Proceeds of Crime Act 2002

CHAPTER 4 - ADMINISTRATION  

PART 4-1 - POWERS AND DUTIES OF THE OFFICIAL TRUSTEE  

Division 4 - Discharging pecuniary penalty orders and literary proceeds orders  

SECTION 284   Official Trustee to carry out directions  

284(1)  


If the * Official Trustee is given a direction under section 282 or 282A in relation to property, the Official Trustee must, as soon as practicable after the end of the appeal period under section 285 :


(a) to the extent that the property is not money - sell or otherwise dispose of the property; and


(b) apply:


(i) to the extent that the property is money - that money; and

(ii) the amounts received from the sale or disposition of the other property;
in payment of the costs, charges, expenses and remuneration, of the kind referred to in subsection 288(1) , incurred or payable in connection with the * restraining order and payable to the Official Trustee under the regulations; and


(c) credit the remainder of the money and amounts received to the * Confiscated Assets Account as required by section 296 .

284(2)  


However, if the remainder referred to in paragraph (1)(c) exceeds the * penalty amount, * literary proceeds amount or *unexplained wealth amount (as the case requires), the * Official Trustee must:


(a) credit to the * Confiscated Assets Account as required by section 296 an amount equal to the penalty amount, literary proceeds amount or unexplained wealth amount; and


(b) pay the balance to the person whose property was subject to the * restraining order.




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