OpenLegislation

Section 12 Interest on unpaid sumsC1C2C3C5C6I1C4

England and Wales

(1)

If F1any amount required to be paid by a person under a confiscation order is not paid when it is required to be paid, he F2must pay interest on that amount for the period for which it remains unpaid.

(2)

The rate of interest is the same rate as that for the time being specified in section 17 of the Judgments Act 1838 (c. 110) (interest on civil judgment debts).

F3(3)

If—

(a)

an application has been made under section 11(4) for a specified period to be extended,

(b)

the application has not been determined by the court, and

(c)

the period of six months starting with the day on which the confiscation order was made has not ended,

the amount on which interest is payable under this section does not include the amount to which the specified period relates.

(4)

In applying this Part the amount of the interest must be treated as part of the amount to be paid under the confiscation order.

Annotations

Textual amendments

F1

Words in s. 12(1) substituted (1.6.2015) by Serious Crime Act 2015 (c. 9), s. 88(1), Sch. 4 para. 20(a); S.I. 2015/820, reg. 3(q)(iii)

F2

Words in s. 12(1) substituted (1.6.2015) by Serious Crime Act 2015 (c. 9), s. 88(1), Sch. 4 para. 20(b); S.I. 2015/820, reg. 3(q)(iii)

F3

S. 12(3) substituted (1.6.2015) by Serious Crime Act 2015 (c. 9), ss. 5(2), 88(1); S.I. 2015/820, reg. 3(b)

Modifications

C1

Pt. 2 applied by Terrorism Act 2000 (c. 11), Sch. 8 paras. 8(5A), 34(3A) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 39(2)(5); S.S.I. 2003/210, art. 2(1)(b)(2), sch. (with art. 7); S.I. 2003/333, art. 2, Sch.)

C2

Pt. 2 applied by Police and Criminal Evidence Act 1984 (c. 60), ss. 56(5B), 58(8B) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), s. 458(1), Sch. 11 para. 14(2)(3); S.I. 2003/333, art. 2, Sch.)

C3

Pt. 2 applied (with modifications) (3.12.2014) by The Criminal Justice and Data Protection (Protocol No. 36) Regulations 2014 (S.I. 2014/3141), regs. 1(b), 15(5)

C4

S. 12 excluded (3.12.2014) by The Criminal Justice and Data Protection (Protocol No. 36) Regulations 2014 (S.I. 2014/3141), regs. 1(b), 15(6)

C5

Pt. 2 applied (with modifications) (3.12.2014) by The Criminal Justice and Data Protection (Protocol No. 36) Regulations 2014 (S.I. 2014/3141), regs. 1(b), 10(5)

C6

Pt. 2 applied (with modifications) (1.6.2015) by The Restraint Orders (Legal Aid Exception and Relevant Legal Aid Payments) Regulations 2015 (S.I. 2015/868), regs. 1, 5 (with reg. 4)

Commencement

I1

S. 12 in force at 24.3.2003 by S.I. 2003/333, art. 2, Sch.

Notes on Part 2

Modifications

C3

Pt. 2: power to amend conferred (1.7.2005) by Serious Organised Crime and Police Act 2005 (c. 15), ss. 97(3), 178(8); S.I. 2005/1521, art. 3(1)(a)

C6

Pt. 2: power to modify conferred (20.3.2015) by Crime and Courts Act 2013 (c. 22), ss. 47, 61(2); S.I. 2015/813, art. 2(b)

C8

Pt. 2 applied (12.2.2019 for specified purposes, 13.8.2020 in so far as not already in force) by Counter-Terrorism and Border Security Act 2019 (c. 3), s. 27(1)(g), Sch. 3 para. 33(5) (with s. 25(9)); S.I. 2020/792, reg. 2(g)

C9

Pt. 2 applied (20.12.2023) by National Security Act 2023 (c. 32), s. 100(1), Sch. 6 para. 8(5) (with s. 97); S.I. 2023/1272, reg. 2(a)

C10

Pt. 2 applied (20.12.2023) by National Security Act 2023 (c. 32), s. 100(1), Sch. 6 para. 9(5) (with s. 97); S.I. 2023/1272, reg. 2(a)

C11

Pt. 2 applied (20.12.2023) by National Security Act 2023 (c. 32), s. 100(1), Sch. 6 para. 42(4) (with s. 97); S.I. 2023/1272, reg. 2(a)