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) by Criminal Finances Act 2017 (c. 22), ss. 16, 58(1)(6); S.I. 2018/78, regs. 2(b), 3(d)

F2 Words in Pt. 5 Ch. 3B heading substituted (retrospectively except as it extends to N.I.) by Financial Services Act 2021 (c. 22), s. 33(2)(3), Sch. 12 para. 12 (with s. 33(4))

Modifications etc. (not altering text)

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

Freezing of [F3 certain] accounts U.K.

Textual Amendments

F3 Words in s. 303Z1 cross-heading substituted (retrospectively except as it extends to N.I.) by Financial Services Act 2021 (c. 22), s. 33(2)(3), Sch. 12 para. 13 (with s. 33(4))

303Z6 Restriction on proceedings and remedies U.K.

(1) If a court in which proceedings are pending in respect of an account maintained with a bank or building society is satisfied that an account freezing order has been applied for or made in respect of the account, it may either stay the proceedings or allow them to continue on any terms it thinks fit.

(2) Before exercising the power conferred by subsection (1), the court must (as well as giving the parties to any of the proceedings concerned an opportunity to be heard) give such an opportunity to any person who may be affected by the court's decision.

(3) In relation to Scotland, the reference in subsection (1) to staying the proceedings is to be read as a reference to sisting the proceedings.]