Proceeds of Crime Act 2002 (c. 29)

Part 8 U.K. Investigations

Chapter 2 E+W+N.I. England and Wales and Northern Ireland

Modifications etc. (not altering text)

C1 Pt. 8 Ch. 2: power to modify conferred (20.3.2015) by Crime and Courts Act 2013 (c. 22), ss. 47, 61(2); S.I. 2015/813, art. 2(b)

[F1 Unexplained wealth orders E+W+N.I.

Textual Amendments

F1 Ss. 362A-362I and cross-heading inserted (27.4.2017 for specified purposes, 31.1.2018 for E.W. in so far as not already in force) by Criminal Finances Act 2017 (c. 22), ss. 1, 58(1)(6); S.I. 2018/78, reg. 3(a); (as amended (N.I.) on exit day by S.I. 2019/742, regs. 1, 109(2))

362H Holding of property: trusts and company arrangements etc E+W+N.I.

(1) This section applies for the purposes of sections 362A and 362B.

(2) The cases in which a person (P) is to be taken to “hold” property include those where—

(a) P has effective control over the property;

(b) P is the trustee of a settlement in which the property is comprised;

(c) P is a beneficiary (whether actual or potential) in relation to such a settlement.

(3) A person is to be taken to have “effective control” over property if, from all the circumstances, it is reasonable to conclude that the person—

(a) exercises,

(b) is able to exercise, or

(c) is entitled to acquire,

direct or indirect control over the property.

(4) Where a person holds property by virtue of subsection (2) references to the person obtaining the property are to be read accordingly.

(5) References to a person who holds or obtains property include any body corporate, whether incorporated or formed under the law of a part of the United Kingdom or in a country or territory outside the United Kingdom.

(6) For further provision about how to construe references to the holding of property, see section 414.]