My honourable friend the Exchequer Secretary to the Treasury has made the following Written Ministerial Statement.

An Order in Council in respect of the Turks and Caicos Islands has been made today. It comes into force on 18 March 2010.

The Order in Council provides new powers for the Governor of the Turks and Caicos Islands to implement a graduated range of financial restrictions in response to certain risks to the interests of the Turks and Caicos Islands or the United Kingdom. The risks it addresses are those posed by money laundering, terrorist financing, and the proliferation of chemical, biological, radiological and nuclear weapons. Any directions given under the order will be made by the governor of the islands.

The powers replicate those in Schedule 7 to the Counter-Terrorism Act 2008 which apply to the United Kingdom. The Order in Council has been made in response to a request by the Turks and Caicos Islands.