{"kind":"expression","expression":{"expr_id":"671","doc_id":"671","label":"2025 Revision","is_as_enacted":"f","commenced_on":"2025-02-13","superseded_on":null,"valid_from":"2025-02-13","valid_to":null,"is_current":"t","incorporating":null,"akn_expr_iri":"\/akn\/ky\/act\/2008\/10\/eng@2025-02-13","akn_envelope":"{\"_canary\": {\"iri\": {\"work\": \"\/akn\/ky\/act\/2008\/10\", \"expression\": \"\/akn\/ky\/act\/2008\/10\/eng@2025-02-13\", \"manifestation\": \"\/akn\/ky\/act\/2008\/10\/eng@2025-02-13.pdf\"}, \"pdf\": {\"md5\": \"1740c9a4128a5b8cf3eafade1ad9551e\", \"path\": \"\/Users\/q\/kyleg-data\/working\/PRINCIPAL\/2008\/2008-0010\/2008-0010_2025 Revision.pdf\", \"pages\": 164, \"filename\": \"2008-0010_2025 Revision.pdf\"}, \"errors\": [], \"extraction\": {\"model\": null, \"stats\": {\"word_count\": 58152, \"paragraph_count\": 204, \"text_char_count\": 364361}, \"usage\": null, \"method\": \"pymupdf-text\", \"version\": \"kyleg-akn-1.0\", \"extracted_at\": \"2026-06-22\"}, \"classification\": \"text_layer\", \"validation_flags\": [], \"docai_processor_id\": null}, \"akomaNtoso\": {\"act\": {\"body\": [{\"eId\": \"sec_n1\", \"num\": null, \"text\": \"Proceeds of Crime Act (2025 Revision) SCHEDULE 6 Activities falling within the Definition of \u201cRelevant Financial Business\u201d ENDNOTES Proceeds of Crime Act (2025 Revision) (2025 Revision) Part 1 - Preliminary\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_1\", \"num\": \"1.\", \"text\": \"Short title 1. This Act may be cited as the Proceeds of Crime Act (2025 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_2\", \"num\": \"2.\", \"text\": \"Interpretation 2. (1) In this Act unless the context otherwise requires \u2014 \u201cappropriate officer\u201d means \u2014 (a) a constable; or (b) any other person so designated by the Cabinet by Order for the purposes of this Act; \u201cClerk of the Court\u201d means the person appointed as such under section 7 of the Grand Court Act (2015 Revision); \u201ccompetent authority\u201d means a public body in the Islands charged with responsibility for combating money laundering and terrorist financing including \u2014 (a) the Financial Reporting Authority and any authority charged with the responsibility for investigating and prosecuting money laundering, Proceeds of Crime Act (2025 Revision) associated predicate offences and terrorist financing, and seizing or freezing and confiscating criminal assets; (b) any authority receiving reports on cross-border transportation of currency and bearer negotiable instruments; and (c) any authority having anti-money laundering or counter terrorist financing supervisory or monitoring responsibility aimed at ensuring compliance by a relevant financial business with anti-money laundering or counter terrorist financing requirements; \u201cconstable\u201d includes a person appointed as an investigating officer under the Anti-Corruption Act (2024 Revision) and a person appointed as an officer of Customs and Border Control under the Customs and Border Control Act (2024 Revision); \u201ccourt\u201d means the Grand Court; \u201ccourt of a foreign country\u201d includes a court of any state or territory of a foreign country; \u201ccriminal property\u201d has the meaning assigned thereto by section 144(3); \u201cdesignated non-financial business and profession\u201d means a natural or legal person designated as such in accordance with regulations made under this Act; \u201cDirector\u201d means the Director of the Financial Reporting Authority appointed pursuant to section 3(1)(a); \u201cfiat currency\u201d means currency that is issued by the relevant body in a country or by a government that is designated as legal tender in its country of issuance through, among other things, government decree, regulation or law; \u201cfinancial intelligence unit\u201d means a central, public body, responsible for receiving (and, as permitted, requesting), analysing and disseminating disclosures of financial information \u2014 (a) concerning proceeds of criminal conduct or suspected proceeds of criminal conduct; or (b) required by any law in order to counter money laundering, and includes a law enforcement agency; \u201cFinancial Reporting Authority\u201d means the Financial Reporting Authority existing pursuant to section 3(1); \u201cfinancial year\u201d in relation to the Financial Reporting Authority, means a year ending on 31st December; \u201cinformation\u201d in relation to the reporting of matters to the Financial Reporting Authority means information of financial transactions, including information on the predicate offence from which the proceeds are, may be or will be derived or any suspicion of the same and also an inchoate offence; Proceeds of Crime Act (2025 Revision) \u201cinsurance business\u201d means business of any of the classes of business specified in the Schedule to the Anti-Money Laundering Regulations (2025 Revision) and for the avoidance of doubt, does not include \u201creinsurance business\u201d as defined in the Insurance Act, 2010 [Law 32 of 2010]; \u201cinterest\u201d, in relation to property, includes right; \u201cmodifications\u201d includes additions, alterations and omissions; \u201cMonetary Authority\u201d means the Cayman Islands Monetary Authority established under section 5(1) of the Monetary Authority Act (2020 Revision) and includes any employee of the Monetary Authority acting under the Monetary Authority\u2019s authorisation; \u201cnominated officer\u201d means a person nominated by the business concerned for the purpose of receiving (under Part 5) reports relating to criminal conduct; \u201coverseas financial intelligence unit\u201d means a financial intelligence unit in a country other than the Islands; \u201cprior Law\u201d means the Proceeds of Criminal Conduct Law (2007 Revision) or any other Law or provision that made provisions relating to money laundering, and the regulations made thereunder, as in effect on the day immediately prior to 30th September, 2008, the date of commencement of the Proceeds of Crime Law, 2008 [Law 10 of 2008]; \u201cproperty\u201d includes money and all other property, real or personal, including things in action and other intangible or incorporeal property, and when used in relation to terrorism means, in addition, property likely to be used for the purposes of terrorism, proceeds from the commission of acts of terrorism or which has been used or is reasonably suspected to have been used, directly or indirectly, in the commission of an act of terrorism; \u201crelevant financial business\u201d means the business of engaging in one or more of the following \u2014 (a) banking or trust business carried on by a person who is for the time being a licensee under the Banks and Trust Companies Act (2025 Revision); (b) acceptance by a building society of deposits made by any person (including the raising of money from members of the society by the issue of shares); (c) business carried on by a co-operative society within the meaning of the Co-operative Societies Act (2020 Revision); (d) insurance business and the business of an insurance manager, an insurance agent and an insurance broker, who is licenced pursuant to the Insurance Act, 2010 [Law 32 of 2010], that is connected with insurance business; (e) mutual fund administration or the business of a regulated mutual fund within the meaning of the Mutual Funds Act (2025 Revision); Proceeds of Crime Act (2025 Revision) (f) the business of company management as defined by the Companies Management Act (2025 Revision), except that the services specified in section 3(4)(a) of that Act shall not be excluded for the purposes of Regulations made under this Act from the provision of the specified services as defined in subsection (2) of that section; and (g) any of the activities set out in Schedule 6, other than an activity falling within paragraphs (a) to (f) of this definition; \u201csecurities investment business\u201d has the meaning assigned in the Securities Investment Business Act (2020 Revision); \u201cself-regulatory body\u201d means a body designated under this Act and regulations made under this Act as a Supervisory Authority for a designated non-financial business and profession; \u201cSteering Group\u201d means the Anti-Money Laundering Steering Group appointed pursuant to section 5; \u201cSupervisory Authority\u201d means the Monetary Authority or other body that may be assigned, pursuant to section 4(9), the responsibility of monitoring compliance with regulations made under this Act in relation to persons carrying out relevant financial business who