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Section 62

Disposition of forfeited property

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

ActIn forceProvision 77 of 143
Section 62

Whenever property that is not required to be destroyed and that is not harmful to the public is forfeited under section 28L or 55 or 56, the court or an enforcement agency may, in accordance with the law—

(a)

retain it for official use, or transfer it to the Federal

Government; or

(b)

sell it and transfer the proceeds from such sale to the

Federal Government.

Read in full context — Anti-Money Laundering, Anti-Terrorism Financing, Anti-Restricted Activity Financing and Proceeeds of Unlawful Activities Act 2001 →