Part 8Investigations
Chapter 3Scotland
F1Unexplained wealth orders
396HHolding of property: trusts and company arrangements etc
1
This section applies for the purposes of sections 396A and 396B.
2
The cases in which a person (P) is to be taken to “hold” property include those where—
a
P has effective control over the property;
b
P is the trustee of a settlement in which the property is comprised;
c
P is a beneficiary (whether actual or potential) in relation to such a settlement.
3
A person is to be taken to have “effective control” over property if, from all the circumstances, it is reasonable to conclude that the person—
a
exercises,
b
is able to exercise, or
c
is entitled to acquire,
direct or indirect control over the property.
4
Where a person holds property by virtue of subsection (2) references to the person obtaining the property are to be read accordingly.
5
References to a person who holds or obtains property include any body corporate, whether incorporated or formed under the law of a part of the United Kingdom or in a country or territory outside the United Kingdom.
6
For further provision about how to construe references to the holding of property, see section 414.
Ss. 396A-396I and cross-heading inserted (27.4.2017 for specified purposes, 31.1.2018 in so far as not already in force) by Criminal Finances Act 2017 (c. 22), ss. 4, 58(1)(6); S.I. 2018/78, reg. 3(a)