The Proceeds of Crime Act, 2000 - The Bahamas Laws On-Line ...

PROCEEDS OF CRIME [CH.93 – 3331. (1) This section shall apply to the powersconferred on the court by sections 26 to 30 or on thereceiver pursuant to section 26 or 29 or in pursuance of acharging order.(2) Subject to subsections (3) to (6), the powersshall be exercised with a view to making available forsatisfying the confiscation order or (as the case may be)any confiscation order that may be made in the defendant’scase, the value for the time being of realisable propertyheld by any person by the realisation of such property.(3) In the case of realisable property held by aperson to whom the defendant has, directly or indirectly,made a gift caught by this Act, the powers shall beexercised with a view to realising no more than the valuefor the time being of the gift.(4) The powers shall be exercised with a view toallowing any person other than the defendant or therecipient of any such gift to retain or recover the value ofany property held by him.(5) In exercising those powers, no account shall betaken of any obligations of the defendant or of the recipientof any such gift which conflict with the obligation tosatisfy the confiscation order.32. (1) Where a receiver appointed under section 26or 29 or in pursuance of a charging order —(a) takes any action in relation to property which isnot realisable property, being action which hewould be entitled to take if it were suchproperty; and(b) believes and has reasonable grounds forbelieving, that he is entitled to take that action inrelation to that property,he shall not be liable to any person in respect of any loss ordamage resulting from his action, except in so far as theloss or damage is caused by his negligence.(2) Any amount due in respect of the remunerationand expenses of a receiver so appointed shall be paid out ofthe Consolidated Fund or the Confiscated Assets Fund.Exercise ofpowers for therealisation ofproperty.Receiverssupplementary.––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––[Original Service 2001]STATUTE LAW OF THE BAHAMAS