An Act to amend the Criminal Assets Recovery Act 1990 to make further provision with respect to the recovery of proceeds of illegal activities from persons associated with the perpetrators, and for other purposes.
1 Name of Act
This Act is the Criminal Assets Recovery Amendment Act 2014.
2 Commencement
This Act commences on the date of assent to this Act.
Schedule 1 Amendment of Criminal Assets Recovery Act 1990 No 23
[1] Section 4 Definitions
Insert “(including, without limitation, an increase in the value of an interest in property)” after “benefit” in the definition of proceeds in section 4 (1).
[2] Section 4 (1), definition of “proceeds”
Omit paragraph (b). Insert instead:(b) by another person if the person engaged in the activity:(i) intended for the other person to derive or realise (whether directly or indirectly) the interest, service, advantage or benefit, or(ii) knew, or ought reasonably to have known, that the other person would be likely to derive or realise (whether directly or indirectly) the interest, service, advantage or benefit.
[3] Schedule 1 Savings and transitional provisions
Insert at the end of clause 1 (1):any other Act that amends this Act
[4] Schedule 1, Part 6
Insert after Part 5:26 Application of amendments(1) The amendments made to this Act by the Criminal Assets Recovery Amendment Act 2014 extend to:(a) activities engaged in, and to proceeds that were derived or realised, before the commencement of those amendments, and(b) applications for orders under this Act made (but not yet determined) before the commencement of those amendments.(2) Nothing in those amendments affects the validity of any order made under this Act before the commencement of the amendments.