Part 5Civil recovery of the proceeds etc. of unlawful conduct

F1CHAPTER 3EForfeiture of cryptoassets following detention or freezing order

Forfeiture orders

303Z43Associated and joint property

(1)

Sections 303Z44 and 303Z45 apply if—

(a)

an application is made under section 303Z41 in respect of cryptoassets,

(b)

the court or sheriff is satisfied that some or all of the cryptoassets are recoverable property or are intended by any person for use in unlawful conduct, and

(c)

there exists property that is associated with the cryptoassets in relation to which the court or sheriff is satisfied as mentioned in paragraph (b).

(2)

Sections 303Z44 and 303Z45 also apply in England and Wales and Northern Ireland if—

(a)

an application is made under section 303Z41 in respect of cryptoassets,

(b)

the court is satisfied that some or all of the cryptoassets are recoverable property, and

(c)

the cryptoassets in relation to which the court is satisfied as mentioned in paragraph (b) belong to joint tenants and one of the tenants is an excepted joint owner.

(3)

In this section and sections 303Z44 and 303Z45 “associated property” means property of any of the following descriptions that is not itself the forfeitable property—

(a)

any interest in the forfeitable property;

(b)

any other interest in the property in which the forfeitable property subsists;

(c)

if the forfeitable property is part of a larger property, but not a separate part, the remainder of that property.

References to property being associated with forfeitable property are to be read accordingly.

(4)

In this section and sections 303Z44 and 303Z45, the “forfeitable property” means the cryptoassets in relation to which the court or sheriff is satisfied as mentioned in subsection (1)(b) or (2)(b) (as the case may be).