Document ID: chunk:federal_register_of_legislation:C2018C00169:section:20:p1
Version: federal_register_of_legislation:C2018C00169
Segment Type: section
Provision Reference: s 20 (pt 1/2)
Character Range: 45556–48292

20  Effects of forfeiture order
 (1) Subject to subsection (2), where a court makes a forfeiture order against property, the property vests absolutely in the Commonwealth.
 (2) Where a forfeiture order is made against registrable property:
 (a) the property vests in equity in the Commonwealth but does not vest in the Commonwealth at law until the applicable registration requirements have been complied with;
 (b) the Commonwealth is entitled to be registered as owner of the property; and
 (c) the Minister has power, on behalf of the Commonwealth, to do, or authorise the doing of, anything necessary or convenient to obtain the registration of the Commonwealth as owner, including, without limiting the generality of this, the execution of any instrument required to be executed by a person transferring an interest in property of that kind.
 (2A) If a forfeiture order has been made against registrable property:
 (a) the DPP has power, on behalf of the Commonwealth, to do anything necessary or convenient to give notice of, or otherwise protect, the equitable interest of the Commonwealth in the property; and
 (b) any such action by or on behalf of the Commonwealth is not a dealing for the purposes of paragraph (3)(a).
 (3) Where a court makes a forfeiture order against property:
 (a) the property shall not, except with the leave of the court and in accordance with any directions of the court, be disposed of, or otherwise dealt with, by or on behalf of the Commonwealth, before the relevant time; and
 (b) if, at the relevant time, the order has not been discharged, then, subject to any direction under subsection (3A), the Official Trustee must, as soon as practicable after the relevant time:
 (i) if the property is money—after paying the Official Trustee's remuneration and other costs, charges and expenses of the kind referred to in subsection 55(1) payable to or incurred by it in connection with the restraining order, credit the amount of the remainder of the money to the Confiscated Assets Special Account as required by section 34B; and
 (ii) if the property is not money—sell or otherwise dispose of the property and, after paying the Official Trustee's remuneration and other costs, charges and expenses of the kind referred to in subsection 55(1) payable to or incurred by it in connection with the restraining order or the sale or disposition, credit the amount of the remainder of those proceeds to the Confiscated Assets Special Account as required by section 34B.
 (3A) Where a court makes a forfeiture order against property, the Minister, or a prescribed officer authorised by the Minister for the purposes of this subsection, may, at or after the relevant time but before the property is dealt with