• Specific Year
    Any

PROCEEDS OF CRIME ACT 1987 - SECT 34C Debits from the Confiscated Assets Special Account

PROCEEDS OF CRIME ACT 1987 - SECT 34C

Debits from the Confiscated Assets Special Account

  (1)   The purposes of the Confiscated Assets Special Account are:

  (a)   to the extent to which it comprises suspended funds:

  (i)   making such payments, if any, to States or to foreign countries a s the Minister consid ers are appropriate under the equitable sharing program; and

  (ii)   making such payments as the Minister administering the Mutual Assistance Act considers necessary to satisfy the Commonwealth's obligations in respect of a registered foreign forfeiture order, an order registered under section   45 of the International War Crimes Tribunals Act 1995 or a registered foreign pecuniary penalty order; and

  (iii)   making such payments to a State as the Minister administering the Mutual Assistance Act considers necessary following a credit to the Account under par agraph   34B(1)(b) of money received from a foreign country; and

  (iv)   paying the prescribed annual management fee in accordance with the regulations; and

  (v)   making such payments by way of restitution as are required under subparagraph   21(6)(d)(ii), paragraph   22(4)(b) or subparagraph   31(6)(d)(ii); and

  (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.

  (2)   In this section:

"relevant offence" means an offence against section   131.1, 132.1, 132.6, 132.8, 134.1, 134.2, 135.1, 135.2, 135.4, 136.1, 137.1 or 137.2 of the Criminal Code or a prescribed offence.