Proceeds of Crime Act 2002

CHAPTER 4 - ADMINISTRATION  

PART 4-1 - POWERS AND DUTIES OF THE OFFICIAL TRUSTEE  

Division 5 - Miscellaneous  

SECTION 289   Income generated from controlled property  

289(1)    
The * Official Trustee may apply any income generated from * controlled property to the payment of amounts payable to the Official Trustee, in relation to the property, under regulations made for the purposes of section 288 .

Note:

See also section 267AB , which extends the meaning of controlled property for the purposes of this section.

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History

S 289(1) amended by No 3 of 2021, s 3 and Sch 7 item 44, by inserting the note, effective 17 February 2021.

289(2)    

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However, if the *controlled property is returned to its owner as a result of a restraining order ceasing to be in force or as a result of the controlled property ceasing to be subject to forfeiture under this Act, the * Official Trustee must arrange for an amount to be paid to the owner that is equal to the difference between:

(a)    the sum of all the amounts applied under this section in relation to the property; and

(b)    the sum of all the amounts of expenditure by the * Official Trustee that were necessary for maintaining the property or generating the income from property.

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History

S 289(2) amended by No 3 of 2021, s 3 and Sch 7 item 45, by substituting " the *controlled property is returned to its owner as a result of a restraining order ceasing to be in force or as a result of the controlled property ceasing to be subject to forfeiture under this Act, " for " the *restraining order relating to the *controlled property ceases to be in force and the property is returned to its owner, " , effective 17 February 2021.

289(3)    
This section does not affect other ways in which the * Official Trustee may recover amounts payable to the Official Trustee under regulations made for the purposes of section 288 .

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