Proceeds of Crime Act 2002

67 Seized money E+W

(1) This section applies to money which—

(a) is held by a person, and

(b) is held in an account maintained by him with a bank or a building society.

(2) This section also applies to money which is held by a person and which—

(a) has been seized by a constable under section 19 of the Police and Criminal Evidence Act 1984 (c. 60) (general power of seizure etc), and

(b) is held in an account maintained by a police force with a bank or a building society.

(3) This section also applies to money which is held by a person and which—

(a) has been seized by a customs officer under section 19 of the 1984 Act as applied by order made under section 114(2) of that Act, and

(b) is held in an account maintained by the Commissioners of Customs and Excise with a bank or a building society.

[F1 (5) If—

(a) a confiscation order is made against a person holding money to which this section applies, and

(b) a receiver has not been appointed under section 50 in relation to the money,

a magistrates' court may order the bank or building society to pay the money to the designated officer for the court on account of the amount payable under the confiscation order.]

[F2 (5A) A person applying for an order under subsection (5) must give notice of the application to the bank or building society with which the account is held.

(5B) In the case of money held in an account not maintained by the person against whom the confiscation order is made, a magistrates' court—

(a) may make an order under subsection (5) only if the extent of the person's interest in the money has been determined under section 10A, and

(b) must have regard to that determination in deciding what is the appropriate order to make.]

(6) If a bank or building society fails to comply with an order under subsection (5)—

(a) the magistrates’ court may order it to pay an amount not exceeding £5,000, and

(b) for the purposes of the Magistrates’ Courts Act 1980 (c. 43) the sum is to be treated as adjudged to be paid by a conviction of the court.

(7) In order to take account of changes in the value of money the Secretary of State may by order substitute another sum for the sum for the time being specified in subsection (6)(a).

[F3 (7A) The Secretary of State may by order amend this section so that it applies not only to money held in an account maintained with a bank or building society but also to—

(a) money held in an account maintained with a financial institution of a specified kind, or

(b) money that is represented by, or may be obtained from, a financial instrument or product of a specified kind.

(7B) An order under subsection (7A) may amend this section so that it makes provision about realising an instrument or product within subsection (7A)(b) or otherwise obtaining money from it.]

(8) For the purposes of this section—

(a) a bank is a deposit-taking business within the meaning of the Banking Act 1987 (c. 22);

(b) “building society” has the same meaning as in the Building Societies Act 1986 (c. 53).

Textual Amendments

F1 S. 67(5) substituted for s. 67(4)(5) (1.6.2015) by Serious Crime Act 2015 (c. 9), ss. 14(1), 88(1); S.I. 2015/820, reg. 3(j)

F2 S. 67(5A)(5B) inserted (1.6.2015) by Serious Crime Act 2015 (c. 9), ss. 14(2), 88(1); S.I. 2015/820, reg. 3(j)

F3 S. 67(7A)(7B) inserted (1.6.2015) by Serious Crime Act 2015 (c. 9), ss. 14(3), 88(1); S.I. 2015/820, reg. 3(j)

Modifications etc. (not altering text)

C1 Pt. 2 applied by Terrorism Act 2000 (c. 11), Sch. 8 paras. 8(5A), 34(3A) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 39(2)(5); S.S.I. 2003/210, art. 2(1)(b)(2), sch. (with art. 7); S.I. 2003/333, art. 2, Sch.)

C2 Pt. 2 applied by Police and Criminal Evidence Act 1984 (c. 60), ss. 56(5B), 58(8B) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 14(2)(3); S.I. 2003/333, art. 2, Sch.)

Commencement Information

I1 S. 67 in force at 24.3.2003 by S.I. 2003/333, art. 2, Sch.