Part 2E+WConfiscation: England and Wales

Modifications etc. (not altering text)

C6Pt. 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)

C8Pt. 2 applied (12.2.2019 for specified purposes, 13.8.2020 in so far as not already in force) by Counter-Terrorism and Border Security Act 2019 (c. 3), s. 27(1)(g), Sch. 3 para. 33(5) (with s. 25(9)); S.I. 2020/792, reg. 2(g)

InterpretationE+W

81 Value of tainted giftsE+W

(1)The value at any time (the material time) of a tainted gift is the greater of the following—

(a)the value (at the time of the gift) of the property given, 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 (2).

(2)The property found under this subsection is as follows—

(a)if the recipient holds the property given, the property found under this subsection is that property;

(b)if the recipient holds no part of the property given, the property found under this subsection is any property which directly or indirectly represents it in his hands;

(c)if the recipient holds part of the property given, the property found under this subsection is that part and any property which directly or indirectly represents the other part in his hands.

(3)The references in subsection (1)(a) and (b) to the value are to the value found in accordance with section 79.

Commencement Information

I1S. 81 in force at 24.3.2003 by S.I. 2003/333, art. 2, Sch.