New South Wales Consolidated Acts

CRIMINAL ASSETS RECOVERY ACT 1990 - SECT 23

23 Effect of assets forfeiture order

(1) On an assets forfeiture order taking effect in relation to an interest in property--

(a) the interest is forfeited to the Crown and vests in the NSW Trustee and Guardian on behalf of the Crown, and

(b) if the person forfeiting the interest was in possession, or was entitled to possession, of the property, the NSW Trustee and Guardian may take possession of the property on behalf of the Crown.

(2) An interest forfeited under subsection (1) is to be disposed of by the NSW Trustee and Guardian in accordance with the directions of the Treasurer and the proceeds are to be paid to the Treasurer and credited to the Proceeds Account.

(3) The Treasurer may delegate the power to give directions for the purposes of subsection (2).

(4) The Supreme Court may, when it makes an assets forfeiture order or at any later time, make any ancillary orders that the Court considers appropriate. For example, the Court may make ancillary orders for and with respect to facilitating the transfer to the Crown of interests in property forfeited to the Crown under such an order.