are not otherwise subject to such monitoring by the Monetary Authority; \u201ctransfer\u201d, in relation to a virtual asset, means conducting a transaction on behalf of a natural or legal person that moves a virtual asset from one virtual asset address or account to another; \u201cterrorism\u201d has the meaning assigned thereto in section 2 of the Terrorism Act (2018 Revision); \u201cvirtual asset\u201d means a digital representation of value that can be digitally traded or transferred and can be used for payment or investment purposes but does not include any digital representation of fiat; currencies; and \u201cvirtual asset service\u201d means the business of conducting one or more of the following activities or operations for or on behalf of a person \u2014 (a) exchanging between virtual assets and fiat currencies; (b) exchanging between one or more other forms of convertible virtual assets; (c) transferring virtual assets; (d) safekeeping or administering virtual assets or instruments enabling control over virtual assets; and (e) participating in and providing financial services related to an issuer\u2019s offer or sale of a virtual asset; (2) This Act applies to property wherever situated. Proceeds of Crime Act (2025 Revision) (3) Nothing in this Act confers any power on any court in connection with offences whose commission was completed before the 23rd December, 1996 or proceedings against a person for an offence instituted before 23rd December 1996 but \u2014 (a) where an offence was committed in whole or in part before 30th September, 2008, the commencement of the Proceeds of Crime Law, 2008 [Law 10 of 2008], the law and procedures applying before such commencement shall apply; (b) where all the offences of which the defendant is convicted were committed on or after the 30th September, 2008, the commencement of the Proceeds of Crime Law, 2008 [Law 10 of 2008], the procedures instituted by or under this Act shall apply. (4) References in this Act to property obtained, or to a pecuniary advantage derived, in connection with the commission of an offence include a reference to property obtained or to a pecuniary advantage derived both in that connection and in some other connection. (5) Subsections (6) to (11) shall have effect for the interpretation of this Act. (6) Property is held by any person if that person holds any interest in it. (7) References to property held by a person include a reference to property vested in that person in bankruptcy or as liquidator. (8) References to an interest held by a person beneficially in property include a reference to an interest which would be held by that person beneficially if the property were not so vested. (9) Property is transferred by one person to another if the first person transfers or grants to the other any interest in the property. (10) Any provision in this Act which refers to criminal property, criminal conduct, money laundering or the financing of terrorism shall be read as referring also to suspicion of the same whether or not the property concerned is thought to be in the Islands, outside the Islands or at whereabouts unknown, or is known to be in existence at the time the alleged act was committed. (11) Terrorist property shall, without prejudice to the provisions of the Terrorism Act (2018 Revision), be subject to all orders that may be made under this Act. (12) Schedule 6 may be amended by Order made by the Cabinet and the Order is subject to affirmative resolution of the Cayman Islands Parliament. 2A. Repealed 2A. Repealed by section 4 of the Proceeds of Crime (Amendment) Act, 2023 (Act 12 of 2023). Proceeds of Crime Act (2025 Revision) Part 2 - The Financial Reporting Authority\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_3\", \"num\": \"3.\", \"text\": \"Financial Reporting Authority 3. (1) There shall continue to be established a financial intelligence unit called the Financial Reporting Authority, consisting of the following persons \u2014 (a) the Director of the Financial Reporting Authority; (b) an attorney-at-law; (c) an accountant; and (d) such other persons, having suitable qualifications and experience, as may be necessary to provide services to the Financial Reporting Authority. (2) The Director of the Financial Reporting Authority shall be appointed in writing by the Governor acting in the discretion of the Governor after consultation with the Anti-Money Laundering Steering Group and shall hold office for such period of time and subject to such terms and conditions as the Governor may see fit. (2A) The persons specified in subsection (1)(b), (c) and (d) shall be appointed in writing by the chief officer of the Portfolio charged with responsibility for Legal Affairs, after consultation with the chairperson of the Anti-Money Laundering Steering Group. (3) The Cabinet may make regulations to give effect to the provisions of subsections (1) and (2) and sections 4 to 12.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_4\", \"num\": \"4.\", \"text\": \"Powers, functions and duties of Financial Reporting Authority 4. (1) The Financial Reporting Authority shall be responsible for receiving requesting, analysing and disseminating disclosures of information \u2014 (a) concerning proceeds of criminal conduct or suspected proceeds of criminal conduct; or (b) required by any law in order to counter money laundering. (1A) In analysing disclosures under subsection (1) the Financial Reporting Authority shall, among other types of analyses, carry out the following types of analyses \u2014 (a) operational analysis, in which the Financial Reporting Authority shall use available and obtainable information to \u2014 (i) identify specific targets; (ii) follow the trail of particular activities or transactions; and (iii) determine links between targets under subparagraph (i) and possible proceeds of crime, money laundering, predicate offences and terrorist financing; and Proceeds of Crime Act (2025 Revision) (b) strategic analysis, in which the Financial Reporting Authority shall use available and obtainable information, including data that may be provided by other competent authorities, to identify money laundering and terrorist financing related trends and patterns. (2) Without limiting subsection (1) and notwithstanding any other Law to the contrary, the Financial Reporting Authority \u2014 (a) shall receive all disclosures of information (including information from any overseas financial intelligence unit) which \u2014 (i) concern proceeds of criminal conduct, suspected proceeds of criminal conduct, money laundering, suspected money laundering, or the financing of terrorism; (ii) are relevant to its responsibilities as a financial intelligence unit; (aa) shall be provided with such information, as may be prescribed, including cash transaction reports, wire transfer reports and threshold-based declarations or disclosures where the information is required by law; (b) may, subject to subsection (3) \u2014 (i) where information is disclosed to the Financial Reporting Authority under this Act; or (ii) upon receipt of a request from an overseas financial intelligence unit, order any person to refrain from dealing with a person\u2019s account for a period not exceeding twenty-one days if satisfied that there is reasonable cause to believe that the information or the request, as the case may be, relates to proceeds or suspected proceeds of criminal conduct; (c) may, in its discretion, in writing, require the provision, within a period not exceeding seventy-two hours, by any person of information (excluding information that need not be disclosed under Part 5) for the purpose of \u2014 (i) clarifying or amplifying information disclosed to the Financial Reporting Authority under this Act; or (ii) responding to a request by an overseas intelligence unit; and, in exercising its discretion, the Financial Reporting Authority shall consider whether there is reasonable cause to believe that the information or the request, as the case may be, relates to proceeds or suspected proceeds of criminal conduct; (ca) may disseminate, in its discretion or upon request, information and results of any analysis to \u2014 (i) any competent authority; (ii) any Supervisory Authority within the Islands, and (iii) such other institutions or persons in the Islands as may be designated in writing by the Steering Group, Proceeds of Crime Act (2025 Revision) and shall use dedicated, secure and protected channels for such dissemination; (d) shall retain a record for a minimum of five years of \u2014 (i) all information received or disseminated by