Sri Lanka yesterday signed the United Nations Security Council Resolution 1373, which sets out strategies to combat terrorism and to control terrorist financing.
Minister of External Affairs, Prof. G.L. Peiris signed the order and it will be published in the Government Gazette shortly, the External Affairs Ministry said in a statement.
This order is based on the recommendation by the Secretary, Ministry of Defence and Urban Development, as the Competent Authority regarding the identification of persons, groups and entities, believed on reasonable grounds to be committing, attempting to commit, facilitating or participating, in the commission of acts of terrorism.
The substantial effect of an order under this Regulation is that all funds, assets and economic resources belonging to or owned by the designated persons or entities remain frozen until they are removed from the designated list. Moving, transferring or dealing with frozen assets without the permission of the Competent Authority is prohibited.
In terms of the Regulation, any person who fails to comply with an order to freeze assets is liable to heavy penalties.