C1C2C3C5C4Part 4Confiscation: Northern Ireland

Annotations:
Modifications etc. (not altering text)
C2

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.)

Confiscation orders

I1C2C5C6C4162C2C5C4 Interest on unpaid sums

1

If F1any amount required to be paid by a person under a confiscation order is not paid when it is required to be paid, he F2must pay interest on that 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.

F33

If—

a

an application has been made under section 161(4) for a specified period to be extended,

b

the application has not been determined by the court, and

c

the period of six months starting with the day on which the confiscation order was made has not ended,

the amount on which interest is payable under this section does not include the amount to which the specified period relates.

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.