the Financial Reporting Authority; (ii) any agreement entered into under subparagraph (e); and (iii) any consent or direction given by the Attorney General under this Act; (e) may enter into any agreement or arrangement, in writing, with an overseas financial intelligence unit which the Financial Reporting Authority considers necessary or desirable for the discharge or performance of its responsibilities and functions; (ea) shall monitor compliance with Regulations made under this Act for the purpose of anti-terrorism financing and anti-proliferation financing measures; (f) shall collect, compile and annually publish, in such manner as the Financial Reporting Authority shall determine, statistical information relating to \u2014 (i) disclosures made to the Financial Reporting Authority under this Act; and (ii) any onward disclosures of such financial information by the Financial Reporting Authority; and (g) shall have, exercise and perform such other responsibilities, powers, functions and duties as may be assigned to the Financial Reporting Authority by this Act or any other Law. (2A) Where the Financial Reporting Authority enters into any agreement or arrangement under subsection (2)(e), the Financial Reporting Authority shall as soon as practicable inform the Steering Group that it has done so. (3) The power conferred by subsection (2)(b) is not exercisable unless the court, upon application by the Financial Reporting Authority, makes an order under this subsection permitting the exercise of that power. (4) Any person who without reasonable excuse fails or refuses to provide such information as is required by subsection (2)(c) commits an offence and is liable on summary conviction to a fine of fifty thousand dollars or to imprisonment for a term of two years, or to both. (5) An aggrieved person may, upon notice to the Attorney-General, apply to a judge in chambers to discharge an order made by the court under subsection (3), but such order shall remain in force until \u2014 (a) the judge in chambers determines otherwise; or Proceeds of Crime Act (2025 Revision) (b) the expiration of the period during which a person is required, by an order made under subsection (2)(b), to refrain from dealing with another person\u2019s account, whichever is sooner. (6) The Financial Reporting Authority shall perform its functions through the Director who shall have charge of the day-to-day management and operation of the Financial Reporting Authority. (7) If the Director is for any reason unable to perform the functions of that Director\u2019s post, the Director may appoint any person mentioned in paragraph (b), (c) or (d) of section 3(1), to act as Director. (8) Statistical information published pursuant to subsection (2)(f), shall without charge be made available by the Financial Reporting Authority for inspection at its office. (9) The Cabinet may assign to \u2014 (a) the Financial Reporting Authority; (b) a public body; (c) a self-regulatory body; or (d) any other person, the responsibility of monitoring compliance with anti-money laundering regulations made under this Act in relation to persons conducting \u201crelevant financial business\u201d who are not otherwise subject to such monitoring by the Cayman Islands Monetary Authority. (10) For the purpose of this section \u201cdedicated, secure and protected channels\u201d means the method by which information is disseminated. (11) The method employed under subsection (10) should disseminate information in such a manner so as to ensure that the information is not accessed by a person for whom the information was not intended.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_5\", \"num\": \"5.\", \"text\": \"Anti-Money Laundering Steering Group 5. (1) There shall continue to be established a body called the Anti-Money Laundering Steering Group appointed by the Cabinet and consisting of \u2014 (a) the Attorney General, who shall be the chairperson; (b) the chief officer in the Ministry responsible for Financial Services or the chief officer\u2019s designate who is the deputy chairperson; (c) the Commissioner of Police; (d) the Director of Customs and Border Control; (e) the Managing Director of the Monetary Authority appointed under section 13 of the Monetary Authority Act (2020 Revision); Proceeds of Crime Act (2025 Revision) (f) the Solicitor General; (fa) the Chairperson of the Anti-Corruption Commission; (g) the Director of Public Prosecutions; and (h) the chief officer or Director, as the case may be, of the department in Government charged with responsibility for monitoring compliance with Regulations made under section 145 in relation to persons conducting \u201crelevant financial business\u201d who are not otherwise subject to such monitoring by the Monetary Authority. (2) The Steering Group is responsible for the general oversight of the anti-money laundering policy of the Government which includes \u2014 (a) where the Steering Group considers it necessary to do so, and after consultation with the Monetary Authority, designating jurisdictions as having measures for combating money laundering and the financing of terrorism which are equivalent to that of the Islands; (b) determining the general administration of the business of the Financial Reporting Authority; (c) overseeing and inspecting the work of the Financial Reporting Authority; (d) reviewing annual reports submitted by the Director under section 11(b); (e) promoting effective collaboration among competent authorities in a manner that ensures the compatibility of the requirements for combating money laundering and terrorist financing with the law protecting personal data, privacy and related matters in the Islands; (f) monitoring interaction and cooperation with overseas financial intelligence units; and (g) taking such other measures which may be necessary to ensure compliance with requirements within the Islands for the combating of money laundering and terrorist financing. (2A) A designation under subsection (2)(a) shall be made by notice in writing and such notice shall be published by the Steering Group in the Gazette, on the website of the Monetary Authority and on any other government website determined by the Steering Group. (3) The Steering Group may regulate its own procedure. (3A) The Steering Group shall appoint a committee for the purposes set out in subsection (3B) whose members shall consist of the following persons \u2014 (a) the person at the head of the department of Government tasked with promoting compliance with anti-money laundering, counter terrorism financing and anti-proliferation financing measures who shall be the chairperson of the committee; and (b) a representative from the following \u2014 Proceeds of Crime Act (2025 Revision) (i) the Financial Reporting Authority; (ii) each statutory authority, department of Government or agency tasked with regulation for anti-money laundering, counter terrorism financing and anti-proliferation financing purposes; (iii) the unit within the Royal Cayman Islands Police Service tasked with the responsibility of investigating and prosecuting an offence relating to a financial crime; (iiia) the Anti-Corruption Commission; (iv) the department of Government known as the Customs Department; and (v) the Office of the Director of Public Prosecutions, and any other person that the Steering Group considers it necessary to appoint for the purposes for which the committee is appointed. (3B) A committee appointed pursuant to subsection (3A) shall \u2014 (a) implement or cause the implementation of the policies established by the Steering Group; (aa) ensure the compatibility of requirements for combating of money laundering and terrorist financing with the law protecting personal data and privacy and related matters in the Islands; (b) facilitate the coordination and cooperation between each statutory authority, department of Government or agency tasked with regulation for anti-money laundering, counter terrorism financing and anti-proliferation financing purposes; and (c) assess the risks to the Cayman Islands related to money laundering, counter terrorism financing and proliferation financing. (4) The validity of any proceedings of the Steering Group shall not be affected by any vacancy among the members or by any defect in the appointment of a member.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_6\", \"num\": \"6.