(1)In section 67 of the Proceeds of Crime Act 2002 (seized money), for subsections (4) and (5) substitute—
“(5)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 50 in relation to the money,
a magistrates’ court may order the bank or building society to pay the money to the designated officer for the court on account of the amount payable under the confiscation order.”
(2)After subsection (5) of that section insert—
“(5A)A person applying for an order under subsection (5) must give notice of the application to the bank or building society 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 10A, and
(b)must have regard to that determination in deciding what is the appropriate order to make.”
(3)After subsection (7) of that section insert—
“(7A)The Secretary of State may by order amend this section so that it applies not only to money held in an account maintained with a bank or building society 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.”
(4)In section 67A of that Act (seized personal property), for subsections (2) and (3) substitute—
“(3)If—
(a)a confiscation order is made against the person by whom the property is held, and
(b)a receiver has not been appointed under section 50 in relation to the property,
a magistrates’ court may by order authorise an appropriate officer to realise the property.”
(5)In section 459(6)(a) of that Act (orders subject to affirmative resolution procedure), before “75(7) or (8)” insert “67(7A),”.