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Schedule 1—Enhancements to the proceeds of crime regime

Schedule 1 Enhancements to the proceeds of crime regime

   

Proceeds of Crime Act 2002

1  Paragraph 5(ba)

After “derived”, insert “or realised, directly or indirectly,”.

2  Subparagraphs 20A(1)(g)(ii) and (3)(c)(ii)

After “derived”, insert “or realised, directly or indirectly,”.

3  Section 179A

After “derived”, insert “or realised, directly or indirectly,”.

4  Paragraphs 179E(1)(b) and (2)(b)

After “derived”, insert “or realised, directly or indirectly,”.

5  Subsection 179E(3)

After “derived”, insert “or realised, directly or indirectly,”.

6  Subsections 330(1) and (2)

Repeal the subsections, substitute:

             (1)  Property becomes proceeds of an offence if:

                     (a)  the property is wholly or partly derived or realised from a disposal or other dealing with * proceeds of the offence; or

                     (b)  the property is wholly or partly acquired using proceeds of the offence; or

                     (c)  an * encumbrance or a security on, or a liability incurred to acquire, retain, maintain or make * improvements to, the property is wholly or partly discharged using proceeds of the offence; or

                     (d)  the costs of retaining, maintaining or making improvements to the property are wholly or partly met using proceeds of the offence; or

                     (e)  the property is improved using proceeds of the offence;

including because of one or more previous applications of this section.

             (2)  Property becomes an instrument of an offence if:

                     (a)  the property is wholly or partly derived or realised from the disposal or other dealing with an * instrument of the offence; or

                     (b)  the property is wholly or partly acquired using an instrument of the offence; or

                     (c)  an * encumbrance or a security on, or a liability incurred to acquire, retain, maintain or make * improvements to, the property is wholly or partly discharged using an instrument of the offence; or

                     (d)  the costs of retaining, maintaining or making improvements to the property are wholly or partly met using an instrument of the offence; or

                     (e)  the property is improved using an instrument of the offence;

including because of one or more previous applications of this section.

7  Subsection 330(3)

Omit “ * proceeds of an offence or an * instrument”, substitute “ proceeds of an offence or an instrument ”.

8  Subsection 330(4)

Omit “ * proceeds of an offence or an * instrument”, substitute “ proceeds of an offence or an instrument ”.

9  Subsection 330(5)

Omit “becomes proceeds of an offence or an instrument”, substitute “becomes proceeds of an offence or an instrument ”.

10  Subsection 330(6)

Omit “ * proceeds of an * unlawful activity, or an * instrument”, substitute “ proceeds of an * unlawful activity, or an instrument ”.

11  At the end of section 330

Add:

             (7)  Paragraphs (1)(a) to (e) and (2)(a) to (e) do not limit each other.

             (8)  This section does not limit section 329.

12  Paragraph 336A(c)

Repeal the paragraph (including the note), substitute:

                     (c)  the property or wealth is not * proceeds or an * instrument of an offence.

13  Section 338

Insert:

improvements to property or * wealth includes additions to, altering, repairing, restoring, structuring, restructuring, or any other change to the whole or part of the property or * wealth (whether or not it results in an increase in value of the property or wealth).

14  Application of amendments

(1)       The amendments made by items 1 to 5 of this Schedule apply after the commencement of this Schedule in relation to property derived or realised, before or after that commencement, from the commission of an offence occurring before or after that commencement.

(2)       The amendments made by items 6 to 11 and 13 of this Schedule apply after the commencement of this Schedule in relation to:

                     (a)  property that is wholly or partly derived or realised from a disposal or other dealing, before or after that commencement, with property that is proceeds or an instrument of an offence (within the meaning of the Proceeds of Crime Act 2002 as amended by those items); and

                     (b)  property that is wholly or partly acquired, before or after that commencement, using property that is proceeds or an instrument of an offence (within the meaning of that Act as amended by those items); and

                     (c)  property for which an encumbrance, security or liability is wholly or partly discharged, before or after that commencement, using property that is proceeds or an instrument of an offence (within the meaning of that Act as amended by those items); and

                     (d)  property for which the costs of wholly or partly retaining, maintaining or improving are met, before or after that commencement, using property that is proceeds or an instrument of an offence (within the meaning of that Act as amended by those items); and

                     (e)  property that is improved, before or after that commencement, using proceeds or an instrument of an offence (within the meaning of that Act as amended by those items).

(3)       The amendment made by item 12 of this Schedule applies after the commencement of this Schedule in relation to property or wealth acquired before or after that commencement.

(243/17)