Anti-terrorism, Crime and Security Act 2001

[F1 Forfeiture order U.K.

Textual Amendments

F1 Sch. 1 Pt. 4B inserted (27.4.2017 for specified purposes, 30.1.2018 for the insertion of Sch. 1 para. 10X so far as not already in force, 31.1.2018 in so far as not already in force) by Criminal Finances Act 2017 (c. 22), s. 58(1)(6), Sch. 4 para. 2; S.I. 2018/78, regs. 2(i), 3(dd)

10Z2 (1) This paragraph applies while an account freezing order has effect. U.K.

(2) An application for the forfeiture of money held in the frozen account (whether all or part of the credit balance of the account) may be made—

(a) to a magistrates' court, by an enforcement officer, or

(b) to the sheriff, by the Scottish Ministers.

(3) The court or sheriff may order the forfeiture of the money or any part of it if satisfied that the money or part—

(a) is within subsection (1)(a) or (b) of section 1, or

(b) is property earmarked as terrorist property.

(4) But in the case of property earmarked as terrorist property which belongs to joint tenants, one of whom is an excepted joint owner, an order by a magistrates' court may not apply to so much of it as the court thinks is attributable to the excepted joint owner's share.

(5) For the purposes of sub-paragraph (4)—

(a) an excepted joint owner is a joint tenant who obtained the property in circumstances in which it would not (as against him or her) be earmarked, and

(b) references to the excepted joint owner's share of property are to so much of the property as would have been his or hers if the joint tenancy had been severed.

(6) Where an application is made under sub-paragraph (2), the account freezing order is to continue to have effect until the time referred to in sub-paragraph (7)(b) or (8).

(7) Where money held in a frozen account is ordered to be forfeited under sub-paragraph (3)—

(a) the [F2 relevant financial institution] with which the frozen account is maintained must transfer that amount of money into an interest-bearing account nominated by an enforcement officer, and

(b) immediately after the transfer has been made the account freezing order made in relation to the frozen account ceases to have effect.

(8) Where, other than by the making of an order under sub-paragraph (3), an application under sub-paragraph (2) is determined or otherwise disposed of, the account freezing order ceases to have effect immediately after that determination or other disposal.]

Textual Amendments

F2 Words in Sch. 1 para. 10Z2(7)(a) substituted (retrospectively) by Financial Services Act 2021 (c. 22), s. 33(2), Sch. 12 para. 8 (with s. 33(4))