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.
"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.