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Section 227 Value: the basic ruleC1I1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This section applies for the purpose of deciding the value at any time of property then held by a person.

(2)

Its value is the market value of the property at that time.

(3)

But if at that time another person holds an interest in the property its value, in relation to the person mentioned in subsection (1), is the market value of his interest at that time, ignoring any charging order under a provision listed in subsection (4).

(4)

The provisions are—

(a)

section 9 of the Drug Trafficking Offences Act 1986 (c. 32);

(b)

section 78 of the Criminal Justice Act 1988 (c. 33);

(c)

Article 14 of the Criminal Justice (Confiscation) (Northern Ireland) Order 1990 (S.I. 1990/2588 (N.I. 17));

(d)

section 27 of the Drug Trafficking Act 1994 (c. 37);

(e)

Article 32 of the Proceeds of Crime (Northern Ireland) Order 1996 (S.I. 1996/1299 (N.I. 9)).

(5)

This section has effect subject to sections 228 and 229.

Annotations

Modifications

C1

Pt. 4 applied by S.I. 1989/1341 (N.I. 12), arts. 57(5B), 59(8B) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), Supreme Court s. 458(1), Sch. 11 para. 19(2)(3); S.I. 2003/333, art. 2, Sch.)

Commencement

I1

S. 227 in force at 24.3.2003 by S.I. 2003/333, art. 2, Sch.

Notes on Part 4

Modifications

C1

Pt. 4 functions of receiver extended (24.2.2003) by Proceeds of Crime Act 2002 (Enforcement in different parts of the United Kingdom) Order 2002 (S.I. 2002/3133), arts. 1, 4(1)(a)

C3

Pt. 4: 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)

C4

Pt. 4 applied (3.12.2014) by The Criminal Justice and Data Protection (Protocol No. 36) Regulations 2014 (S.I. 2014/3141), reg. 1(b), Sch. 2 para. 11(5)

C5

Pt. 4 applied (3.12.2014) by The Criminal Justice and Data Protection (Protocol No. 36) Regulations 2014 (S.I. 2014/3141), reg. 1(b), Sch. 2 para. 6(5)

C6

Pt. 4 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)

C7

Pt. 4 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)

C8

Pt. 4 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)