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Section 303Z30 Prior authorisation for detention of cryptoassetsF1

(1)

Where an order is made under section 303Z28 in respect of a cryptoasset-related item, the court, sheriff or justice making the order may, at the same time, make an order to authorise the detention of any cryptoassets that may be seized as a result of information obtained from that item.

(2)

An application for an order under this section may be made, by a person mentioned in section 303Z28(5), at the same time as an application for an order under section 303Z28 is made by that person.

(3)

The court, sheriff or justice may make an order under this section if satisfied that there are reasonable grounds for suspecting that the cryptoassets that may be seized are recoverable property or intended by any person for use in unlawful conduct.

(4)

An order under this section authorises detention of the cryptoassets for the same period of time as the order under section 303Z28 authorises detention in respect of the cryptoasset-related item to which those cryptoassets relate.

Annotations

Textual amendments

F1

Pt. 5 Chs. 3C-3F inserted (26.10.2023 for specified purposes, 26.4.2024 for S. for specified purposes, 26.4.2024 for E.W.N.I. in so far as not already in force, 7.11.2024 for S. in so far as not already in force) by Economic Crime and Corporate Transparency Act 2023 (c. 56), s. 219(1)(2)(b)(c), Sch. 9 para. 1; S.I. 2024/269, reg. 4(b)(i)(ii); S.I. 2024/1108, reg. 2

Notes on Chapter 3C

Modifications

C1

Pt. 5 Ch. 3C applied (with modifications) (26.4.2025) by S.I. 2005/3181, art. 213Z19 (as inserted by The Proceeds of Crime Act 2002 (External Investigations and External Orders and Requests) (Amendment) Order 2024 (S.I. 2024/1127), arts. 1(2), 14)