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On 8 October 2008, The Landsbanki Freezing Order 2008 (SI 2008/2668) came into force which gave effect to a freeze on funds owned, held or controlled by the Icelandic bank Landsbanki, including those owned, held or controlled in relation to that bank by the relevant Icelandic Authorities or the Government of Iceland. For the purposes of the Order ‘Landsbanki’ means Landsbanki Islands hf., a public limited company incorporated under the law of Iceland.
The Order was made because the Treasury believed that action to the detriment of the UK’s economy (or part of it) had been or was likely to be taken by certain persons who are the government of or resident of a country or territory outside the UK.
The Landsbanki Freezing Order 2008 was revoked with effect from 15 June 2009.
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