After section 27 of the Limitation Act 1980 (c. 58) there is inserted—

“27A Actions for recovery of property obtained through unlawful conduct etc.

(1)

None of the time limits given in the preceding provisions of this Act applies to any proceedings under Chapter 2 of Part 5 of the Proceeds of Crime Act 2002 (civil recovery of proceeds of unlawful conduct).

(2)

Proceedings under that Chapter for a recovery order in respect of any recoverable property shall not be brought after the expiration of the period of twelve years from the date on which the Director’s cause of action accrued.

(3)

Proceedings under that Chapter are brought when—

(a)

a claim form is issued, or

(b)

an application is made for an interim receiving order,

whichever is the earlier.

(4)

The Director’s cause of action accrues in respect of any recoverable property—

(a)

in the case of proceedings for a recovery order in respect of property obtained through unlawful conduct, when the property is so obtained,

(b)

in the case of proceedings for a recovery order in respect of any other recoverable property, when the property obtained through unlawful conduct which it represents is so obtained.

(5)

If—

(a)

a person would (but for the preceding provisions of this Act) have a cause of action in respect of the conversion of a chattel, and

(b)

proceedings are started under that Chapter for a recovery order in respect of the chattel,

section 3(2) of this Act does not prevent his asserting on an application under section 281 of that Act that the property belongs to him, or the court making a declaration in his favour under that section.

(6)

If the court makes such a declaration, his title to the chattel is to be treated as not having been extinguished by section 3(2) of this Act.

(7)

Expressions used in this section and Part 5 of that Act have the same meaning in this section as in that Part.”

After section 19A of the Prescription and Limitation (Scotland) Act 1973 (c. 52) there is inserted—

“19B Actions for recovery of property obtained through unlawful conduct etc.

(1)

None of the time limits given in the preceding provisions of this Act applies to any proceedings under Chapter 2 of Part 5 of the Proceeds of Crime Act 2002 (civil recovery of proceeds of unlawful conduct).

(2)

Proceedings under that Chapter for a recovery order in respect of any recoverable property shall not be commenced after the expiration of the period of twelve years from the date on which the Scottish Ministers’ right of action accrued.

(3)

Proceedings under that Chapter are commenced when—

(a)

the proceedings are served, or

(b)

an application is made for an interim administration order,

whichever is the earlier.

(4)

The Scottish Ministers’ right of action accrues in respect of any recoverable property—

(a)

in the case of proceedings for a recovery order in respect of property obtained through unlawful conduct, when the property is so obtained,

(b)

in the case of proceedings for a recovery order in respect of any other recoverable property, when the property obtained through unlawful conduct which it represents is so obtained.

(5)

Expressions used in this section and Part 5 of that Act have the same meaning in this section as in that Part.”

After Article 72 of the Limitation (Northern Ireland) Order 1989 (SI 1989/1339 (N.I. 11)) there is inserted—

“ Actions for recovery of property obtained through unlawful conduct etc.72A

(1)

None of the time limits fixed by Parts II and III applies to any proceedings under Chapter 2 of Part 5 of the Proceeds of Crime Act 2002 (civil recovery of proceeds of unlawful conduct).

(2)

Proceedings under that Chapter for a recovery order in respect of any recoverable property shall not be brought after the expiration of the period of twelve years from the date on which the Director’s cause of action accrued.

(3)

Proceedings under that Chapter are brought when—

(a)

a claim form is issued, or

(b)

an application is made for an interim receiving order,

whichever is the earlier.

(4)

The Director’s cause of action accrues in respect of any recoverable property—

(a)

in the case of proceedings for a recovery order in respect of property obtained through unlawful conduct, when the property is so obtained,

(b)

in the case of proceedings for a recovery order in respect of any other recoverable property, when the property obtained through unlawful conduct which it represents is so obtained.

(5)

If—

(a)

a person would (but for a time limit fixed by this Order) have a cause of action in respect of the conversion of a chattel, and

(b)

proceedings are started under that Chapter for a recovery order in respect of the chattel,

Article 17(2) does not prevent his asserting on an application under section 281 of that Act that the property belongs to him, or the court making a declaration in his favour under that section.

(6)

If the court makes such a declaration, his title to the chattel is to be treated as not having been extinguished by Article 17(2).

(7)

Expressions used in this Article and Part 5 of that Act have the same meaning in this Article as in that Part.”