A statutory instrument (SI) is the principal form in which delegated legislation is made in Great Britain.
Landsbanki, also commonly known as Landsbankinn which is now the name of the current rebuilt bank, was one of the largest Icelandic commercial banks that failed as part of the 2008–2011 Icelandic financial crisis when its subsidiary sparked the Icesave dispute. On October 7, 2008, the Icelandic Financial Supervisory Authority took control of Landsbanki and created a new bank for all the domestic operations called Nýi Landsbanki so that the domestic bank could continue to operate, the new bank continued to operate under the Landsbanki name in Iceland.
The Anti-terrorism, Crime and Security Act 2001 is an Act of Parliament of the United Kingdom, formally introduced into Parliament on 19 November 2001, two months after the terrorist attacks in the United States on 11 September. It received royal assent and came into force on 14 December 2001. Many of its measures are not specifically related to terrorism, and a Parliamentary committee was critical of the swift timetable for such a long bill including non-emergency measures.
The Prevention of Terrorism Act 2005 was an Act of the Parliament of the United Kingdom, intended to deal with the Law Lords' ruling of 16 December 2004 that the detention without trial of eight foreigners at HM Prison Belmarsh under Part 4 of the Anti-terrorism, Crime and Security Act 2001 was unlawful, being incompatible with European human rights laws.
The Racial and Religious Hatred Act 2006 is an Act of the Parliament of the United Kingdom which creates an offence in England and Wales of inciting hatred against a person on the grounds of their religion. The Act was the Labour Government's third attempt to bring in this offence: provisions were originally included as part of the Anti-Terrorism, Crime and Security Bill in 2001, but were dropped after objections from the House of Lords. The measure was again brought forward as part of the Serious Organised Crime and Police Bill in 2004-5, but was again dropped in order to get the body of that Bill passed before the 2005 general election.
The Delegated Powers and Regulatory Reform Committee is a committee of UK parliamentarians. Members are drawn from the House of Lords. The committee has several primary functions.
A Scottish statutory instrument is subordinate legislation made by the Scottish Ministers, as well as subordinate legislation made by public bodies using powers provided to be exercisable by Scottish statutory instrument. SSIs are the main form of subordinate legislation in Scotland, being used by default to exercise powers delegated to the Scottish Ministers, the Lord Advocate, the High Court of Justiciary, the Court of Session, and the Queen-in-Council.
From 2000 to 2015, the British Parliament passed a series of Terrorism Acts that were aimed at terrorism in general, rather than specifically focused on terrorism related to Northern Ireland. The timings were influenced by the September 11, 2001 attacks and 7 July London bombings, as well as the politics of the global War on Terrorism, according to the politicians who announce them as their response to a terrorism act.
The Financial Sanctions Unit of the Bank of England formerly administered financial sanctions in the United Kingdom on behalf of HM Treasury. It was in operation since before 1993, when it applied sanctions against the Government of Libya. More recently, since Libya became an ally of the United Kingdom, sanctions have been applied against those who allegedly fought against the Government of Libya at the time it was not an ally. Responsibility for the administration of Financial Sanctions in the UK transferred from the Bank of England to HM Treasury on 24 October 2007. In April 2016 HM Treasury set up the Office of Financial Sanctions Implementation, a new body whose mission is to "provide a high-quality service to the private sector, working closely with law enforcement to help ensure that financial sanctions are properly understood, implemented and enforced."
The United Nations Act 1946 is an Act of the Parliament of the United Kingdom which enables His Majesty's Government to implement resolutions under Article 41 of the United Nations Charter as Orders in Council. Thus Parliament delegated the power to enact such resolutions without the approval of Parliament. However, the prospective Order must be laid before either Parliament or the Scottish Parliament. A similar mechanism was later used in the European Communities Act 1972 and the Terrorist Asset-Freezing etc. Act 2010.
The Icesave dispute was a diplomatic dispute among Iceland, the Netherlands and the United Kingdom which began after the privately owned Icelandic bank Landsbanki was placed in receivership on 7 October 2008. As Landsbanki was one of three systemically important financial institutions in Iceland to go bankrupt within a few days, the Icelandic Depositors' and Investors' Guarantee Fund had no remaining funds to make good on deposit guarantees to foreign Landsbanki depositors who held savings in the Icesave branch of the bank.
The Banking Act 2008 is an Act of the Parliament of the United Kingdom that entered into force on the 21 February 2008 in order to enable the UK government to nationalise high-street banks under emergency circumstances by secondary legislation. The Act was introduced in order to nationalise the failing bank Northern Rock after the bank was supported by Bank of England credit and a private-sector solution was deemed "not to provide sufficient value for the taxpayer" by the UK government.
The Icelandic financial crisis was a major economic and political event in Iceland between 2008 and 2010. It involved the default of all three of the country's major privately owned commercial banks in late 2008, following problems in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom. Relative to the size of its economy, Iceland's systemic banking collapse was the largest of any country in economic history. The crisis led to a severe economic slump in 2008–2010 and significant political unrest.
The 2010 Icelandic loan guarantees referendum, also known as the Icesave referendum, was held in Iceland on 6 March 2010.
The Terrorist Asset-Freezing Act 2010 is an Act of the United Kingdom Parliament that was in force from 10 February 2010 until its repeal on 17 December that same year by the Terrorist Asset-Freezing etc. Act 2010.
The Secondary Legislation Scrutiny Committee is a select committee of the House of Lords that refers secondary legislation, such as statutory instruments, to the House that it considers interesting or important. This is unlike the Joint Committee on Statutory Instruments and Commons Select Committee on Statutory Instruments, which only scrutinise instruments for legal and drafting defects. The specific criteria used by the committee are whether the legislation—
- is politically or legally important or gives rise to issues of public policy likely to be of interest to the House
- may be inappropriate in view of changed circumstances since the enactment of the parent Act
- may inappropriately implement European Union legislation
- may imperfectly achieve its policy objectives.
A referendum on the repayment of loan guarantees by Iceland to the governments of the United Kingdom and the Netherlands over the failure of the Icesave bank was held in Iceland on 9 April 2011. This was the second referendum on the issue after a previous one was held in March 2010. After the referendum failed to pass, the British and Dutch governments said that they would take the case to the European courts.
The following is a timeline of the Icelandic financial crisis which began in earnest in mid September 2008. The combined assets of the three largest Icelandic banks amounted to ten times the country's total gross domestic product (GDP) at the time of their collapse. Two-thirds of the banks liabilities were denominated in a foreign currency. When the world's credit markets dried up, the banks were unable to refinance their loans and the government, as a lender of last resort, was unable to offer backing to the privately owned banks.
The Independent Reviewer of Terrorism Legislation is an independent person, appointed by the Home Secretary and by the Treasury for a renewable three-year term and tasked with reporting to the Home Secretary and to Parliament on the operation of counter-terrorism law in the UK.
InDefence, also known as In Defence of Iceland, was a grassroots citizen movement formed in October 2008, in the first instance in protest at the Landsbanki Freezing Order 2008, passed at 10 am on 8 October 2008, during the 2008–2011 Icelandic financial crisis.
