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Article 75 Powers of enforcement administrators in respect of external orders for the recovery of specified propertyI1

United Kingdom

(1)

If the court appoints an administrator under article 73, it may act under this article on the application of the Lord Advocate where the external order is for the recovery of property specified in the order (“the specified property”).

(2)

The court may confer on the administrator the following powers in relation to the specified property—

(a)

power to take possession of the property;

(b)

power to manage or otherwise deal with the property;

(c)

power to realise the property in such manner as the court may specify;

F1(d)

so far as the property consists of cryptoassets, power to destroy the property.

(3)

The court may order any person who has possession of the specified property to give possession of it to the administrator.

(4)

The clerk of court must notify the offender and any person subject to an order under paragraph (3) of the making of that order.

(5)

Any dealing of the offender or any such person in relation to property to which the order applies is of no effect in a question with the administrator unless F2the offender or, as the case may be, that person had no knowledge of the administrator’s appointment.

(6)

The court—

(a)

may order a person holding an interest in the specified property to make to the administrator such payment as the court specifies in respect of a beneficial interest held by the offender or the recipient of a tainted gift;

(b)

may (on the payment being made) by order transfer, grant or extinguish any interest in the property.

(7)

The court must not—

(a)

confer the power mentioned in paragraph (2)(b) F3, (c) or (d) in respect of the property; or

(b)

exercise the power conferred on it by paragraph (6) in respect of property,

unless it gives persons holding interests in the property a reasonable opportunity to make representations about it.

(8)

The court may order that a power conferred by an order under this article is subject to such conditions and exceptions as it specifies.

F4(8A)

The court may confer the power mentioned in paragraph (6)(d) only where—

(a)

it is not reasonably practicable to realise the cryptoassets in question, or

(b)

there are reasonable grounds to believe that the realisation of the cryptoassets would be contrary to the public interest, having regard in particular to how likely it is that the entry of the cryptoassets into general circulation would facilitate criminal conduct by any person.

(8B)

An order conferring that power—

(a)

must set out the court’s assessment of the market value of the cryptoassets to which it relates;

(b)

may confer power to destroy the cryptoassets only to the extent that their market value, as set out in the order, is less than or equal to the amount remaining to be paid under the external order.

(8C)

If the administrator destroys any cryptoassets in the exercise of that power, the accused is to be treated as having paid, towards satisfaction of the external order, an amount equal to the market value, as set out in the order, of the cryptoassets which have been destroyed.

(9)

Managing or otherwise dealing with property includes—

(a)

selling the property or any part of it or interest in it;

(b)

carrying on or arranging for another person to carry on any trade or business the assets of which are or are part of the property;

(c)

incurring capital expenditure in respect of the property.

Annotations

Textual amendments

F1

Art. 75(2)(d) inserted (26.4.2025) by The Proceeds of Crime Act 2002 (External Investigations and External Orders and Requests) (Amendment) Order 2024 (S.I. 2024/1127), arts. 1(2), 9(a)

F2

Words in art. 75(5) substituted (11.8.2016) by The Proceeds of Crime Act 2002 (External Requests and Orders) (Amendment) Order 2016 (S.I. 2016/662), arts. 1, 16

F3

Words in art. 75(7)(a) substituted (26.4.2025) by The Proceeds of Crime Act 2002 (External Investigations and External Orders and Requests) (Amendment) Order 2024 (S.I. 2024/1127), arts. 1(2), 9(b)

F4

Art. 75(8A)-(8C) inserted (26.4.2025) by The Proceeds of Crime Act 2002 (External Investigations and External Orders and Requests) (Amendment) Order 2024 (S.I. 2024/1127), arts. 1(2), 9(c)

Commencement

I1

Art. 75 in force at 1.1.2006, see art. 1