362IAAnnual reports

1

The Secretary of State must prepare and publish a report in respect of each relevant period setting out—

a

the number of unexplained wealth orders made by the High Court in England and Wales during that period, and

b

the number of applications made to that Court by enforcement authorities for such an order during that period.

2

Each of the following is a “relevant period”—

a

the period of 12 months beginning with the day on which section 51 of the Economic Crime (Transparency and Enforcement) Act 2022 comes into force;

b

each subsequent period of 12 months.

3

A report under this section must be prepared and published within the period of 4 months beginning with the end of the relevant period to which the report relates.

4

The Secretary of State must lay a copy of each report prepared under this section before Parliament.