Counter-Terrorism Bill

I would like to take a little further the argument that has just been put forward by my noble friend and look at the important question of how the courts would, or will, interpret Section 4 of the 2001 Act if the order relating to the Icelandic bank is brought forward. It is very difficult to read Section 4 of the 2001 Act as it stands as applying to purely economic matters. For example, if a foreign country, perfectly understandably and legitimately, bans the import of British beef on the grounds of foot and mouth disease or mad cow disease, that would unquestionably be an act to the detriment of the United Kingdom’s economy. I cannot imagine any court interpreting that order banning the export of British cattle as being within the operation of Section 4. The Government have to face the fact that if Section 4 in its present form comes in front of a court, there will be great difficulty in interpreting it. It is perfectly possible that that court might come to the conclusion that the use of these powers in the present circumstances against the Icelandic bank was not, in fact, a legitimate use of Section 4. The Government will have to consider not only what Section 4 should mean but what it in fact means now.