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Section 54

Dealing with property after seizure to be void

of Anti-Money Laundering, Anti-Terrorism Financing, Anti-Restricted Activity Financing and Proceeeds of Unlawful Activities Act 2001

ActIn forceProvision 68 of 143
Section 54
(1)

Where any property has been seized under this Act, and so long as such seizure remains in force, any dealing effected by any person or between any persons in respect of such property, except any dealing effected under this Act by an officer of a public body in his capacity as such officer, or otherwise by or on behalf of the Federal

Government, or the Government of a State, or a local authority or other statutory authority, shall be null and void, and shall not be registered or otherwise be given effect to by any person or authority.

(2)

Subsection (1) shall be in addition to and not in derogation of subsections 51(3) and (4).

(3)

For so long as a seizure of any property under this Act remains in force, no action, suit or other proceedings of a civil nature shall be instituted, or if it is pending immediately before such seizure, be maintained or continued in any court or before any other authority in respect of the property which has been so seized, and no attachment, execution or other similar process shall be commenced, or if any such process is pending immediately before such seizure, be maintained or continued, in respect of such property on account of any claim, judgment or decree, regardless whether such claim was made, or such judgment or decree was given, before or after such seizure was effected, except at the instance of the Federal Government or the

Government of a State, or at the instance of a local authority or other statutory authority, or except with the prior consent in writing of the

Public Prosecutor.