http://www.legislation.gov.uk/ukpga/2002/29/section/303Z34Proceeds of Crime Act 2002An Act to establish the Assets Recovery Agency and make provision about the appointment of its Director and his functions (including Revenue functions), to provide for confiscation orders in relation to persons who benefit from criminal conduct and for restraint orders to prohibit dealing with property, to allow the recovery of property which is or represents property obtained through unlawful conduct or which is intended to be used in unlawful conduct, to make provision about money laundering, to make provision about investigations relating to benefit from criminal conduct or to property which is or represents property obtained through unlawful conduct or to money laundering, to make provision to give effect to overseas requests and orders made where property is found or believed to be obtained through criminal conduct, and for connected purposes.2002-08-12texttext/xmlenStatute Law Database2026-09-17Expert Participation2026-06-30 Part 5Civil recovery of the proceeds <Abbreviation Expansion="et cetera" xml:lang="la">etc.</Abbreviation> of unlawful conductCHAPTER 3C<Addition ChangeId="key-2ac246cf35a1958544c914078c26a0f4-1702398933357" CommentaryRef="key-2ac246cf35a1958544c914078c26a0f4">Recovery of cryptoassets: searches, seizure and detention</Addition><Addition ChangeId="key-2ac246cf35a1958544c914078c26a0f4-1702398933357" CommentaryRef="key-2ac246cf35a1958544c914078c26a0f4">Seizure and detention of cryptoasset-related items</Addition><Addition ChangeId="key-2ac246cf35a1958544c914078c26a0f4-1702398933357" CommentaryRef="key-2ac246cf35a1958544c914078c26a0f4">Release of cryptoassets and cryptoasset-related items</Addition>303Z341This section applies while any cryptoasset or other item of property is detained under this Chapter.2A magistrates’ court or (in Scotland) the sheriff may direct the release of the whole or any part of the property if the following condition is met.3The condition is that the court or sheriff is satisfied, on an application by the person from whom the property was seized, that the conditions for the detention of the property in this Chapter are no longer met in relation to the property to be released.4A person within subsection (5) may, after notifying the magistrates’ court, sheriff or justice under whose order property is being detained, release the whole or any part of the property if satisfied that the detention of the property to be released is no longer justified.5The following persons are within this subsection—ain relation to England and Wales and Northern Ireland, an enforcement officer;bin relation to Scotland—ithe Scottish Ministers,iian officer of Revenue and Customs,iiia constable, andiva procurator fiscal.6If any cryptoasset-related item which has been released is not claimed within the period of a year beginning with the date on which it was released, an enforcement officer may—aretain the item and deal with it as they see fit,bdispose of the item, orcdestroy the item.7The powers in subsection (6) may be exercised only—awhere the enforcement officer has taken reasonable steps to notify—ithe person from whom the item was seized, andiiany other persons who the enforcement officer has reasonable grounds to believe have an interest in the item,that the item has been released, andbwith the approval of a senior officer.8Any proceeds of a disposal of the item are to be paid—ainto the Consolidated Fund if—ithe item was directed to be released by a magistrates’ court, oriia magistrates’ court or justice was notified under subsection (4) of the release;binto the Scottish Consolidated Fund if—ithe item was directed to be released by the sheriff, oriithe sheriff was notified under subsection (4) of the release.Pt. 5 Chs. 3C-3F inserted (26.10.2023 for specified purposes, 26.4.2024 for S. for specified purposes, 26.4.2024 for E.W.N.I. in so far as not already in force, 7.11.2024 for S. in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b)(c), Sch. 9 para. 1; S.I. 2024/269, reg. 4(b)(i)(ii); S.I. 2024/1108, reg. 2Pt. 5 Ch. 3C applied (with modifications) (26.4.2025) by S.I. 2005/3181, art. 213Z19 (as inserted by The Proceeds of Crime Act 2002 (External Investigations and External Orders and Requests) (Amendment) Order 2024 (S.I. 2024/1127), arts. 1(2), 14)