Proceeds of Crime Act 2002 (c. 29)

Part 5 U.K. Civil recovery of the proceeds etc. of unlawful conduct

[F1 CHAPTER 3B U.K. Forfeiture of money held in [F2 certain] accounts

Textual Amendments

F1 Pt. 5 Ch. 3B inserted (27.4.2017 for specified purposes, 30.1.2018 for the insertion of ss. 303Z2(4), 303Z10 for E.W.S. so far as not already in force, 31.1.2018 for E.W.S. in so far as not already in force, 28.6.2021 for N.I. in so far as not already in force) by Criminal Finances Act 2017 (c. 22), ss. 16, 58(1)(6) (as amended (N.I.) on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)) by S.I. 2019/742, regs. 1, 109(3)); S.I. 2018/78, regs. 2(b), 3(d); S.I. 2021/724, reg. 2(1)(g)

F2 Word in Pt. 5 Ch. 3B heading substituted (27.4.2017 retrospective for E.W.S, 28.6.2021 for N.I.) by Financial Services Act 2021 (c. 22), s. 33(2)(3), Sch. 12 para. 12 (with s. 33(4)); S.I. 2021/739, reg. 2

Modifications etc. (not altering text)

C1 Pt. 5 Ch. 3B applied (31.1.2018 for E.W.S. in so far as not already in force, 27.4.2017 for specified purposes, 28.6.2021 for N.I. in so far as not already in force) by 2007 c. 30, s. 24(1) (as substituted by Criminal Finances Act 2017 (c. 22), ss. 21(3), 58(1)(6); S.I. 2018/78, reg. 3(f); S.I. 2021/724, reg. 2(1)(i))

Freezing of [F3 certain] accounts U.K.

Textual Amendments

F3 Word in s. 303Z1 cross-heading substituted (27.4.2017 retrospective for E.W.S, 28.6.2021 for N.I.) by Financial Services Act 2021 (c. 22), s. 33(2)(3), Sch. 12 para. 13 (with s. 33(4)); S.I. 2021/739, reg. 2

303Z1 Application for account freezing order U.K.

(1) This section applies if an enforcement officer has reasonable grounds for suspecting that money held in an account maintained with a [F4 relevant financial institution]—

(a) is recoverable property, or

(b) is intended by any person for use in unlawful conduct.

(2) Where this section applies (but subject to section 303Z2) the enforcement officer may apply to the relevant court for an account freezing order in relation to the account in which the money is held.

(3) For the purposes of this Chapter—

(a) an account freezing order is an order that, subject to any exclusions (see section 303Z5), prohibits each person by or for whom the account to which the order applies is operated from making withdrawals or payments from the account;

(b) an account is operated by or for a person if the person is an account holder or a signatory or identified as a beneficiary in relation to the account.

(4) An application for an account freezing order may be made without notice if the circumstances of the case are such that notice of the application would prejudice the taking of any steps under this Chapter to forfeit money that is recoverable property or intended by any person for use in unlawful conduct.

(5) The money referred to in subsection (1) may be all or part of the credit balance of the account.

F5 (5A) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F6 (5B) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6) In this Chapter—

• “bank” has the meaning given by section 303Z7;

• “building society” has the same meaning as in the Building Societies Act 1986;

• [F7 “electronic money institution” has the same meaning as in the Electronic Money Regulations 2011 (S.I. 2011/99) (see regulation 2 of those Regulations);]

• “enforcement officer” means—

  (a)

  an officer of Revenue and Customs,

  (b)

  a constable,

  (c)

  an SFO officer, or

  (d)

  an accredited financial investigator who falls within a description specified in an order made for the purposes of this Chapter by the Secretary of State [F8 or the Welsh Ministers] under section 453;

• “the minimum amount” has the meaning given by section 303Z8;

• [F7 “payment institution” means an authorised payment institution or a small payment institution (each as defined in regulation 2 of the Payment Services Regulations 2017 (S.I. 2017/752));]

• “relevant court”—

  (a)

  in England and Wales and Northern Ireland, means a magistrates' court, and

  (b)

  in Scotland, means the sheriff.

• [F9 “relevant financial institution” means—

  (a)

  a bank,

  (b)

  a building society,

  (c)

  an electronic money institution, or

  (d)

  a payment institution.]]

Textual Amendments

F4 Words in s. 303Z1(1) substituted (27.4.2017 (retrospectively except as it extends to N.I.), 28.6.2021 for N.I.) by Financial Services Act 2021 (c. 22), s. 33(2)(3), Sch. 12 para. 14(2) (with s. 33(4)); S.I. 2021/739, reg. 2

F5 S. 303Z1(5A) omitted (28.6.2022) by virtue of Police, Crime, Sentencing and Courts Act 2022 (c. 32), ss. 59(1)(a), 208(5)(h)

F6 S. 303Z1(5B) omitted (28.6.2022) by virtue of Police, Crime, Sentencing and Courts Act 2022 (c. 32), ss. 59(1)(a), 208(5)(h)

F7 Words in s. 303Z1(6) inserted (retrospectively) by Financial Services Act 2021 (c. 22), s. 33(2)(3), Sch. 12 para. 14(5) (with s. 33(4))

F8 Words in s. 303Z1(6) inserted (E.W.) (20.7.2018) by The Tax Collection and Management (Wales) Act 2016 (Supplemental Provision) Regulations 2018 (S.I. 2018/768), regs. 1(2), 2(e)

F9 Words in s. 303Z1(6) inserted (28.6.2022) by Police, Crime, Sentencing and Courts Act 2022 (c. 32), ss. 59(1)(b), 208(5)(h)

Modifications etc. (not altering text)

C2 S. 303Z1(6) modified by S.I. 2018/196, Sch. para. 3B (as inserted (E.W.) (20.7.2018) by The Proceeds of Crime Act 2002 (References to Welsh Revenue Authority Financial Investigators) (Amendment) Order 2018 (S.I. 2018/767), arts. 1(2), 2(2)(b))