Commonwealth Consolidated Acts Commonwealth Consolidated Acts (1)
Where:
(a) a foreign restraining order is made against property of a person in
reliance on the person’s conviction, or alleged commission, of a foreign
serious offence;
(b) the foreign restraining order is registered in a court in
(c) a foreign pecuniary penalty order has been or is made against the
person in reliance on the person’s conviction of the offence or a
related foreign serious offence; and
(d) the foreign pecuniary penalty order has been or is registered in a
court in
then, upon the
registration of the foreign restraining order or the foreign pecuniary penalty
order, whichever last occurs, there is created, by force of this section, a
charge on the property to secure the payment to the Commonwealth of the
penalty amount.
(2)
Where a charge is created by subsection (1) on property of a
person, the charge ceases to have effect in respect of the property:
(a) upon payment to the Commonwealth of the penalty amount in
satisfaction of the foreign pecuniary penalty order;
(b) upon the person becoming a bankrupt;
(c) upon the sale or other disposition of the property:
(i) under an order under section 63;
(ii) by the owner of the property with the consent of the court in
which the foreign pecuniary penalty order is registered; or
(iii) where an order under section 61 directed the Official
Trustee to take control of the property—by the owner of the property
with the consent of the Official Trustee;
(d) upon the sale of the property to a purchaser in good faith for
value who, at the time of purchase, has no notice of the charge; or
(e) upon the cancellation of the registration of the relevant foreign
restraining order, or the cancellation of the registration of the relevant
foreign pecuniary penalty order, in accordance with the Mutual Assistance Act;
whichever first occurs.
(3)
A charge created on property by subsection (1):
(a) is subject to every encumbrance on the property that came into
existence before the charge and that would, apart from this subsection, have
priority over the charge;
(b) has priority over all other encumbrances; and
(c) subject to subsection (2), is not affected by any change of
ownership of the property.
(4)
Where a charge is created by subsection (1) on property of a
particular kind and the provisions of any law of the Commonwealth or of a
State or Territory provide for the registration of title to, or charges over,
property of that kind, the Official Trustee or the DPP may cause the charge so
created to be registered under the provisions of that law and, if the charge
is so registered, a person who purchases or otherwise acquires an interest in
the property after the registration of the charge shall, for the purposes of
paragraph (2)(d), be deemed to have notice of the charge at the time of
purchase or acquisition.