Variation of Restraint Orders | Kangs Financial Restraint Order Solicitors

by | Oct 6, 2020 | NEWS

Service of a Financial Restraint Order of any nature (‘the order’) will impose immediate restrictions upon its recipient, both financially and personally, as all business and personal banking accounts will almost certainly have been frozen and prohibitions imposed upon the disposal of all assets without prior notice having been served.

However, an application may be available to the courts seeking variations to the order and John Veale of Kangs Solicitors explains the steps which may be taken.  

Upon being served with the order, it is essential that expert legal guidance is sought immediately to enable the requirements which it will impose and any application to vary or discharge it, to be attended to.   Kangs Solicitors offers vast experience dealing with situations arising from Freezing and Financial Restraint Orders and proceedings arising under the Proceeds Of Crime Act 2002 (‘POCA’).

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.

For an initial no obligation discussion, please call our Team at any of our offices detailed below:

The Procedure For Variation or Discharge of Restraint Orders

Section 42 of POCA provides that an application can be made to the Crown Court by:

  • The person who applied for the order, be it the prosecutor or an accredited financial investigator.
  • The person who is the subject of the order.
  • Anyone who is affected by the order

The Court must discharge or vary the order:

  • If the proceedings for which the order was granted have come to end.
  • If the application to re-open confiscation/vary the benefit/available amount on a confiscation order for which the order was granted has been completed.
  • If the investigation for which the order was granted does not result within a reasonable time in proceedings for an offence.
  • If the application at (ii) is not made within a reasonable time.

Variation Considerations | Kangs Restraint Order Variation Solicitors 

  • If the subject of the order is a director of a company, the assets of the company are also likely to have been included in the restrictions imposed by the order and a variation of the order may be required to enable the company to continue business whilst ongoing investigations are being conducted by the investigating authorities.
  • Where an asset has been frozen, such as real property, a variation may be required where, for example, it is subject to a contract for sale and it is necessary for completion to be effected. The court will then be involved in deciding how the proceeds of sale are to be handled, if the sale is allowed to proceed.
  • Frequently, the terms of the order will make provision for living expenses to be drawn down from an account to be agreed at a rate generally assessed at the outset at two hundred and fifty pounds each week.  It may be that the order requires variation to increase that amount in circumstances where the court considers it appropriate or the account from which the funds are drawn down needs to be changed.
  • Specific financial obligations may exist on behalf of a company or an individual requiring sanctioning by the court.
  • The order is likely to provide for such variations to be agreed in writing, but in any event, consent will have to be endorsed by the Crown Court.
  • Any application to discharge the order may be made as a ‘stand- alone’ application to the Crown Court at any stage.

How Can We Assist? | Kangs Freezing Order Solicitors

We have a proven track record in assisting individual and corporate clients in relation to all types of restraint proceedings including:

Immediate expert assistance will be required to facilitate meeting any financial obligations or running a business where assets have been made subject to a restraint order.  Seeking a discharge of the order is a complex matter that will involve an application to the Court supported by witness statements and evidence.

If you are in need of expert help and advice please do not hesitate to contact our team through:

Hamraj Kang
hkang@kangssolicitors.co.uk
07976 258171 | 020 7936 6396 | 0121 449 9888

John Veale
jveale@kangssolicitors.co.uk
0161 817 5020 | 020 7936 6396 | 07989 521 210

Tim Thompson
tthompson@kangssolicitors.co.uk
020 7936 6396 | 0121 449 9888