\", \"text\": \"Issue of policy directions to Financial Reporting Authority 6. The Cabinet may, after consultation with the Steering Group, give to the Financial Reporting Authority directions of a general character as to the policy to be followed in the exercise and performance of its functions in relation to matters appearing to the Cabinet to concern the public interest, and the Financial Reporting Authority shall give effect to any such directions.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_7\", \"num\": \"7.\", \"text\": \"Financial Reporting Authority restricted from providing information 7. Notwithstanding the provisions of any other Law \u2014 (a) the Financial Reporting Authority; Proceeds of Crime Act (2025 Revision) (b) the Director, officers and other personnel of the Financial Reporting Authority; (c) the Steering Group; and (d) the members of the Steering Group, shall not be required to provide any information, documents or evidence except in accordance with the provisions of this Act or in compliance with an order made by the Grand Court.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_8\", \"num\": \"8.\", \"text\": \"Immunity of Financial Reporting Authority 8. Neither the Financial Reporting Authority, the Director, nor any officer, employee or agent of the Financial Reporting Authority, shall be liable in damages for anything done or omitted in the discharge or purported discharge of their respective functions under this Act unless it is shown that the act or omission was in bad faith or constituted wilful misconduct or negligence.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_9\", \"num\": \"9.\", \"text\": \"Protection upon disclosure of information to Financial Reporting Authority 9. (1) Without prejudice to any other provision of this Act, where a person discloses to a nominated officer or the Financial Reporting Authority information concerning \u2014 (a) the proceeds or suspected proceeds of criminal conduct; (b) money laundering or suspected money laundering; (c) terrorism or suspected terrorism; (d) the financing of terrorism or suspected financing of terrorism; or (e) the financing of proliferation or suspected financing of proliferation, the disclosure shall not be treated as a breach of any restriction upon the disclosure of information by any enactment or otherwise and the fact of such disclosure shall not give rise to any criminal or civil liability (2) For the purposes of this subsection having possession of any property shall be taken to be doing an act in relation to it.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_10\", \"num\": \"10.\", \"text\": \"Unauthorised disclosure by employees of Financial Reporting Authority 10. (1) A person who, being an employee or agent of the Financial Reporting Authority, obtains information in any form as a result of that person\u2019s connection with the Financial Reporting Authority or the Steering Group, shall not disclose that information to any person except so far as it is required or permitted under this or any other Law or by an order of the Grand Court. (2) Any person who communicates any information in breach of subsection (1) commits an offence and is liable on summary conviction to a fine of twenty-five thousand dollars or to a term of imprisonment of five years, or to both such fine and imprisonment. Proceeds of Crime Act (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_11\", \"num\": \"11.\", \"text\": \"Annual report of Financial Reporting Authority 11. The Director shall \u2014 (a) advise the Steering Group on the work of the Financial Reporting Authority and in particular on matters that could affect public policy or the priorities to be set by the Financial Reporting Authority; and (b) prepare and submit to the Steering Group no later than three months after the date of the end of the financial year an annual report reviewing the work of the Financial Reporting Authority and containing such other information as the Steering Group in its discretion shall require.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_12\", \"num\": \"12.\", \"text\": \"Guidelines 12. (1) The Financial Reporting Authority may, with the approval of the Steering Group, issue guidelines setting out \u2014 (a) any features of a transaction that may give rise to a suspicion that the transaction is or may be relevant to the enforcement of this Act; (b) the forms and procedures for making a report of any such transaction; and (c) the Authority\u2019s operational procedures in connection with disclosures made to it under this Act. (2) The Financial Reporting Authority \u2014 (a) shall from time to time review any guidelines issued under subsection (1); and (b) may, with the approval of the Steering Group, issue an amendment or revocation of the guidelines. (3) The Financial Reporting Authority shall, without charge, make available for inspection at its office all guidelines issued under subsection (1), and all amendments to and revocations of the guidelines.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_13\", \"num\": \"13.\", \"text\": \"Co-operation 13. (1) Persons who have functions relating to the investigation or prosecution of offences shall co-operate with the Director in the exercise of that Director\u2019s functions; and the Director shall co-operate with those persons in the exercise of functions they have under this Act. (2) Without limiting the generality of subsection (1), Schedule 1 shall apply.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_14\", \"num\": \"14.\", \"text\": \"Advice and assistance 14. The Director shall give the Cabinet advice and assistance which it reasonably requires and which \u2014 (a) relate to matters connected with the operation of this Act; and Proceeds of Crime Act (2025 Revision) (b) are designed to help the Cabinet to exercise its functions so as to reduce crime. Part 2A - Immunity of persons appointed as Supervisory Authorities 14A. Immunity of a person which is a Supervisory Authority 14A. Notwithstanding the provisions of any other Law, while carrying out a regulatory function under this Act, a person which is a Supervisory Authority, and its delegates, managers, officers, employees and agents, shall not be liable in damages for anything done or omitted in the discharge or purported discharge of their respective regulatory functions unless it is shown that the act or omission was in bad faith or constituted wilful misconduct. Part 3 - Confiscation - Confiscation orders\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_15\", \"num\": \"15.\", \"text\": \"Conditions for making of order 15. (1) The court or summary court shall have power, in addition to dealing with an offender in any other way, to make an order under this section requiring the offender to pay such sum as the court thinks fit. (2) The court or summary court shall make an order under this section if \u2014 (a) a defendant is convicted of an offence or offences in proceedings before the court; (b) the Director of Public Prosecutions asks the court to proceed under this section; or (c) the court believes it is appropriate for it to do so. (3) Where the conditions specified in subsection (2) are satisfied the court or summary court \u2014 (a) shall decide whether the defendant has a criminal lifestyle; (b) where it decides that the defendant has a criminal lifestyle, shall decide whether that person has benefited from that person\u2019s general criminal conduct; and (c) where it decides that the defendant does not have a criminal lifestyle, shall decide whether that person has benefited from that person\u2019s particular criminal conduct. (4) Where the court or summary court decides under subsection (3)(b) or (c) that the defendant has benefited from the conduct referred to it shall decide the Proceeds of Crime Act (2025 Revision) recoverable amount and make a confiscation order requiring that person to pay the amount. (5) When considering whether to make a confiscation order the court or summary court may take into account any information that has been placed before it showing that a victim of an offence to which the proceedings relate has instituted, or intends to institute, civil proceedings against the defendant in respect of loss, injury or damage sustained in connection with the offence. (6) The court or summary court shall decide any questions arising under subsection (3) or (4) on a balance of probabilities. (7) Subject to section 37, subsection (2)(a) does not apply if the defendant absconds but nothing in this Act shall prejudice the operation of any provision in the Criminal Procedure Code (2021 Revision) allowing proceedings to take place in the absence of a defendant. (8) References in this Part to the offence or offences concerned are to the offence or offences mentioned in subsection (2)(a). (9) Without prejudice to any rights of a third party against the person from whom property is to be confiscated under this Act, no action or other proceeding shall lie against the Government of the Islands in respect of that property.