Detention and release of propertyU.K.
This section has no associated Explanatory Notes
43(1)Section 195M (further detention in other cases) is amended as follows.
(2)In subsection (2)(b), omit “(within the meaning of section 195C(4))”.
(3)After subsection (2) insert—
“(2A)A magistrates’ court may by order extend the period for which the property may be detained under section 195J if satisfied that—
(a)any of the conditions in section 195B is met (reading references in that section to the officer as references to the court),
(b)the property is free property, and
(c)there are reasonable grounds for suspecting that the property is a cryptoasset-related item.
(2B)An order under subsection (2A) may not be made in respect of exempt property unless the court is satisfied that the person applying for the order is working diligently and expeditiously—
(a)to determine whether the property is a cryptoasset-related item, or
(b)if it has already been determined to be such an item, to seize any related cryptoassets under section 195C(1).
(2C)An order under subsection (2A) may not extend the period for which the property may be detained beyond the period of—
(a)six months beginning with the date of the order, or
(b)in the case of exempt property, 14 days beginning with that date.
This does not prevent the period from being further extended by another order under this section.
(2D)The period of 14 days referred to in subsection (2C)(b) is to be calculated in accordance with section 195H(7) (reading the reference there to 48 hours as a reference to 14 days).”
(4)In subsection (6), after “section” insert “—