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"UN: Inernational Convention for the Suppression of the Financing of Terrorism, 1999" [2005] ELECD 332; in Tully, Stephen (ed), "International Documents on Corporate Responsibility" (Edward Elgar Publishing, 2005)

Book Title: International Documents on Corporate Responsibility

Editor(s): Tully, Stephen

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781843768197

Section: Chapter 109

Section Title: UN: Inernational Convention for the Suppression of the Financing of Terrorism, 1999

Number of pages: 4

Extract:

109. UN: International Convention for the
Suppression of the Financing of Terrorism,
1999

Commentary: The Financing of Terrorism Convention (39 ILM 270 (2000), entry
into force 2002) was prepared by an Ad Hoc Committee and a Working Group of
the Sixth Committee: UN Doc A/C.6/54/L.2, Annex I. Governments have
condemned all terrorist acts, methods and practices as criminal and unjustifiable,
wherever and by whomever committed: UNGA Resolution 49/60 (1994) on the
Declaration on Measures to Eliminate International Terrorism. UNGA Resolution
51/210 (1996), paragraph (3)(f), called upon governments to prevent the financing of
terrorists and terrorist organisations both directly or indirectly through organisa-
tions claiming to have charitable, social or cultural goals or who are engaged in
unlawful activities (such as illicit arms trafficking, drug dealing, racketeering or the
exploitation of persons). The Resolution also called for regulatory measures to
counteract financial movements suspected to be intended for terrorist purposes
without impeding the freedom of legitimate capital movements. See further, Security
Council Resolution 1373 (2001). In addition to the provisions extracted below,
Article 8 envisages the identification, detection and freezing or seizure of funds. The
Annex lists treaties with respect to unlawfully seizing aircraft, crimes against inter-
nationally protected persons, hostages, protecting nuclear material, unlawful acts
against maritime navigation or fixed platforms located on the continental shelf and
terrorist bombings.




Article 1
For the purposes of this Convention:

1. `Funds' means assets of every kind, whether tangible or intangible, movable or immov-
able, ...