CONFISCATION ACT 1997 - SECT 75 Liability under forfeiture or pecuniary penalty order to be satisfied by trustee

CONFISCATION ACT 1997 - SECT 75

S. 75(1) amended by Nos 68/2010 s. 54, 79/2014 s. 25(1).

    (1)     Any money realised by the trustee out of the disposal of, or otherwise in connection with, property which the trustee was directed to take control of by a restraining order or a civil forfeiture restraining order or an unexplained wealth restraining order must be applied by the trustee towards the following in the order in which they are set out—

        (a)     any fees, commissions and disbursements payable to the trustee under section 76(1);

        (b)     any conversion costs incurred by the trustee in connection with that property—

and the trustee must pay any money left over to the Minister for payment into the Consolidated Fund.

S. 75(2) amended by Nos 55/2014 s. 37, 79/2014 s. 25(2).

    (2)     If the trustee pays any money in satisfaction of the liability of a person under a forfeiture order, civil forfeiture order or pecuniary penalty order or under automatic forfeiture under section 35 or  36GA or unexplained wealth forfeiture, the liability of that person under the order or the automatic forfeiture or the unexplained wealth forfeiture is, to the extent of the payment, discharged.

S. 75(3) inserted by No. 55/2014 s. 58.

    (3)     If a court, when making a restraining order or a civil forfeiture restraining order, directs a person holding a prescribed position referred to in section 14(3) or 36H(3) (as the case may be) to take control of property, a reference in subsections (1) and (2) to the trustee is to be read as a reference to the person holding the prescribed position.