Proceeds of Crime Act 2002

CHAPTER 4 - ADMINISTRATION

PART 4-4 - CHARGES OVER RESTRAINED PROPERTY FOR PAYMENT OF CERTAIN AMOUNTS

CCH Note: Part 4-4 heading will be substituted by No 4 of 2010, s 3 and Sch 1 item 214, effective 19 May 2010. The heading will read:

PART 4-4 - CHARGES OVER RESTRAINED PROPERTY TO SECURE CERTAIN AMOUNTS PAYABLE TO THE COMMONWEALTH

Division 2 - Charges to secure certain amounts payable to the Commonwealth

CCH Note: Div 2 heading will be repealed by No 4 of 2010, s 3 and Sch 1 item 216, effective 19 May 2010.

SECTION 302B

302B When the charge ceases to have effect
A charge created under section 302A ceases to have effect on a * person's property on the earliest of the following events:

(a) the amount owing under subsection 293(3) is paid to the Commonwealth;

(b) there is forfeited to the Commonwealth under this Act:

(i) all of the property that is covered by the charge; or

(ii) some of the property that is so covered, being property of a value that equals or exceeds the amount owing under subsection 293(3) ;

(c) the person sells or disposes of the property with the consent of the * Official Trustee.

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