Crimes Legislation Amendment (Economic Disruption) Act 2021 (3 of 2021)

Schedule 5   Jurisdiction of courts

Part 1   Amendments

Proceeds of Crime Act 2002

3   After section 98

Insert:

98A Third exception - property located outside Australia

(1) Despite section 96, if property forfeited under section 92 is property located outside *Australia:

(a) that property vests in equity in the Commonwealth; and

(b) that property only vests in the Commonwealth at law to the extent permitted under the law in force in the place where that property is located; and

(c) the *responsible authority has power, on behalf of the Commonwealth, to do anything necessary or convenient to:

(i) give notice of, or otherwise protect, the Commonwealth's equitable interest in that property; or

(ii) arrange for the enforcement of, or give effect to, the declaration under section 95 that relates to the forfeiture of that property.

Note: The following is an example of action by the responsible authority under subparagraph (1)(c)(ii): arranging for a request under section 32 of the *Mutual Assistance Act in relation to the enforcement of the declaration under section 95 of this Act that relates to the forfeiture of that property.

(2) Any action by the *responsible authority under subparagraph (1)(c)(i) is not a dealing for the purposes of subsection 99(1).

(3) Despite section 96 and subsection (1) of this section, if:

(a) property forfeited under section 92 is property located outside *Australia; and

(b) under the law in force in the place where that property is located, that property vests in a person;

that property vests in that person under that law.

(4) Subsection (3) does not affect any equitable interest vested in the Commonwealth by paragraph (1)(a).