Queensland Consolidated Acts

CRIMINAL PROCEEDS CONFISCATION ACT 2002 - SECT 173

173 Buying out other interests under court order

(1) This section applies if—

(a) property that is forfeited to the State under a forfeiture order or on automatic forfeiture is still vested in the State; and

(b) the property or an interest in the property is required to be transferred to a person (the
"buyer" ) under an innocent interest exclusion order or a third party order or under section 172 or 175 ; and

(c) the buyer’s interest in the property, immediately before the forfeiture, was not the only interest in the property.

(2) If the buyer intends to buy the other interests in the property, the buyer must give written notice to any other person who had an interest in the property immediately before the forfeiture stating—

(a) the buyer intends to buy the other interests from the State; and

(b) within 21 days after receiving the notice, the person may give the Attorney-General a written objection to the sale of the person’s interest to the buyer.

(3) If—

(a) a person given a notice under subsection (2) does not give the Attorney-General a written objection to the sale of the interest to the buyer within the 21 days; and

(b) the buyer pays to the State an amount equal to the value of the interest;

the Attorney-General must arrange for the interest to be transferred to the buyer.

(4) The Attorney-General may do, or authorise the doing of, anything necessary or convenient to be done for the transfer.