Proceeds of Crime Act 2002

24 Inadequacy of available amount: discharge of orderE+W

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(1)This section applies if—

(a)a court has made a confiscation order,

(b)[F1the designated officer for a magistrates' court] applies to the Crown Court for the discharge of the order, and

(c)the amount remaining to be paid under the order is less than £1,000.

(2)In such a case the court must calculate the available amount, and in doing so it must apply section 9 as if references to the time the confiscation order is made were to the time of the calculation and as if references to the date of the confiscation order were to the date of the calculation.

(3)If the court—

(a)finds that the available amount (as so calculated) is inadequate to meet the amount remaining to be paid, and

(b)is satisfied that the inadequacy is due wholly to a specified reason or a combination of specified reasons,

it may discharge the confiscation order.

(4)The specified reasons are—

(a)in a case where any of the realisable property consists of money in a currency other than sterling, that fluctuations in currency exchange rates have occurred;

(b)any reason specified by the Secretary of State by order.

(5)The Secretary of State may by order vary the amount for the time being specified in subsection (1)(c).

Textual Amendments

F1Words in s. 24(1)(b) substituted (1.4.2005) by Courts Act 2003 (c. 39), s. 110(1), Sch. 8 para. 406(a); S.I. 2005/910, art. 3(y)

Modifications etc. (not altering text)

C1Pt. 2 applied by 1984 c. 60, s. 58(8B) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 14(3); S.I. 2003/333, art. 2, Sch.)

C2Pt. 2 applied by 2000 c. 11, Sch. 8 para. 34(3A) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 39(5); S.I. 2003/333, art. 2, Sch.)

Commencement Information

I1S. 24 in force at 24.3.2003 by S.I. 2003/333, art. 2, Sch.