Economic Crime (Transparency and Enforcement) Act 2022

51 Annual reports on use of unexplained wealth orders: England and Wales E+W

After section 362I of the Proceeds of Crime Act 2002 insert—

“362IA Annual 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.”

Commencement Information

I1 S. 51 not in force at Royal Assent, see s. 69

I2 S. 51 in force at 15.5.2022 by S.I. 2022/519, regs. 1(3), 2