27.This definition comes into play in the “money laundering” offence (section 18) and the power to seize and forfeit cash at borders (sections 25 and 28). Subsection (1) makes it clear that terrorist property can include both property to be used for terrorism and proceeds of acts of terrorism. Subsection (2)(a) makes explicit that the proceeds of an act of terrorism covers not only the money stolen in, say, a terrorist robbery, but also any money paid in connection with the commission of terrorist acts. Subsection (2)(b) makes explicit that any resources of a proscribed organisation are covered: not only the resources they use for bomb-making, arms purchase etc but also money they have set aside for non-violent purposes such as paying rent.
Commentary Part Iii: Terrorist Property Section 14: Terrorist property