Proceeds of Crime Act 2002 (c. 29)

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

[F1 CHAPTER 3C U.K. Recovery of cryptoassets: searches, seizure and detention

Textual Amendments

F1 Pt. 5 Chs. 3C-3F inserted (26.10.2023 for specified purposes) by Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b)(c), Sch. 9 para. 1

Seizure and detention of cryptoasset-related items U.K.

303Z31 Initial detention of seized cryptoassets U.K.

(1) Cryptoassets seized under section 303Z29 may be detained for an initial period of 48 hours.

(2) Subsection (1) authorises the detention of property only for so long as an enforcement officer continues to have reasonable grounds for suspicion in relation to those cryptoassets as described in section 303Z29(1).

(3) In calculating a period of 48 hours for the purposes of this section, no account is to be taken of—

(a) any Saturday or Sunday,

(b) Christmas Day,

(c) Good Friday,

(d) any day that is a bank holiday under the Banking and Financial Dealings Act 1971 in the part of the United Kingdom within which the property is seized, or

(e) any day prescribed by virtue of section 8(2) of the Criminal Procedure (Scotland) Act 1995 as a court holiday in a sheriff court in the sheriff court district within which the property is seized.

(4) This section is subject to section 303Z30.]