Document ID: chunk:federal_register_of_legislation:C2025C00034:section:297c:p1
Version: federal_register_of_legislation:C2025C00034
Segment Type: section
Provision Reference: s 297C (pt 1/3)
Character Range: 478150–481103

297C  Sharing with States and Territories

What this section is about
 (1) This section sets out the process under the *national cooperative scheme on unexplained wealth for sharing with a State or *self‑governing Territory *proceeds of confiscated assets that are shareable (within the meaning of the *NCSUW agreement).

Amount of proceeds to be shared
 (2) The proceeds are to be reduced by:
 (a) any amount of the proceeds that is payable to a foreign country under subsection 297B(2); and
 (b) any amounts for the making of payments referred to in paragraphs 297(fa), (ga) and (h) in relation to the proceeds.
The resulting amount is the net amount.

The subcommittee of the Cooperating Jurisdiction Committee
 (3) The Cooperating Jurisdiction Committee established under the *NCSUW agreement must establish a subcommittee for the purposes of deciding matters under this section in relation to the net amount.
 (4) The subcommittee must consist of the following members of the Cooperating Jurisdiction Committee:
 (a) the Commonwealth;
 (b) if, in the decision‑making period referred to in subsection (9), the Cooperating Jurisdiction Committee makes a unanimous decision that one or more *participating States, *cooperating States or *self‑governing Territories made a contribution (within the meaning of the *NCSUW agreement) in relation to the recovery of the proceeds—each of those States and Territories.

Non‑participating States' share
 (5) If, in the decision‑making period referred to in subsection (9), the subcommittee makes a unanimous decision that:
 (a) a *non‑participating State (other than a *cooperating State) made a contribution (within the meaning of the *NCSUW agreement) in relation to the recovery of the proceeds; and
 (b) it is appropriate that a specified proportion of the net amount be payable to that State;
then the specified proportion of the net amount is payable to that State under the *national cooperative scheme on unexplained wealth.

Participating States', cooperating States' and Territories' share
 (6) If the subcommittee includes one or more *participating States, *cooperating States or *self‑governing Territories, then:
 (a) any part of the net amount that remains after an application of subsection (5) is to be divided into equal proportions between the Commonwealth and each of those States or Territories; and
 (b) the resulting proportion for each of those States or Territories is payable to the State or Territory under the *national cooperative scheme on unexplained wealth.
 (7) However, if, in the decision‑making period referred to in subsection (9), the subcommittee makes a unanimous decision that:
 (a) it is inappropriate for the sharing arrangements referred to in subsection (6) to apply; and
 (b) it is appropriate that a specified proportion, of any part of the net amount that remains after any application of subsection (5), be payable to each of those States or Territories;
then: