Citation and commencement

1. This Order may be cited as the Landsbanki Freezing (Amendment) Order 2008 and comes into force on 21st October 2008.

Amendments to the Landsbanki Freezing Order

2.The Landsbanki Freezing Order 2008( 2 ) is amended as follows.

3. In article 1—

(a) in paragraph (2) insert at the beginning “Subject to paragraph (3),”;

(b) in paragraph (3) for “An offence may be committed under this Order by” substitute “The prohibitions imposed by article 4 apply to the following persons”.

4. In article 3—

(a) in paragraph (1) after “this Order” insert “(being persons believed by the Treasury to have taken or be likely to take action to the detriment of the United Kingdom’s economy (or part of it))”;

(b) in paragraph (2) after “must” insert “, as soon as is practicable,”.

5. In article 5(1) after “A person” insert “referred to in article 1(3)”.

6. In article 9(2) for “Schedule 2” substitute “the Schedule”.

7. Omit article 13.

8. In the Schedule—

(a) in paragraph 2 after “disclose” insert “to the Treasury”;

(b) in paragraph 3—

(i) after “ 3. ” insert “—(1)”;

(ii) in sub-paragraph (b) for the references to ‘person’ substitute ‘relevant institution’;

(c) in paragraph 6—

(i) omit “—(1)”;

(ii) in sub-paragraph (b) for “relation” substitute “response”.