Proceeds of Crime Act 2002
CHAPTER 4
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ADMINISTRATION
PART 4-4
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CHARGES OVER RESTRAINED PROPERTY FOR PAYMENT OF CERTAIN AMOUNTS
Division 2
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Charges to secure certain amounts payable to the Commonwealth
SECTION 302B
302B
When the charge ceases to have effect
A charge created under section 302A ceases to have effect on a * person's property on the earliest of the following events:
(a) the amount owing under subsection 293(3) is paid to the Commonwealth;
(b) there is forfeited to the Commonwealth under this Act:
(c) the person sells or disposes of the property with the consent of the * Official Trustee.
CCH Note: Part 4-4 heading will be substituted by No 4 of 2010, s 3 and Sch 1 item 214, effective 19 May 2010. The heading will read:
PART 4-4 - CHARGES OVER RESTRAINED PROPERTY TO SECURE CERTAIN AMOUNTS PAYABLE TO THE COMMONWEALTH
CCH Note: Div 2 heading will be repealed by No 4 of 2010, s 3 and Sch 1 item 216, effective 19 May 2010.
A charge created under section 302A ceases to have effect on a * person's property on the earliest of the following events:
(a) the amount owing under subsection 293(3) is paid to the Commonwealth;
(b) there is forfeited to the Commonwealth under this Act:
(i) all of the property that is covered by the charge; or
(ii) some of the property that is so covered, being property of a value that equals or exceeds the amount owing under subsection 293(3) ;
(c) the person sells or disposes of the property with the consent of the * Official Trustee.
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