PART 1Proceeds of crime

CHAPTER 5Miscellaneous

Seized money: England and Wales and Northern Ireland

I326I1Seized 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—

    1. a

      in a case where the money is held in an account maintained with a bank or building society, the bank or building society;

    2. 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—

    1. a

      a warrant granted under any enactment or rule of law, or

    2. 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.

Annotations:
Commencement Information
I3

S. 26 in force at 31.1.2018 in so far as not already in force by S.I. 2018/78, reg. 3(k)

I1

S. 26 in force at Royal Assent for specified purposes, see s. 58

27I2Seized money: Northern Ireland

1

Section 215 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) (as it has effect before and after its amendment by section 36 of the Serious Crime Act 2015), 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 chief clerk” has the same meaning as in section 202(7);

  • “appropriate person” means—

    1. a

      in a case where the money is held in an account maintained with a bank or building society, the bank or building society;

    2. 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—

    1. a

      a warrant granted under any enactment or rule of law, or

    2. 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;

F1c

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

10

A reference in subsection (9) to a person F2... with permission to accept deposits does not include a person F2... with permission to do so only for the purposes of, or in the course of, an activity other than accepting deposits.