Australian Capital Territory Current Acts

CONFISCATION OF CRIMINAL ASSETS ACT 2003 - SECT 98G

    (1)     This section applies if, in relation to a person—

        (a)     a restraining order is made; and

        (b)     an unexplained wealth order is made.

    (2)     On the making of the later of the orders, all of the restrained property is automatically charged to secure the payment to the Territory of the amount of the unexplained wealth order.

Note 1     An interstate unexplained wealth order is taken to be an unexplained wealth order under this Act (see s 139).

Note 2     If an unexplained wealth order is over restrained property that may be recorded in a statutory property register, details of the restraining order may be recorded in the register under s 50.

    (3)     If the restraining order is varied after the unexplained wealth order is made to add more property, the additional property is also automatically charged to secure payment to the Territory of the amount of the unexplained wealth order.

    (4)     A charge on property created by this section (an unexplained wealth charge )—

        (a)     is subject to every encumbrance on the property that came into existence before the charge and that would have priority over the charge if this subsection had not been enacted; and

        (b)     has priority over all other encumbrances; and

        (c)     is a statutory interest of a kind to which the Personal Property Securities Act 2009

(Cwlth), section 73 (2) applies; and

        (d)     is not affected by any change in the ownership of the property unless the change in ownership ends the unexplained wealth charge under section 98H (c) or (d).