contents Lobby. Unlike many other legislatures, the House of Commons and the House of Lords have not adopted a mechanical or electronic means of voting. This was considered in 1998 but rejected. Divisions rarely take less than ten minutes and those where most Members are voting usually take about fifteen. Further information can be obtained from factsheet P9 at the UK Parliament site.
A person involved in the counting of votes. Derived from the word 'tallier', meaning one who kept a tally.
