Part 2: Terrorist property Counter-terrorism financial investigators Section 41: Extension of powers to financial investigators
Section 41 inserts into TACT new section 63F, which makes provision for counter-terrorism financial investigators.
	Sub-section (1) provides that TACT is to be amended as set out in sub-sections (2) to (5).
	Sub-section (2) inserts a new section 63F (Counter-terrorism financial investigators) into TACT. New section 63F(1) requires the metropolitan police force to provide a system for the accreditation of financial investigators, known as counter-terrorism financial investigators (CTFIs). Section 63F(2) provides that the system of accreditation must include provision for monitoring the performance of CTFIs and the withdrawal of accreditation, in specified circumstances. Sections 63F(3) – (7) provide that a person may be accredited as a CTFI if they are: a member of civilian staff of a police force in England and Wales, or a member of staff of the City of London police or the Police Service of Northern Ireland. A person may be accredited in relation to TACT or ATCSA, or in relation to particular provisions of either of those Acts. The accreditation may be limited to specified purposes. The metropolitan police force is required to make provision for training in financial investigation and the operation of TACT and ATCSA.
	Sub-section (3) amends Part 1 of Schedule 5 to TACT to allow an appropriate officer (which term is defined in paragraph 5(6)) to apply under paragraph 5 to a Circuit judge or District Judge for an order requiring a person to produce or to provide access to materials (consisting of or including excluded or special procedure material) in his possession. New sub-paragraph 5(1A) provides that a CTFI may only apply for such an order for the purposes of a terrorist investigation so far as relating to terrorist property. Part 1 of Schedule 5 is also amended to allow CTFIs to apply for an order under paragraph 13 (explanations) requiring any person specified in the order to provide an explanation of any material produced or made available to a counter-terrorism financial investigator under paragraph 5.
	Sub-section (4) amends Schedule 6 to TACT (which makes provision for financial information orders) to enable a CTFI to be named in the order and to require a financial institution to which the order applies to provide customer information for the purposes of a terrorist investigation.
	Sub-section (5) amends Schedule 6A to TACT to enable a CTFI to apply for an account monitoring order for the purposes of a terrorist investigation. It also provides that, where an application for an account monitoring order is made by a CTFI, the description of information specified in that order may be varied by a different CTFI and an application to discharge or vary that order may be made by a different CTFI.
	Sub-section (6) inserts new paragraph 10(7A) in Schedule 1 to ATCSA which makes provision for the payment of compensation where cash was seized by a CTFI.