C1C2C3Part 4Confiscation: Northern Ireland
Pt. 4 applied by S.I. 1989/1341 (N.I. 12), arts. 57(5B), 59(8B) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), Supreme Court s. 458(1), Sch. 11 para. 19(2)(3); S.I. 2003/333, art. 2, Sch.)
Pt. 4: power to amend conferred (1.7.2005) by Serious Organised Crime and Police Act 2005 (c. 15), ss. 97(3), 178(8); S.I. 2005/1521, art. 3(1)(a)
Confiscation orders
I1C2162C2 Interest on unpaid sums
1
If the amount required to be paid by a person under a confiscation order is not paid when it is required to be paid, he must pay interest on the amount for the period for which it remains unpaid.
2
The rate of interest is the same rate as that for the time being applying to a money judgment of the High Court.
3
For the purposes of this section no amount is required to be paid under a confiscation order if—
a
an application has been made under section 161(4),
b
the application has not been determined by the court, and
c
the period of 12 months starting with the day on which the confiscation order was made has not ended.
4
In applying this Part the amount of the interest must be treated as part of the amount to be paid under the confiscation order.
Pt. 4 functions of receiver extended (24.2.2003) by Proceeds of Crime Act 2002 (Enforcement in different parts of the United Kingdom) Order 2002 (S.I. 2002/3133), arts. 1, 4(1)(a)