Save Search

Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download Current HansardDownload Current Hansard    View Or Save XMLView/Save XML

Previous Fragment    
Wednesday, 3 March 2004
Page: 25950


Mr McClelland asked the Minister representing the Minister for Justice and Customs, upon notice, on 10 February 2004:

Will the Minister update the answer provided to question No. 2353 (Hansard, 3 November 2003, page 21890).


Mr Ruddock (Attorney-General) —The Minister for Justice and Customs has provided the following answer to the honourable member's question:

The Insolvency and Trustee Service Australia (ITSA) has not changed its estimate of $5m in revenue during 2003-04 from assets forfeited under the Proceeds of Crime Act 2002 (the Act). Estimated revenue for the 2004-05 financial year (and for the years 2005-06 and 2006-07) will be based on the final outcome for the previous financial year.

ITSA advise that the balance of the Confiscated Assets Account (CAA) was $1,497,939 in distributable funds and $318,410 in suspended funds at 31 January 2004.

To date no revenue has been committed to programs or initiatives under section 298 of the Act.