Commonwealth Consolidated Acts

CRIMES (SUPERANNUATION BENEFITS) ACT 1989 - SECT 33

  (1)   Where:

  (a)   a recovery order is made against a defendant; and

  (b)   a restraining order is, or has been, made against:

  (i)   property of the defendant; or

  (ii)   property of another person in relation to which an order is, or has been, made under subsection   40(1);

    in reliance on the defendant's conviction of a particular offence or a related corruption offence or on the charging, or proposed charging, of the defendant with a particular offence or a related corruption offence;

then, upon the making of the later of the orders, there is created, by force of this section, a charge on the property to secure the payment of the amount specified in the recovery order to the Commonwealth or the relevant Commonwealth authority, as the case requires.

  (2)   A charge on property of a person ceases to have effect:

  (a)   if the relevant recovery order ceases to have effect; or

  (b)   upon payment to the Commonwealth, or the relevant Commonwealth authority, of the amount specified in the order; or

  (c)   upon the person becoming a bankrupt; or

  (d)   upon the sale or other disposition of the property by the owner of the property with the consent of the court that made the recovery order; or

  (e)   upon the sale of the property to a purchaser in good faith for sufficient consideration who, at the time of the purchase, has no notice of the charge;

whichever first occurs.

  (3)   A charge on property:

  (a)   is subject to every encumbrance on the property that came into existence before the charge and that would, but for this subsection, have priority over the charge; and

  (b)   has priority over all other encumbrances; and

  (c)   subject to subsection   ( 2), is not affected by any change of ownership of the property.

  (4)   Where:

  (a)   a charge is created on property of a particular kind; and

  (b)   the provisions of any law of the Commonwealth or of a State or Territory provide for the registration of title to, or charges over, property of that kind;

the DPP may cause the charge to be registered under the provisions of that law and, if the charge is so registered, a person who purchases, or otherwise acquires an interest in, the property after the registration is to be taken, for the purposes of paragraph   ( 2)(e), to have notice of the charge at the time of the purchase or acquisition.