C8C7C6C3C5C1C2C4Part 4Confiscation: Northern Ireland

Annotations:
Modifications etc. (not altering text)
C7

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.)

F19Enforcement: money, cryptoassets and personal property

Annotations:
Amendments (Textual)
F19

S. 215 cross-heading substituted (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(2)(b)(5)(a), Sch. 8 para. 52; S.R. 2024/82, art. 2

I1C7215C7F18Money

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 F20relevant financial institution.

2

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

F9a

has been seized under a relevant seizure power by a constable or another person lawfully exercising the power, and

b

is being detained in connection with a criminal investigation or prosecution or with an investigation of a kind mentioned in section 341.

F72A

But this section applies to money only so far as the money is free property.

F23

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F115

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 198 in relation to the money,

a magistrates' court may order the F6appropriate person to pay the money to the appropriate chief clerk on account of the amount payable under the confiscation order.

F55A

F3Where this section applies to money which is held in an account maintained with F13a relevant financial institution, a person applying for an order under subsection (5) must give notice of the application to F14the relevant financial institution 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 160A, and

b

must have regard to that determination in deciding what is the appropriate order to make.

6

If a F21relevant financial institution 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 (Northern Ireland) Order 1981 (S.I. 1981/1675 (N.I. 26)) the sum is to be treated as adjudged to be paid by a conviction of the magistrates’ court.

7

In order to take account of changes in the value of money the F4Department of Justice in Northern Ireland may by order substitute another sum for the sum for the time being specified in subsection (6)(a).

F87A

The Department of Justice in Northern Ireland may by order amend this section so that it applies F10by virtue of subsection (1) not only to money held in an account maintained with a F15relevant financial institution 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.

F18

In this section—

  • “appropriate chief clerk” has the same meaning as in section 202(7);

  • “appropriate person” means—

    1. a

      in a case where the money is held in an account maintained with F16a relevant financial institution, the relevant financial institution;

    2. b

      in any other case, the person on whose authority the money is detained;

  • “bank” means an authorised deposit-taker, other than a building society, that has its head office or a branch in the United Kingdom;

  • “building society” has the same meaning as in the Building Societies Act 1986;

  • F17“electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations);

  • F17“payment institution” means an authorised payment institution or a small payment institution (each as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752));

  • F17“relevant financial institution” means a bank, a building society, an electronic money institution or a payment institution;

  • “relevant seizure power” means a power to seize money conferred by or by virtue of—

    1. a

      a warrant granted under any enactment or rule of law, or

    2. b

      any enactment, or rule of law, under which the authority of a warrant is not required.

F129

In the definition of “bank” in subsection (8), “authorised deposit-taker” means—

a

a person who has permission under Part 4A of the Financial Services and Markets Act 2000 to accept deposits;

b

a person who—

i

is specified, or is within a class of persons specified, by an order under section 38 of that Act (exemption orders), and

ii

accepts deposits;

c

an EEA firm of the kind mentioned in paragraph 5(b) of Schedule 3 to that Act that has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to accept deposits.

10

A reference in subsection (9) to a person or firm with permission to accept deposits does not include a person or firm with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.