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_16\", \"num\": \"16.\", \"text\": \"Recoverable amount 16. (1) The recoverable amount for the purposes of section 15 is an amount equal to the defendant\u2019s benefit from the conduct concerned. (2) Notwithstanding subsection (1) \u2014 (a) where the defendant shows that the available amount is less than the benefit referred to in subsection (1) the recoverable amount is the available amount or a nominal amount, if the available amount is nil; or (b) where the court or summary court makes an order notwithstanding that any victim of the conduct has started or intends to start proceedings against the defendant in respect of loss, injury or damage sustained in connection with the conduct the recoverable amount is such amount as the court believes is just, but does not exceed the amount found under subsection (1) or paragraph (a), as the case may be. (3) In calculating the defendant\u2019s benefit from the conduct concerned for the purposes of subsection (1), any property in respect of which \u2014 (a) a recovery order is in force under section 96; (b) a forfeiture order is in force under section 118, shall not be taken into account. Proceeds of Crime Act (2025 Revision) (4) Where the court or summary court decides the available amount, it shall include in the confiscation order a statement of the matters it took into account in deciding the available amount.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_17\", \"num\": \"17.\", \"text\": \"Defendant\u2019s benefit 17. (1) Where the court or summary court is proceeding under section 15 this section applies for the purpose of deciding whether the defendant has benefited from conduct and for deciding that person\u2019s benefit from the conduct. (2) The court or summary court shall take account of conduct occurring up to the time it makes its decision and shall take account of property obtained up to that time. (3) Where the conduct concerned is general criminal conduct the court or summary court shall, if there has been no previous deduction on an earlier occasion, deduct the aggregate of the following amounts \u2014 (a) the amount ordered to be paid under each confiscation order previously made against the defendant; and (b) the amount ordered to be paid under each confiscation order previously made against that person under the Misuse of Drugs Act (2017 Revision) or the prior Law. (4) Subsection (3) does not apply to an amount which has been taken into account for the purposes of a deduction under that subsection on any earlier occasion. (5) The reference to general criminal conduct in the case of a confiscation order made under the Misuse of Drugs Act (2017 Revision) or the prior Law is a reference to conduct in respect of which a court is required or entitled to make one or more assumptions for the purpose of assessing a person\u2019s benefit from the conduct.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_18\", \"num\": \"18.\", \"text\": \"Available amount 18. (1) For the purposes of deciding the recoverable amount, the available amount is the aggregate of \u2014 (a) the total of the values (at the time the confiscation order is made) of all the free property then held by the defendant minus the total amount payable in pursuance of obligations which then have priority; and (b) the total of the values (at the time) of all tainted gifts. (2) An obligation has priority if it is an obligation of the defendant \u2014 (a) to pay an amount due in respect of a fine or other order of a court which was imposed or made on conviction of an offence and at any time before the time the confiscation order is made; or Proceeds of Crime Act (2025 Revision) (b) to pay a sum which would be included among the preferential debts if a defendant\u2019s bankruptcy had commenced on the date of the confiscation order or that person\u2019s winding up had been ordered on that date. (3) \u201cPreferential debts\u201d has the meaning given by section 135 of the Bankruptcy Act (1997 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_19\", \"num\": \"19.\", \"text\": \"Assumptions to be made in case of criminal lifestyle 19. (1) Where the court or summary court decides under section 15 that the defendant has a criminal lifestyle it shall make the following four assumptions specified in subsections (2) to (5) for the purpose of \u2014 (a) deciding whether that person has benefited from that person\u2019s general criminal conduct; and (b) deciding that person\u2019s benefit from the conduct. (2) The first assumption is that any property transferred to the defendant at any time after the relevant day was obtained by that person as a result of that person\u2019s general criminal conduct and at the earliest time that person appears to have held it. (3) The second assumption is that any property transferred to the defendant at any time after the date of conviction was obtained by that person as a result of that person\u2019s general criminal conduct, and at the earliest time that person appears to have held it. (4) The third assumption is that any expenditure incurred by the defendant at any time after the relevant day was met from property obtained by that person as a result of that person\u2019s general criminal conduct. (5) The fourth assumption is that, for the purpose of valuing a property obtained (or assumed to have been obtained) by the defendant, that person obtained it free of any other interests in it. (6) The court or summary court shall not make a required assumption in relation to particular property or expenditure if the assumption is shown to be incorrect, or there would be a serious risk of injustice if the assumption were made. (7) Where the court or summary court does not make one or more of the required assumptions it shall state its reasons. (8) The relevant day is the first day of the period of six years ending with \u2014 (a) the day when proceedings for the offence concerned were started against the defendant; or (b) if there are two or more offences and proceedings for them were started on different days, the earliest of those days. (9) Where a prior confiscation has been made against the defendant at any time during the period mentioned in subsection (8) \u2014 Proceeds of Crime Act (2025 Revision) (a) the relevant day is the day when the defendant\u2019s benefit was calculated for the purposes of the last such confiscation order; and (b) the second assumption does not apply to any property, which was held by that person on or before the relevant day. (10) The date of conviction is \u2014 (a) the date on which the defendant was convicted of the offence concerned; or (b) if there are two or more offences and the convictions were on different dates, the date of the latest.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_20\", \"num\": \"20.\", \"text\": \"Time for payment 20. (1) Subject to this section, the amount ordered to be paid under a confiscation order shall be paid on the date the order is made. (2) Where the defendant shows that that person needs time to pay the amount ordered to be paid, the court making the confiscation order may make an order allowing payment to be made within a specified period. (3) The specified period shall start with the day on which the confiscation order is made, and shall not exceed six months. (4) If within the specified period the defendant applies to the court or summary court for the period to be extended and the court or summary court believes that there are exceptional circumstances, it may make an order extending the period. (5) The extended period shall start with the day on which the confiscation order is made and shall not exceed 12 months. (6) An order under subsection (4) may be made after the end of the specified period but shall not be made after the end of the period of 12 months starting with the day on which the confiscation order is made. (7) The court or summary court shall not make an order under subsection (2) or (4) unless it gives the Director of Public Prosecutions an opportunity to make representations.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_21\", \"num\": \"21.\", \"text\": \"Interest on unpaid sums 21. (1) Where the amount required to be paid by a person under a confiscation order is not paid when it is required to be paid, that person shall pay interest on the amount for the period for which it remains unpaid. (2) The rate of interest under subsection (1) is that for the time being applying to a civil judgment debt. (3) For the purposes of this section a person is not required to pay any amount under a confiscation order if \u2014 (a) an application has been made under section 20(4); Proceeds of Crime Act (2025 Revision) (b) the application has not been determined by the court; and (c) the period of 12 months starting with the day on which the confiscation order was made has not ended. (4) In applying this Part the amount of the interest shall be treated as part of the amount to be paid under the confiscation order.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_22\", \"num\": \"22.\", \"text\": \"Effect of order on court\u2019s other powers 22. (1) Where the court or summary court makes a confiscation order against a defendant in any proceedings, it shall be the duty of the court, in respect of any offence of which that person is convicted in those proceedings, to take account of the order before \u2014 (a) imposing any fine on that person; (b) making any order involving any payment by that person, other than an order under section 33 of the Penal Code (2024 Revision) (compensation orders); (c) making any order under section 30 of the Misuse of Drugs Act (2017 Revision); or (d) making an order under section 28 of the Terrorism Act (2018 Revision) (forfeiture orders), but, subject to that, shall leave the order out of account in determining the appropriate sentence or other manner of dealing with that person. (2) Where \u2014 (a) the court or summary court makes both a confiscation order and an order under section 33 of the Penal Code (2024 Revision) against the same person in the same proceedings; and (b) the court believes that person will not have sufficient means to satisfy both the orders in full, the court shall direct that so much of the compensation as it specifies is to be paid out of any sums recovered under the confiscation order; and the amount it specifies shall be the amount it believes will not be recoverable because of the insufficiency of the person\u2019s means. Procedural matters\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_23\", \"num\": \"23.\", \"text\": \"Postponement 23. (1) The court or summary court may proceed under section 15 before it sentences the defendant for the offence or any of the offences concerned or postpone proceedings under section 15 for a specified period. Proceeds of Crime Act (2025 Revision) (2) The court or summary court may extend a period of postponement but, except in exceptional circumstances, a period of postponement including one as extended shall not end after the permitted period ends. (3) The permitted period is the period of two years starting with the date of conviction. (4) Where \u2014 (a) the defendant appeals against that person\u2019s conviction for the offence or any of the offences concerned; and (b) the period of three months (starting with the day when the appeal is determined or otherwise disposed of) ends after the period found under subsection (3), the permitted period is that period of three months. (5) A postponement or extension may be made \u2014 (a) on application by the defendant; (b) on application by the Director of Public Prosecutions; or (c) by the court or summary court of its own motion. (6) If proceedings are postponed for a period and an application to extend the period is made before it ends, the application may be granted even after the period ends. (7) The date of conviction is \u2014 (a) the date on which the defendant was convicted of the offence concerned; or (b) if there are two or more offences and the convictions were on different dates, the date of the latest. (8) References to appealing include references to appealing by way of case stated. (9) A confiscation order shall not be quashed only on the ground that there was a defect or omission in the procedure connected with the application for or the granting of a postponement. (10) Subsection (9) shall not apply if before it made the confiscation order the court imposed a fine on the defendant or made an order falling within section 23(1).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_24\", \"num\": \"24.\", \"text\": \"Effect of postponement 24. (1) Where the court or summary court postpones proceedings under section 15 it may proceed to sentence the defendant for the offence or any of the offences concerned. (2) In sentencing the defendant for the offence or any of the offences concerned in the postponement period the court or summary court shall not impose a fine on that person or make an order falling within section 22(1). Proceeds of Crime Act (2025 Revision) (3) Where the court or summary court sentences the defendant for the offence or any of the offences concerned in the postponement period, after that period ends it may vary the sentence by imposing a fine on that person or by making an order falling within section 22(1). (4) The court or summary court may only proceed under subsection (3) within the period of twenty-eight days, which starts with the last day of the postponement period. (5) For the purpose of section 13 of the Court of Appeal Act (2023 Revision) (time limit for appealing in criminal proceedings), or paragraph 1 of the Schedule to the Court of Appeal Act (2023 Revision) (time limit for application for leave to refer a sentence), the sentence shall be regarded as imposed or made on the day on which it is varied under subsection (3). (6) Where the court or summary court proceeds to sentence the defendant under subsection (1), section 15 has effect as if the defendant\u2019s particular criminal conduct included conduct which constitutes offences which the court has taken into consideration in deciding that person\u2019s sentence for the offence or offences concerned. (7) The postponement period is the period for which proceedings under section 15 are postponed.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_25\", \"num\": \"25.\", \"text\": \"Statement of information 25. (1) Where the court or summary court is proceeding under section 15 the Director of Public Prosecutions shall give the court a statement of information or, where the court is proceeding because it is appropriate to do so, it shall order the Director of Public Prosecutions to give the court a statement of information within a period specified by the court. (2) Where the Director of Public Prosecutions believes the defendant has a criminal lifestyle, the statement of information is a statement of matters the Director of Public Prosecutions believes are relevant in connection with deciding \u2014 (a) whether the defendant has a criminal lifestyle; (b) whether that person has benefited from that person\u2019s general criminal conduct; and (c) that person\u2019s benefit from the conduct. (3) A statement under subsection (2) shall include information the Director of Public Prosecutions believes is relevant \u2014 (a) in connection with the making by the court of a required assumption under section 19; and (b) for the purpose of enabling the court to decide if the circumstances are such that it shall not make such an assumption. Proceeds of Crime Act (2025 Revision) (4) Where the Director of Public Prosecutions does not believe the defendant has a criminal lifestyle the statement of information is a statement of matters the Director of Public Prosecutions believes are relevant in connection with deciding whether the defendant has benefited from that person\u2019s particular criminal conduct and the defendant\u2019s benefit from the conduct. (5) Where the Director of Public Prosecutions gives the court or summary court a statement of information \u2014 (a) that Director of Public Prosecutions may at any time give the court a further statement of information; and (b) that Director of Public Prosecutions shall give the court a further statement of information if the court orders that Director of Public Prosecutions to do so, and that Director of Public Prosecutions shall give it within the period the court orders. (6) The court or summary court may vary an order made under this section at any time.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_26\", \"num\": \"26.