CRIMINAL FINANCES ACT 2017

2 new UK SI –

CRIMINAL FINANCES ACT 2017 (CONSEQUENTIAL AMENDMENT) REGULATIONS 2018

SI 2018/80 is concerned with section 15 of the Criminal Finances Act 2017 which amended the Proceeds of Crime Act 2002 by inserting new Chapter 3A which contains powers to search, seize and forfeit listed assets (such as precious metals, precious stones and artistic works) in summary proceedings.  This instrument amends section 278 of POCA so that assets forfeited by an order made under section 303R of POCA cannot be subject to further recovery action under the existing civil recovery powers in Chapter 2 of Part 5 of POCA.  The Order has effect from 31^st January.

http://www.legislation.gov.uk/uksi/2018/80/pdfs/uksiem_20180080_en.pdf

CRIMINAL FINANCES ACT 2017 (COMMENCEMENT NO. 4) REGULATIONS 2018

SI 2018/78 bring certain provisions of the 2017 Act into force w.e.f. 30^th January.  Some of these are technical or internal to the law enforcement and legal authorities.  However, the Regulations also provide for –

• Unexplained Wealth Orders from 31^st January
• An administrative power to freeze bank/building society accounts without a court order from 31^st January
• Allowing for the reconsideration of discharged confiscation orders
• Extending in terrorism legislation the definition of “cash” to include gaming vouchers, fixed-value casino tokens and betting receipts, and for administrative forfeiture orders, from 16^th April
• Amending the definition of “cash” in POCA 2002 as well, from 16^th April

http://www.legislation.gov.uk/uksi/2018/78/contents/made

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017