New South Wales Consolidated Acts

CRIMINAL ASSETS RECOVERY ACT 1990 - SECT 52G

52G Charge on property subject to interstate restraining order

(1) A charge is created on property subject to an interstate restraining order to secure payment of the amount due under an interstate proceeds assessment or unexplained wealth order if--

(a) the order was made in connection with an interstate serious offence committed or alleged to be committed by the owner of the property, and

(b) an interstate proceeds assessment or unexplained wealth order is made in connection with that offence, and

(c) the interstate proceeds assessment or unexplained wealth order is registered in a court in New South Wales under the Service and Execution of Process Act 1992 of the Commonwealth.

(2) The charge is created as soon as both the interstate restraining order and the interstate proceeds assessment or unexplained wealth order are registered.

(3) The charge ceases to have effect as soon as any of the following events occurs--

(a) the interstate proceeds assessment or unexplained wealth order ceases to have effect,

(b) the interstate proceeds assessment or unexplained wealth order is discharged by a court hearing an appeal against the making of the order,

(c) the amount due under the interstate proceeds assessment or unexplained wealth order is paid,

(d) the owner of the property becomes bankrupt,

(e) the property is sold or disposed of--

(i) under an order made by a court under the corresponding law of the State in which the interstate proceeds assessment or unexplained wealth order was made, or

(ii) by the owner of the property with the consent of the court that made the interstate proceeds assessment or unexplained wealth order, or

(iii) if the interstate restraining order directed a person to take control of the property--by the owner of the property with the consent of that person.

(4) A charge created on property under this section--

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

(b) has priority over all other charges, and

(c) subject to subsection (3), is not affected by any change of ownership of the property.

(5) If a charge is created under this section on property of a particular kind and the provisions of any law (whether or not a law of the State) provide for the registration of title to, or charges over, property of that kind--

(a) the NSW Trustee and Guardian or an authorised officer may or, in the case of land, must cause the charge to be registered under the provisions of that law, and

(b) a person who purchases or otherwise acquires an interest in the property after the registration of the charge is, for the purposes of this section, taken to have notice of the charge at the time of the purchase or acquisition.

(6) A charge under this section on land under the Real Property Act 1900 has no effect until it is registered under that Act.

(7) Section 73 (2) of the Personal Property Securities Act 2009 of the Commonwealth is declared to apply to a charge created by this section.