Document ID: chunk:federal_register_of_legislation:C2018C00169:section:34e
Version: federal_register_of_legislation:C2018C00169
Segment Type: section
Provision Reference: s 34E
Character Range: 97247–98624

34E  Determinations by Official Trustee about suspended and distributable funds
 (1) The Official Trustee may, at such times as it considers appropriate, but must, at least once in every 6 months, determine whether the amount of suspended funds standing to the credit of the Confiscated Assets Special Account:
 (a) is likely to be insufficient to meet the payments to be made out of the suspended funds for the purposes of paragraph 34C(1)(a); or
 (b) is likely to exceed the amount required to meet those payments.
 (2) Where the Official Trustee determines that the amount of suspended funds is likely to be insufficient to meet the payments to be made out of the suspended funds for the purposes of paragraph 34C(1)(a), the Official Trustee must declare that such an amount of the distributable funds as the Official Trustee identifies, being not more than the amount required to meet those payments, is to be identified as suspended funds.
 (3) Where the Official Trustee determines that the amount of suspended funds is likely to exceed the amount required to meet those payments, the Official Trustee must declare that such an amount of the suspended funds as the Official Trustee identifies, being not more than the amount of the likely excess, is to be identified as distributable funds.

Part III—Control of property liable to confiscation

Division 1—Search powers