Commonwealth Consolidated Acts

PROCEEDS OF CRIME ACT 1987 - SECT 34

    Where:

  (a)   property is forfeited to the Commonwealth under this Part;

  (b)   an interest in the property is required to be transferred to a person (in this section called the purchaser ) under subsection   22(4) or 33(3), or under a direction under subparagraph   21(6)(d)(i), 23A(7)(d)(i) or 31(6)(d)(i);

  (c)   the purchaser's interest in the property, immediately before the forfeiture took place, was not the only interest in the property;

  (d)   the purchaser gives written notice to each other person who had an interest in the property immediately before the forfeiture took place that:

  (i)   the purchaser intends to purchase that other interest from the Commonwealth; and

  (ii)   the person served with the notice may, within 21 days after receiving the notice, lodge a written objection to the purchase of that interest with the Minister;

  (e)   the person served with notice under paragraph   ( d) in relation to that interest does not lodge a written objection to the purchase of that interest with the Minister within the period referred to in that paragraph; and

  (f)   the person pays to the Commonwealth, while that interest is still vested in the Commonwealth, an amount equal to the value of that interest;

the Minister shall arrange for that interest to be transferred to the purchaser.