SCHEDULES
SCHEDULE 1Forfeiture of terrorist F1property
F2PART 4BDConversion of cryptoassets
Sch. 1 Pts. 4BA-4BD inserted (26.10.2023 for specified purposes, 26.4.2024 in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b), Sch. 10 para. 2; S.I. 2024/269, reg. 4(c)
10Z7DFRelease of detained converted cryptoassets
1
2
The relevant court may, subject to sub-paragraph (7), direct the release of the whole or any part of the converted cryptoassets if the following condition is met.
3
The condition is that, on an application by the relevant person, the court is not satisfied that there are reasonable grounds for suspecting that the converted cryptoassets to be released—
a
are within subsection (1)(a) or (b) of section 1, or
b
are property earmarked as terrorist property.
4
In sub-paragraph (3) “the relevant person” means—
a
5
6
The following persons are within this sub-paragraph—
a
in relation to England and Wales or Northern Ireland, an authorised officer;
b
in relation to Scotland, a procurator fiscal.
7
Converted cryptoassets are not to be released under this paragraph (and so are to continue to be detained)—
a
if an application for their forfeiture under paragraph 10Z7DG is made, until any proceedings in pursuance of the application (including any proceedings on appeal) are concluded;
b
if (in the United Kingdom or elsewhere) proceedings are started against any person for an offence with which the converted cryptoassets are connected, until the proceedings are concluded.
Word in Sch. 1 heading substituted (27.4.2017 for specified purposes, 31.1.2018 in so far as not already in force) by Criminal Finances Act 2017 (c. 22), s. 58(5)(6), Sch. 5 para. 16(2); S.I. 2018/78, reg. 5(1)(c)