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This is a Bill, not an Act. For current law, see the Acts databases.
1996
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Proceeds of
Crime Amendment Bill 1996
No. ,
1996
(Attorney-General)
A
Bill for an Act to amend the Proceeds of Crime Act
1987
9610920—975/6.9.1996—(109/96) Cat. No.
96 5017 7 ISBN 0644 479132
Contents
A Bill for an Act to amend the Proceeds of Crime Act
1987
The Parliament of Australia enacts:
This Act may be cited as the Proceeds of Crime Amendment Act
1996.
This Act commences on the day on which it receives the Royal
Assent.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
1 Subsection 4(1) (definition of equitable
sharing program)
Omit “either or both”, substitute “any or
all”.
2 Subsection 4(1) (at the end of the definition
of equitable sharing program)
Add:
(c) the Commonwealth shares with a foreign country a proportion of any
proceeds of any unlawful activity recovered under a Commonwealth law where, in
the opinion of the Attorney-General, the foreign country has made a significant
contribution to the recovery of those proceeds or to the investigation or
prosecution of the unlawful activity.
3 At the end of subsection
34B(1)
Add:
; and (g) money, other than money referred to in paragraph (b), paid to
the Commonwealth by a foreign country in connection with assistance provided by
the Commonwealth in relation to the recovery by that country of the proceeds of
unlawful activity or the investigation or prosecution of unlawful
activity.
4 Subparagraph 34C(1)(a)(i)
After “to States”, insert “or to foreign
countries”.
5 Paragraph 34C(1)(b)
Repeal the paragraph, substitute:
(b) to the extent to which it comprises distributable funds—making
payments to a GBE of any proceeds of confiscated assets that relate to a
relevant offence that caused financial loss to the GBE.
6 Section 34D
Repeal the section, substitute:
(1) Once in each financial year the Attorney-General must determine, in
accordance with the regulations, the amount of distributable funds not required
for meeting payments under paragraph 34C(1)(b).
(2) As soon as practicable after the making of the determination, that
amount must:
(a) be deducted from the balance of distributable funds in the Trust Fund;
and
(b) be paid to the Consolidated Revenue Fund.