OpenLegislation

Section 228 Value of property obtained from conductC1I1

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 of property obtained by a person as a result of or in connection with his criminal conduct; and the material time is the time the court makes its decision.

(2)

The value of the property at the material time is the greater of the following—

(a)

the value of the property (at the time the person obtained it) adjusted to take account of later changes in the value of money;

(b)

the value (at the material time) of the property found under subsection (3).

(3)

The property found under this subsection is as follows—

(a)

if the person holds the property obtained, the property found under this subsection is that property;

(b)

if he holds no part of the property obtained, the property found under this subsection is any property which directly or indirectly represents it in his hands;

(c)

if he holds part of the property obtained, the property found under this subsection is that part and any property which directly or indirectly represents the other part in his hands.

(4)

The references in subsection (2)(a) and (b) to the value are to the value found in accordance with section 227.

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. 228 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)