Proceeds of Crime Act 2002

CHAPTER 2 - THE CONFISCATION SCHEME  

PART 2-3 - FORFEITURE ON CONVICTION OF A SERIOUS OFFENCE  

Division 2 - Effect of forfeiture on conviction of a serious offence  

SECTION 98A   Third exception - property located outside Australia  

98A(1)    
Despite section 96 , if property forfeited under section 92 is property located outside *Australia:

(a)    that property vests in equity in the Commonwealth; and

(b)    that property only vests in the Commonwealth at law to the extent permitted under the law in force in the place where that property is located; and

(c)    the *responsible authority has power, on behalf of the Commonwealth, to do anything necessary or convenient to:

(i) give notice of, or otherwise protect, the Commonwealth ' s equitable interest in that property; or

(ii) arrange for the enforcement of, or give effect to, the declaration under section 95 that relates to the forfeiture of that property.

Note:

The following is an example of action by the responsible authority under subparagraph (1)(c)(ii): arranging for a request under section 32 of the *Mutual Assistance Act in relation to the enforcement of the declaration under section 95 of this Act that relates to the forfeiture of that property.

98A(2)    
Any action by the *responsible authority under subparagraph (1)(c)(i) is not a dealing for the purposes of subsection 99(1) .

98A(3)    
Despite section 96 and subsection (1) of this section, if:

(a)    property forfeited under section 92 is property located outside *Australia; and

(b)    under the law in force in the place where that property is located, that property vests in a person;

that property vests in that person under that law.

98A(4)    
Subsection (3) does not affect any equitable interest vested in the Commonwealth by paragraph (1)(a).