C1C2C3Part 4Confiscation: Northern Ireland

Annotations:
Modifications etc. (not altering text)
C2

Pt. 4 applied by S.I. 1989/1341 (N.I. 12), arts. 57(5B), 59(8B) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), Supreme Court s. 458(1), Sch. 11 para. 19(2)(3); S.I. 2003/333, art. 2, Sch.)

Interpretation

I1C2228C2 Value of property obtained from conduct

1

This section applies for the purpose of deciding the value of property obtained by a person as a result of or in connection with his criminal conduct; and the material time is the time the court makes its decision.

2

The value of the property at the material time is the greater of the following—

a

the value of the property (at the time the person obtained it) adjusted to take account of later changes in the value of money;

b

the value (at the material time) of the property found under subsection (3).

3

The property found under this subsection is as follows—

a

if the person holds the property obtained, the property found under this subsection is that property;

b

if he holds no part of the property obtained, the property found under this subsection is any property which directly or indirectly represents it in his hands;

c

if he holds part of the property obtained, the property found under this subsection is that part and any property which directly or indirectly represents the other part in his hands.

4

The references in subsection (2)(a) and (b) to the value are to the value found in accordance with section 227.