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CONFISCATION OF CRIMINAL ASSETS ACT 2003 - SECT 58 Automatic forfeiture of restrained property on conviction for serious

CONFISCATION OF CRIMINAL ASSETS ACT 2003 - SECT 58

Automatic forfeiture of restrained property on conviction for serious offences

    (1)     This section applies if—

        (a)     a person is convicted of a serious offence; and

        (b)     a restraining order (other than an artistic profits restraining order) is made, whether before or after the conviction, over property in relation to the offence or a related serious offence committed by the person.

Note     A reference to a person generally includes a reference to a corporation as well as an individual, see the Legislation Act

, s 160. (See also the Legislation Act

, dict, pt 1, def person .)

    (2)     The restrained property is forfeited to the Territory at the end of whichever of the following periods applies (the relevant 14-day period ), except so far as the property is excluded from forfeiture under an exclusion order:

        (a)     if the restraining order was made before the conviction—14 days after the day of conviction;

        (b)     if the restraining order was made at the same time as or after the conviction—14 days after the day the restraining order comes into force.

Note 1     For the commencement of a restraining order, see the Legislation Act

, s 73 (4).

Note 2     The effect of an exclusion order for property subject to forfeiture is that the property is excluded from forfeiture, see s 74 (c).

    (3)     However, if an application for an exclusion order in relation to the property, or a part of the property, has been made (but not decided) before the end of the relevant 14-day period, the property (or that part) is not forfeited until the proceeding in relation to the exclusion order is finalised.