Part 1: Espionage, sabotage and persons acting for foreign powers Powers of search etc. Schedule 5: Account monitoring orders
Schedule 5 provides for the making of applications for account monitoring orders. These orders require financial institutions to provide specified information relating to accounts. The definition of financial institution is the same as in Schedule 6 to the Terrorism Act 2000, and includes credit unions, the National Savings Bank and a person carrying on a relevant regulated activity such as managing investments.
	Paragraph 1 outlines the grounds and requirements of an application for an account monitoring order, including what information must be in the application. It sets out that an appropriate officer – a constable or an NCA officer in England and Wales or Northern Ireland, or the procurator fiscal in Scotland – may apply to a judge for an account monitoring order, and that this may be granted if judge is satisfied that the order is sought for the purposes of an investigation into foreign power threat activity and that it will enhance the effectiveness of the investigation. Sub-paragraph (6) sets out the requirements imposed on a financial institution under an account monitoring order, which must provide specified information how, when and where specified. As set out in sub-paragraph (7), the period for which the information is required under the order can be longer than 90 days from the day on which the order is made.
	Paragraph 2 provides that an application for an account monitoring order can be made without notice to a judge in chambers.
	Paragraph 3 provides that an application may be made to the court to discharge or vary an account monitoring order. Subparagraph (1) sets out that this can be made either by the applicant for the order or any person affected by the order. Where the application for the order was made by a police officer or NCA officer, this application may be made be a different police officer or NCA officer respectively.
	Paragraph 4 sets out that rules of court can make provision as to the practice and procedure of proceedings relating to account monitoring orders.
	Paragraph 5 provides that account monitoring orders have effect as if they were an order of the court and in spite of any restriction imposed on the disclosure of information found in legislation or otherwise.
	Paragraph 6 provides that, where a person makes a statement in response to an account monitoring order, such a statement cannot be used as evidence against that person in criminal proceedings unless sub-paragraphs (2) and (3) apply.
	Paragraph 7 defines terminology relevant to Schedule 5, including the meaning of "financial institution" which is defined by reference to that in Schedule 6 Terrorism Act 2000. Accordingly, any updates to the definition in that Act will automatically apply to these provisions.
	A hypothetical example of the use of an account monitoring order would include:
Hypothetical example (use of an account monitoring order to investigate the financing of a suspect by a foreign power)
The police are investigating an individual for foreign interference in elections and have intelligence to suggest that once the suspect has been paid by a foreign power, they will then commit the relevant electoral offence in return for the payment.
The police apply for an account monitoring order to monitor in real-time when the money is paid into the suspect’s bank account. The order successfully allows police to be alerted when the money has been paid into the account, which signals that the interference offence is about to take place. The police are then able to successfully disrupt the suspect from committing the offence. As well as disrupting the activity, the account monitoring order provides police with key evidence linking the suspect to the foreign power to aid in establishing the foreign power condition in a subsequent prosecution.