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PROCEEDS OF CRIME ACT 2002 - SECT 98A

Third exception--property located outside Australia

  (1)   Despite section   96, if property forfeited under section   92 is property located outside * Australia:

  (a)   that property vests in equity in the Commonwealth; and

  (b)   that property only vests in the Commonwealth at law to the extent permitted under the law in force in the place where that property is located; and

  (c)   the * responsible authority has power, on behalf of the Commonwealth, to do anything necessary or convenient to:

  (i)   give notice of, or otherwise protect, the Commonwealth's equitable interest in that property; or

  (ii)   arrange for the enforcement of, or give effect to, the declaration under section   95 that relates to the forfeiture of that property.

Note:   The following is an example of action by the responsible authority under subparagraph   (1)(c)(ii): arranging for a request under section   32 of the * Mutual Assistance Act in relation to the enforcement of the declaration under section   95 of this Act that relates to the forfeiture of that property.

  (2)   Any action by the * responsible authority under subparagraph   (1)(c)(i) is not a dealing for the purposes of subsection   99(1).

  (3)   Despite section   96 and subsection   (1) of this section, if:

  (a)   property forfeited under section   92 is property located outside * Australia; and

  (b)   under the law in force in the place where that property is located, that property vests in a person;

that property vests in that person under that law.

  (4)   Subsection   (3) does not affect any equitable interest vested in the Commonwealth by paragraph   (1)(a).



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