CONFISCATION ACT 1997 - SECT 40U Application for substitution order

CONFISCATION ACT 1997 - SECT 40U

    (1)     If—

        (a)     a court has made a section 40S exclusion order excluding property (the excluded property ) from the operation of an unexplained wealth restraining order; and

        (b)     the owner of the excluded property owns or controls other property (the restrained property ), not less than the value of the excluded property, which remains subject to the unexplained wealth restraining order but is unlikely to be able to vest in the Minister—

the applicant for the unexplained wealth restraining order may apply to the court for a substitution order to substitute the excluded property for the restrained property for the purposes of unexplained wealth forfeiture.

    (2)     An application under subsection (1) must be made within 30 days after the making of the section 40S exclusion order and must—

        (a)     specify the excluded property; and

        (b)     specify the restrained property; and

        (c)     state why, in the opinion of the applicant, it is unlikely that the restrained property is unlikely to be able to vest in the Minister.

    (3)     On the application for a substitution order under subsection (1), the section 40S exclusion order is stayed to the extent that it applies to the excluded property until a determination of the application is made under section 40V.

S. 40V inserted by No. 79/2014 s. 16.