Proceeds of Crime Act 2002

[F1 303Z41 Forfeiture order U.K.

(1) This section applies—

(a) while any cryptoassets are detained under Chapter 3C, or

(b) while a crypto wallet freezing order made under section 303Z37 has effect.

(2) An application for the forfeiture of some or all of the cryptoassets that are detained or held in the crypto wallet that is subject to the crypto wallet freezing order may be made—

(a) to a magistrates’ court by a person within subsection (3), or

(b) to the sheriff by the Scottish Ministers.

(3) The following persons are within this subsection—

(a) the Commissioners for His Majesty’s Revenue and Customs,

(b) a constable,

(c) an SFO officer, and

(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 some or all of the cryptoassets if satisfied that the cryptoassets—

(a) are recoverable property, or

(b) are intended by any person for use in unlawful conduct.

(5) An order under subsection (4) made by a magistrates’ court may provide for payment under section 303Z49 of reasonable legal expenses that a person has reasonably incurred, or may reasonably incur, in respect of—

(a) the proceedings in which the order is made, or

(b) any related proceedings under this Chapter.

(6) A sum in respect of a relevant item of expenditure is not payable under section 303Z49 in pursuance of provision under subsection (5) unless—

(a) the person who applied for the order under subsection (4) agrees to its payment, or

(b) the court has assessed the amount allowed in respect of that item and the sum is paid in respect of the assessed amount.

(7) For the purposes of subsection (6)—

(a) a “relevant item of expenditure” is an item of expenditure to which regulations under section 286B would apply if the order under subsection (4) had instead been a recovery order;

(b) an amount is “allowed” in respect of a relevant item of expenditure if it would have been allowed by those regulations;

(c) if the person who applied for the order under subsection (4) was a constable, an SFO officer or an accredited financial investigator, that person may not agree to the payment of a sum unless the person is a senior officer or is authorised to do so by a senior officer.

(8) Subsection (4) ceases to apply on the transfer of an application made under this section in accordance with section 303Z45(1).

(9) In this Chapter—

• “crypto wallet freezing order” has the same meaning as in Chapter 3D (see section 303Z36);

• “enforcement officer” has the meaning given by section 303Z20;

• “senior officer” has the meaning given by section 303Z20.

(10) Section 303Z36(4)(b) applies in relation to this Chapter as it applies in relation to Chapter 3D.]

Textual Amendments

F1 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. 2