The Act grants the Governor of the Central Bank of Libya the power to freeze, for a period not to exceed one month, the balances in accounts suspected of having a connection with a money laundering offence.

seizure

In November 2004, he requested the same parastatal to give 100,000 to the Permanent Mission in New York to meet his expenses.

Assets freeze

The assets freeze

West Oil Investments Inc.

But the effectiveness of freezing action cannot be judged purely in terms of amounts frozen.

There are those who question the usefulness of action to freeze assets, arguing that amounts frozen are small and not commensurate with the effort involved in implementing the freezing measures.

Other States are not able to impose indefinite freezing orders and must show that an official investigation or judicial proceeding has begun in order to continue freezing beyond a set period, producing appropriate evidence in support.

While in the three months after 11 September 2001 US 112 million in alleged terrorist funds were frozen, only US 24 million were frozen in the two years that followed.

The amount fluctuates as many frozen accounts are in other currencies.

Freezing, seizure and confiscation

Scope of the assets freeze

The Panel came across several cases where top functionaries of the NTGL instructed their subordinates to mis utilise divert misapprpriate the Government funds without obtaining the approval of the budgetary process.

In August September 2004 the Chairman of the NTGL directly requested one of the parastatals to give 205,983.65 to a person to organize the 157th anniversary celebration.

Any assets frozen?

Any assets frozen?

In January 2004, the Minister of Commerce and Industry requested BIVAC to purchase four vehicles (two buses and two Jeeps worth 162,000) using the Government share of the Pre inspection fees for January May 2004.

The declaration must include the name of the beneficiary and the object and the value of the frozen assets and economic resources.

Freeze the Settlement Freeze

Travel ban and assets freeze

No such funds, financial assets or economic assets have been frozen or unfrozen.

Freezing of economic and financial assets

Arms embargo

Selected States with an automatic freeze of assets

As a consequence, these funds were blocked on 10 March 2005.

Secondly, we froze our defence expenditure.

(c) Executing searches and seizures, and freezing

Financial and economic assets freeze

Article 2 Freezing of assets and economic resources

Due to the imposition of a recruitment freeze in the first seven months of the period under review, plans to reduce the vacancy rate were frustrated.

In addition the freezing of the assets of Albarakat, the major banking institution, had impeded remittances and economic activity and had yet to be lifted.

(c) Executing searches and seizures, and freezing

As a result of the financial shortfall, a recruitment freeze was in effect.

Question on allowing the freezing of funds linked to terrorist organizations Authorize the freezing of funds without delay , pursuant to paragraph 1(c) of the resolution.

Freezing, seizure and confiscation of proceeds of drug trafficking offences

Please include, to the extent possible, in each listing the following information.

Improving implementation of the assets freeze measures

Identification(s) of the person(s) or entities whose assets have been frozen

This kept his budget from being reduced for the purchase of the vehicle.

U.S. officials, just a couple of weeks ago, froze a Swiss bank account belonging to Mr. Jain, and that bank account had 14.9 million U.S. dollars on it.

The fight against terrorist financing freezing and seizing of assets

This list should also include assets frozen pursuant to resolution 1267 (1999), 1333 (2001) and 1390 (2002)

This list should also include assets frozen pursuant to 1267 (1999), 1333(2001), and 1390(2002).

There are no persons or entities whose assets have been frozen.