C2C4C3C1C5Part 2Confiscation: England and Wales
Pt. 2 applied by 2000 c. 11, Sch. 8 para. 34(3A) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 39(5); S.I. 2003/333, art. 2, Sch.)
Pt. 2 applied by Terrorism Act 2000 (c. 11), Sch. 8 paras. 8(5A), 34(3A) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 39(2)(5); S.S.I. 2003/210, art. 2(1)(b)(2), sch. (with art. 7); S.I. 2003/333, art. 2, Sch.)
Pt. 2 applied by Police and Criminal Evidence Act 1984 (c. 60), ss. 56(5B), 58(8B) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 14(2)(3); S.I. 2003/333, art. 2, Sch.)
Pt. 2: power to amend conferred (1.7.2005) by Serious Organised Crime and Police Act 2005 (c. 15), ss. 97(3), 178(8); S.I. 2005/1521, art. 3(1)(a)
Interpretation
I1C2C4C3C180C2C4C3C1 Value of property obtained from conduct
1
This section applies for the purpose of deciding the value of property obtained by a person as a result of or in connection with his criminal conduct; and the material time is the time the court makes its decision.
2
The value of the property at the material time is the greater of the following—
a
the value of the property (at the time the person obtained it) adjusted to take account of later changes in the value of money;
b
the value (at the material time) of the property found under subsection (3).
3
The property found under this subsection is as follows—
a
if the person holds the property obtained, the property found under this subsection is that property;
b
if he holds no part of the property obtained, the property found under this subsection is any property which directly or indirectly represents it in his hands;
c
if he holds part of the property obtained, the property found under this subsection is that part and any property which directly or indirectly represents the other part in his hands.
4
The references in subsection (2)(a) and (b) to the value are to the value found in accordance with section 79.
Pt. 2 applied by 1984 c. 60, s. 58(8B) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 14(3); S.I. 2003/333, art. 2, Sch.)