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Criminal Proceeds Confiscation Act 2002 – 9 December 2016

Criminal Proceeds Confiscation Regulation 2013 – 9 August 2013

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Illegally acquired property or serious crime derived property retains its character even if it is disposed of, including by using it to acquire other property, until it stops being property of that character. It stops being property of that character, for example, when acquired for sufficient consideration by a person without knowing, in circumstances not likely to arouse a reasonable suspicion that the property was illegally acquired property or serious crime derived property or when it vests in a person on the distribution of the estate of a deceased.

  • Sections 22, 23, 25, 26, 27

Property connected to an offence may be forfeited to the government.

  • Sections 56, 58, 59, 62, 93A, 93ZY, 93ZZ, 93ZZB, 93ZZC, 93ZZF, 93ZZO, 146, 151, 153

Proceeds of an offence (including book deals)/ unexplained wealth (suspected to have been acquired unlawfully) may be collected by the government.

  • Sections 77, 78, 79, 82, 84, 89A, 89E, 89F, 89G, 89O, 89Q, 90, 178, 184, 187, 193, 200, 202, 203, 207
Reason for law

To remove the financial gain and increase the financial loss associated with illegal activity, whether or not a particular person is convicted of an offence because of the activity. (Section 4)

Relevant links

Office of the Director of Public Prosecutions

Crime and Misconduct Commission

CTH: Australian Financial Security Authority

Media article

Bad money for good

Critique

Section 6: notes forming part of an Act is not common for Acts of Parliament.

Section 12 should perhaps reference ‘legal practitioner’ instead of ‘solicitor’.

Within section 89I, there is an inappropriate break in the word ‘forfeiture’.

The automatic forfeiting provisions of Part 5 may result in unjust outcomes. To counter against unjust outcomes, notice of automatic forfeiture should be given to all and sundry and the public at large.

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