\", \"text\": \"Defendant\u2019s response to statement of information 26. (1) Where the Director of Public Prosecutions gives the court or summary court a statement of information and a copy is served on the defendant, the court may order the defendant \u2014 (a) to indicate, within the period it orders, the extent to which that person accepts each allegation in the statement; and (b) so far as that person does not accept such an allegation, to give particulars of any matters that person proposes to rely on. (2) Where the defendant accepts to any extent an allegation in a statement of information the court or summary court may treat that person\u2019s acceptance as conclusive of the matters to which it relates for the purpose of deciding the issues referred to in section 25(2) or (4) as the case may be. (3) Where the defendant fails in any respect to comply with an order under subsection (1) that person may be treated for the purposes of subsection (2) as accepting every allegation in the statement of information apart from \u2014 (a) any allegation in respect of which that person has complied with the requirement; and (b) any allegation that that person has benefited from that person\u2019s general or particular criminal conduct. (4) For the purposes of this section an allegation may be accepted or particulars may be given in a manner ordered by the court. (5) The court or summary court may vary an order made under this section at any time. Proceeds of Crime Act (2025 Revision) (6) An acceptance under this section that the defendant has benefited from conduct shall not be admissible in evidence in proceedings for an offence.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_27\", \"num\": \"27.\", \"text\": \"Provision of information by defendant 27. (1) This section applies if \u2014 (a) the court is proceeding under section 15 in a case where section 15(2)(a) applies; or (b) it is proceeding under section 15 in a case where section 15(2)(b) applies or it is considering whether to proceed. (2) For the purpose of obtaining information to help it in carrying out its functions the court may at any time order the defendant to give it information specified in the order. (3) An order under this section may require all or a specified part of the information to be given in a specified manner and before a specified date. (4) Where the defendant fails without reasonable excuse to comply with an order under this section the court or summary court may draw such inference as it believes is appropriate. (5) Subsection (4) does not affect any power of the court to deal with the defendant in respect of a failure to comply with an order under this section. (6) Where the Director of Public Prosecutions accepts to any extent an allegation made by the defendant \u2014 (a) in giving information required by an order under this section; or (b) in any other statement given to the court in relation to any matter relevant to deciding the available amount under section 18, the court may treat the acceptance as conclusive of the matter to which it relates. (7) For the purposes of this section an allegation may be accepted in a manner ordered by the court. (8) The court may vary an order made under this section at any time. (9) Information given under this section which amounts to an admission by the defendant that that person has benefited from criminal conduct is not admissible in evidence in proceedings for an offence. Reconsideration\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_28\", \"num\": \"28.\", \"text\": \"No order made: reconsideration of case 28. (1) This section applies if \u2014 (a) the condition in section 15(2)(a) is satisfied but a court has not proceeded under that section; Proceeds of Crime Act (2025 Revision) (b) there is evidence which was not available to the Director of Public Prosecutions on the relevant date; (c) before the end of the period of six years starting with the date of conviction the Director of Public Prosecutions applies to a court to consider the evidence; and (d) after considering the evidence the court believes it is appropriate for it to proceed under section 15. (2) Where this section applies the court shall proceed under section 15, and subsections (3) to (8) of this section shall apply. (3) Where a court has already sentenced the defendant for the offence or any of the offences concerned, section 15 has effect as if the defendant\u2019s particular criminal conduct included conduct which constitutes offences which the court has taken into consideration in deciding that person\u2019s sentence for the offence or offences concerned. (4) Where this section applies, section 17(2) shall not apply and the court shall instead \u2014 (a) take account of conduct occurring before the relevant date; (b) take account of property obtained before that date; and (c) take account of property obtained on or after that date if it was obtained as a result of or in connection with conduct occurring before that date. (5) For the purposes of this section, none of the assumptions stated in section 19 apply in reconsideration cases. (6) The recoverable amount for the purposes of section 15 is such amount as the court believes is just, but shall not exceed the amount found under section 16. (7) In arriving at the just amount the court shall have regard in particular to \u2014 (a) the amount found under section 16; (b) any fine imposed on the defendant in respect of the offence (or any of the offences) concerned; (c) any order which falls within section 22(1) and has been made against the defendant in respect of the offence or any of the offences concerned and has not already been taken into account by the court in deciding what is the free property held by the defendant for the purposes of section 18; and (d) an order, which has been made against that person in respect of the offence (or any of the offences), concerned under section 33 of the Penal Code (2024 Revision). (8) Where an order for the payment of compensation under section 33 of the Penal Code (2024 Revision) has been made against the defendant in respect of the offence or offences concerned, section 22(2) does not apply. Proceeds of Crime Act (2025 Revision) (9) For the purposes of this section the relevant date is \u2014 (a) if the court made a decision not to proceed under section 16, the date of the decision; or (b) if the court did not make such a decision, the date of conviction. (10) For the purposes of this section the date of conviction is \u2014 (a) the date on which the defendant was convicted of the offence concerned; or (b) if there are two or more offences and the convictions were on different dates, the date of the latest.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_29\", \"num\": \"29.\", \"text\": \"No order made: reconsideration of benefit 29. (1) Where \u2014 (a) in any proceeding under section 15 a court has decided that \u2014 (i) the defendant has a criminal lifestyle but has not benefited from that person\u2019s general criminal conduct; or (ii) the defendant does not have a criminal lifestyle and has not benefited from that person\u2019s particular criminal conduct; and (b) a court proceeded under section 15 because the Director of Public Prosecutions asked it to or because it believed it was appropriate for it to do so and \u2014 (i) there is evidence which was not available to the Director of Public Prosecutions when the court decided that the defendant had not benefited from that person\u2019s general or particular criminal conduct; (ii) before the end of the period of six years starting with the date of conviction the Director of Public Prosecutions applies to the Grand Court to consider the evidence; and (iii) after considering the evidence the court concludes that it would have decided that the defendant had benefited from that person\u2019s general or particular criminal conduct (as the case may be) if the evidence had been available to it, the court \u2014 (A) shall make a new decision under section 15(3)(b) or (c) whether the defendant has benefited from that person\u2019s general or particular criminal conduct (as the case may be); or (B) may make a confiscation order under that section. (2) Subsections (3) to (7) apply if the court proceeds under section 15 in pursuance of this section. Proceeds of Crime Act (2025 Revision) (3) Where a court has already sentenced the defendant for the offence (or any of the offences) concerned, section 15 has effect as if that person\u2019s particular criminal conduct included conduct which constitutes offences which the court has taken into consideration in deciding that person\u2019s sentence for the offence or offences concerned. (4) Where this section applies section 17(2) does not apply and the court shall instead \u2014 (a) take account of conduct occurring before the date of the original decision that the defendant had not benefited from