The federal government of Pakistan on Monday (March 5) issued the United Nations Security Council (Freezing and Seizure) Order, 2019 in accordance with the provisions of Pakistan’s United Nations Security Council (UNSC) Act, 1948, as government will freeze accounts and seizure of assets linked to organisations banned by the UN Security Council (UNSC).
“The objective of the UNSC (Freezing and Seizure) Order 2019 is to streamline the procedure for implementation of Security Council Sanctions against designated individuals and entities,” the statement read. “It may be recalled that the Chapter VII of the United Nations Charter authorises the United Nations Security Council (UNSC), acting under Article 41, to decide measures, not involving the use of armed force, to give effect to its decisions for the maintenance of international peace and security. In Pakistan, such decisions of the Security Council are implemented through the United Nations Security Council Act (UNSC), 1948 (Act No. XIV of 1948).
“Over the years the sanctions regime of the United Nations Security Council have evolved. A key measure of these sanctions regimes is “assets freeze” under which States are required to freeze/seize the assets of designated entities and individuals as soon as they are designated by the relevant UNSC Sanctions Committee.”
This UNSC Order 2019 has been made keeping in view UNSC and Financial Action Task Force standards.
Your email address will not be published. Required fields are marked *
17 August, 2019