(1)  Forfeited property has no value in respect of satisfying an unexplained wealth liability until it is sold by or on behalf of the State.

(2)  If forfeited property is sold by or on behalf of the State, the value of the property is taken to be the remainder (if any) of the proceeds of the sale after the proceeds are applied to the following:

(a) firstly, any payment under section 172 in respect of the property, unless the value of such a payment has been removed or deducted from the property in some other way;

(b) secondly, the costs, charges and expenses arising from the sale of the property;

(c) thirdly, if a specified restraining order is or was in force for the property, expenses incurred in respect of the property by –

(i) the State, the DPP, the Commissioner of Police or police officers while the specified restraining order was in force; or

(ii) a person appointed under this Part to manage the property while the specified restraining order was in force;

(d) fourthly, any expenses incurred in respect of the property by –

(i) the State, the DPP, the Commissioner of Police or police officers after the property was forfeited; or

(ii) a person appointed to manage the property after it was forfeited;

(e) fifthly, any bona fide charges or other encumbrances on the property.

(3)  If the property is security for a mortgage that is also secured by other property then, despite any other Act and any inconsistent term of the mortgage, the extent of the security in relation to the sold property is the proportion that the value of the sold property bore to the total value of all the properties securing the mortgage at the time when the mortgage was entered into.

(4)  The value of forfeited property calculated under subsection (2) is –

(a) taken to be the value of the forfeited property; and

(b) to be deducted from the unexplained wealth liability of the respondent in respect of which the property was forfeited.

(5)  For the avoidance of doubt, the conversion of foreign currency is taken to be the sale of that currency.