Part 5

Civil recovery of the proceeds etc. of unlawful conduct
CHAPTER 3B

Forfeiture of money held in certain accounts

Forfeiture orders

Forfeiture order
303Z14
1
This section applies while an account freezing order has effect.
In this section the account to which the account freezing order applies is “the frozen account”.
2
An application for the forfeiture of money held in the frozen account (whether all or part of the credit balance of the account) may be made—
a
to a magistrates' court by a person specified in subsection (3), or
b
to the sheriff by the Scottish Ministers.
3
The persons referred to in subsection (2)(a) are—
a
the Commissioners for Her Majesty's 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
or the Welsh Ministers
under section 453.
4
The court or sheriff may order the forfeiture of the money or any part of it if satisfied that the money or part—
a
is recoverable property, or
b
is intended by any person for use in unlawful conduct.
5
But in the case of recoverable property which belongs to joint tenants, one of whom is an excepted joint owner, an order by a magistrates' court may not apply to so much of it as the court thinks is attributable to the excepted joint owner's share.
6
Where an application is made under subsection (2), the account freezing order is to continue to have effect until the time referred to in subsection (7)(b) or (8).
But subsections (7)(b) and (8) are subject to section 303Z15.
7
Where money held in a frozen account is ordered to be forfeited under subsection (4)—
a
the
relevant financial institution
with which the frozen account is maintained must transfer that amount of money into an interest-bearing account nominated by an enforcement officer, and
b
immediately after the transfer has been made the account freezing order made in relation to the frozen account ceases to have effect.
8
Where, other than by the making of an order under subsection (4), an application under subsection (2) is determined or otherwise disposed of, the account freezing order ceases to have effect immediately after that determination or other disposal.
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
Words in s. 303Z14(7)(a) 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. 20 (with s. 33(4)); S.I. 2021/739, reg. 2
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))
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)
S. 303Z14(3)(d) 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))
Words in s. 303Z14(3)(d) 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(g)