Proceeds of Crime Act 2002

CHAPTER 4 - ADMINISTRATION  

PART 4-3 - CONFISCATED ASSETS ACCOUNT  

Division 2 - The national cooperative scheme on unexplained wealth  

SECTION 297B   Sharing with foreign countries  

297B(1)    
This section sets out the process under the *national cooperative scheme on unexplained wealth for sharing with a foreign country *proceeds of confiscated assets that are shareable (within the meaning of the *NCSUW agreement).

297B(2)    
If the Minister decides that:

(a) a foreign country has made a contribution in relation to the recovery of the proceeds; and

(b) it is appropriate that a specified amount of the proceeds be payable to the country;

then the specified amount is payable to the country under the *national cooperative scheme on unexplained wealth.

297B(3)    
However, the specified amount must not exceed the amount of the proceeds, reduced by any amounts for the making of payments referred to in paragraphs 297(fa) , (ga) and (h) in relation to the proceeds.