The Proceeds of Crime Act 2002 (‘the Act’) established the Assets Recovery Agency and provides for the exercise of powers of seizure of assets in relation to Money Laundering, Restraint and Confiscation Proceedings.
Sections 47A and 47B of the Act explain the identity of those authorised to exercise such powers and the circumstances necessary to enable implementation.
Officers authorised by the Act must strictly observe the mandatory duties imposed upon them in the exercise of their powers.
John Veale of Kangs Solicitors outlines the contents of Sections 47A and 47B.
Our team is led by Hamraj Kang who is recognised as a leading expert in the field. He is one of only two solicitors nationally to be ranked as a ‘star individual’ for five consecutive years in the legal directory Chambers & Partners.
Other members of the team are ranked in the Legal 500 and also ranked in Chambers & Partners.
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Exercise of the Powers | Kangs Proceeds of Crime Act Solicitors
Section 47A of the Act provides that ‘an appropriate officer’ for exercising the powers of seizure includes:
- an officer of Revenue and Customs,
- an immigration officer,
- a constable,
- an SFO Officer or
- an accredited financial investigator specified by the Secretary of State.
Conditions for exercise of the powers
Section 47B of the Act provides that an ‘appropriate officer’ may exercise the powers conferred if satisfied that any of the following conditions is met:
- a criminal investigation has been started in England and Wales with regard to an indictable offence, a person has been arrested for the offence, proceedings for the offence have not yet commenced, there are reasonable grounds to suspect that the person has benefited from conduct constituting the offence, and a restraint order is/is not in force in respect of any realisable property,
- proceedings for an indictable offence have been started in England and Wales and have not been concluded, there is reasonable cause to believe that the defendant has benefited from conduct constituting the offence, and a restraint order is/is not in force in respect of any realisable property,
- an application by the prosecutor for a reconsideration of the case or the benefit figure is made in circumstances where no confiscation order has been made or where the defendant has absconded, and there is reasonable cause to believe that the defendant has benefited from criminal conduct,
- an application by the prosecutor has been made to reconsider the benefit figure or the available amount and not concluded, and there is reasonable cause to believe that the court will decide that the benefit figure or available amount will increase,
- on being satisfied as to any of the above conditions being met, an appropriate officer may seize any realisable property if the officer has reasonable grounds for suspecting that
- the property may otherwise be made unavailable for satisfying any Confiscation Order that has been or may be made against the defendant, or
- the value of the property may otherwise be diminished as a result of conduct by the defendant or any other person.
Who Can I Contact For Help? | Kangs Financial Crime Defence Solicitors
If you are or anticipate becoming subject to any criminal investigation, or are made subject to Restraint, Seizure or Confiscation Proceedings, it is essential that expert legal advice and assistance is obtained immediately.
If you require any assistance, please do not hesitate to contact the team at Kangs Solicitors through any of the following: