PART 1Proceeds of crime
CHAPTER 5Miscellaneous
Seized money: England and Wales and Northern Ireland
I226I1Seized money: England and Wales
1
Section 67 of the Proceeds of Crime Act 2002 (seized money) is amended as follows.
2
In subsection (2), for paragraphs (a) and (b) substitute—
a
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.
3
After subsection (2) insert—
2A
But this section applies to money only so far as the money is free property.
4
Omit subsection (3).
5
In subsection (5), for “bank or building society” substitute “
appropriate person
”
.
6
In subsection (5A), at the beginning insert “
Where this section applies to money which is held in an account maintained with a bank or building society,
”
.
7
In subsection (7A), after “applies” insert “
by virtue of subsection (1)
”
.
8
For subsection (8) substitute—
8
In this section—
“appropriate person” means—
- a
in a case where the money is held in an account maintained with a bank or building society, the bank or building society;
- 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;
“relevant seizure power” means a power to seize money conferred by or by virtue of—
- a
a warrant granted under any enactment or rule of law, or
- b
any enactment, or rule of law, under which the authority of a warrant is not required.
9
After subsection (8) insert—
9
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.