ISLAMABAD: The federal government on Monday issued the United Nations Security Council (Freezing and Seizure) Order, 2019 in accordance with the provisions of Pakistan’s UNSC Act, 1948 (Act No.XIV of 1948), ARY News reported.
The objective of the UNSC (Freezing and Seizure) Order 2019 is to streamline the procedure for implementation of the Security Council Sanctions against designated individuals and entities, said the Foreign Office (FO).
It may be recalled that the Chapter VII of the United Nations Charter authorises the 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 UNSC Act, 1948 (Act No. XIV of 1948).
Over the years the sanctions regime of the UNSC 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.
The UNSC (Freezing and Seizure) Order, 2019 has been formulated in line with the UNSC and the Financial Action Task Force (FATF) standards. Copy of the order can be accessed at: https://www.mofa.gov.pk/documents/sro/SRO-261.pdf