Comment The actual law (Score 1) 418
Section 58 of the Terrorism Act 2000 makes it an offence to collect or make a record of information of a kind likely to be useful to a terrorist, or possesses a document or record containing information of that kind.
There is a specific defence under s.58(3) if the person shows he had a reasonable excuse.
The law was clarified by the Appellate Committee of the House of Lords in R. v. G.; R. v. J. [2009] 2 W.L.R. 724: Information is not caught by s.58 if it is everyday information that also happens to be useful to a terrorist (eg a train timetable), but information which is by its very nature designed to provide practical assistance is.
If it is caught by the section, then the issue of reasonable excuse arises - and it must be an objectively reasonable excuse. In other words, saying you have bomb making manuals because you like to blow shit up is unlikely to provide a defence. That you work in explosives, or study chemistry is.
So to be clear - the Anarchists Cookbook is not "banned", but if you do have it, it must be for an objectively justifiable reason.
It is similar to the law on knives - you can have one in public, but it is up to you to show good cause.
In practice, nerds who just collect the information are unlikely to be prosecuted, unless there is some other feature - making it available to others, having a shit-load of pipebombs and racist literature etc.
(That is the law, not a justification of it).
(IAAL)