Proceeds of Crime Act 2002 (c. 29)

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

[F1 CHAPTER 3B U.K. Forfeiture of money held in [F2 certain] accounts

Textual Amendments

F1 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)

F2 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

Modifications etc. (not altering text)

C1 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))

Freezing of [F3 certain] accounts U.K.

Textual Amendments

F3 Word in s. 303Z1 cross-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. 13 (with s. 33(4)); S.I. 2021/739, reg. 2

303Z6 Restriction on proceedings and remedies U.K.

(1) If a court in which proceedings are pending in respect of an account maintained with a [F4 relevant financial institution] is satisfied that an account freezing order has been applied for or made in respect of the account, it may either stay the proceedings or allow them to continue on any terms it thinks fit.

(2) Before exercising the power conferred by subsection (1), the court must (as well as giving the parties to any of the proceedings concerned an opportunity to be heard) give such an opportunity to any person who may be affected by the court's decision.

(3) In relation to Scotland, the reference in subsection (1) to staying the proceedings is to be read as a reference to sisting the proceedings.]

Textual Amendments

F4 Words in s. 303Z6(1) 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. 16 (with s. 33(4)); S.I. 2021/739, reg. 2