that person\u2019s general or particular criminal conduct; (b) take account of property obtained before that date; and (c) take account of property obtained on or after that date if it was obtained as a result of or in connection with conduct occurring before that date. (5) For the purposes of this section, none of the assumptions stated in section 19 apply in reconsideration cases. (6) The recoverable amount for the purposes of section 16 is such amount as the court believes is just, but such amount shall not exceed the amount found under section 16. (7) In arriving at the just amount the court shall have regard in particular to \u2014 (a) the amount found under section 16; (b) any fine imposed on the defendant in respect of the offence (or any of the offences) concerned; and (c) any order which falls within section 22(1) and which has been made against the defendant in respect of the offence (or any of the offences) concerned and has not already been taken into account by the court in deciding what is the free property held by that person for the purposes of section 18. (8) Where an order for the payment of compensation under section 33 of the Penal Code (2024 Revision) has been made against the defendant in respect of the offence or offences concerned section 22(2) shall not apply. (9) For the purposes of this section the date of conviction is the date found by applying section 28(10).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_30\", \"num\": \"30.\", \"text\": \"Order made: reconsideration of benefit 30. (1) Where \u2014 (a) a court has made a confiscation order; (b) there is evidence which was not available to the Director of Public Prosecutions at the relevant time; Proceeds of Crime Act (2025 Revision) (c) the Director of Public Prosecutions believes that if the court were to find the amount of the defendant\u2019s benefit in pursuance of this section it would exceed the relevant amount; (d) before the end of the period of six years starting with the date of conviction the Director of Public Prosecutions applies to the Grand Court to consider the evidence; and (e) after considering the evidence the court believes it is appropriate for it to proceed under this section, the court shall make a new calculation of the defendant\u2019s benefit from the conduct concerned and when it does so subsections (2) to (5) shall apply. (2) Where a court has already sentenced the defendant for the offence (or any of the offences) concerned section 15 has effect as if that person\u2019s particular criminal conduct included conduct which constitutes offences which the court has taken into consideration in deciding that person\u2019s sentence for the offence or offences concerned. (3) Where this section applies section 17(2) shall not apply, and the court shall instead \u2014 (a) take account of the defendant\u2019s conduct occurring up to the time it decided the defendant\u2019s benefit for the purposes of the confiscation order; (b) take account of property obtained up to that time; and (c) take account of property obtained after that time if the property was obtained as a result of or in connection with conduct occurring before that time. (4) In applying section 17(5) the court shall not take into account a confiscation order. (5) For the purposes of this section, none of the assumptions stated in section 19 apply in reconsideration cases. (6) Where the amount found under the new calculation of the defendant\u2019s benefit exceeds the relevant amount the court \u2014 (a) shall make a new calculation of the recoverable amount for the purposes of section 15; and (b) if it exceeds the amount required to be paid under the confiscation order, may vary the order by substituting for the amount required to be paid such amount as it believes is just. (7) In applying subsection (6)(a) the court shall \u2014 (a) take the new calculation of the defendant\u2019s benefit; and (b) apply section 18 as if references to the time the confiscation order is made were to the time of the new calculation of the recoverable amount and as Proceeds of Crime Act (2025 Revision) if references to the date of the confiscation order were to the date of that new calculation. (8) In applying subsection (6)(b) the court shall have regard in particular to \u2014 (a) any fine imposed on the defendant for the offence (or any of the offences) concerned; and (b) any order which falls within section 22(1) and has been made against that person in respect of the offence (or any of the offences) concerned and has not already been taken into account by the court in deciding what is the free property held by that person for the purposes of section 18. (9) In applying subsection (6)(b) the court shall not have regard to an order falling within subsection (8)(b) if a court has made a direction under section 22(2). (10) In deciding under this section whether one amount exceeds another, the court shall take account of any change in the value of money. (11) For the purposes of this section the relevant time is \u2014 (a) when the court calculated the defendant\u2019s benefit for the purposes of the confiscation order, if this section has not applied previously; or (b) when the court last calculated the defendant\u2019s benefit in pursuance of this section, if this section has applied previously. (12) For the purposes of this section the relevant amount is \u2014 (a) the amount found as the defendant\u2019s benefit for the purposes of the confiscation order, if this section has not applied previously; or (b) the amount last found as the defendant\u2019s benefit in pursuance of this section, if this section has applied previously. (13) For the purposes of this section the date of conviction is the date found by applying section 19(10).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_31\", \"num\": \"31.\", \"text\": \"Order made: reconsideration of available amount 31. (1) Where \u2014 (a) a court has made a confiscation order; (b) the amount required to be paid was the amount found under section 16(2); and (c) the Director of Public Prosecutions or a receiver appointed under section 52 applies to the court to make a new calculation of the available amount, the court shall make the new calculation, and in doing so it shall apply section 18 as if references to the time the confiscation order is made were to the time of the new calculation and as if references to the date of the confiscation order were to the date of the new calculation. Proceeds of Crime Act (2025 Revision) (2) Where the amount found under the new calculation exceeds the relevant amount the court may vary the order by substituting for the amount required to be paid such amount as it believes is just but shall exceed the amount found as the defendant\u2019s benefit from the conduct concerned. (3) The court in deciding what is just for the purposes of subsection (2) \u2014 (a) shall have regard in particular to \u2014 (i) any fine imposed on the defendant for the offence or any of the offences concerned; and (ii) any order which falls within section 23(1) and which has been made against that person in respect of the offence (or any of the offences) concerned and has not already been taken into account by the court in deciding what is the free property held by that person for the purposes of section 19; and (b) shall not have regard to an order falling within paragraph (a)(ii) if a court has made a direction under section 23(2). (4) In deciding under this section whether one amount exceeds another, the court shall take account of any change in the value of money. (5) For the purposes of this section the relevant amount is \u2014 (a) the amount found as the available amount for the purposes of the confiscation order, if this section has not applied previously; or (b) the amount last found as the available amount in pursuance of this section, if this section had applied previously. (6) The amount found as the defendant\u2019s benefit from the conduct concerned is \u2014 (a) the amount so found when the confiscation order was made; or (b) if one or more new calculations of the defendant\u2019s benefit have been made under this section the amount found on the occasion of the last such calculation.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_32\", \"num\": \"32.\", \"text\": \"Inadequacy of available amount: variation of order 32. (1) Where \u2014 (a) a court has made a confiscation order; and (b) the defendant, or a receiver appointed under section 52 or 53 applies to the court to vary the order under this section, the court shall calculate the available amount, and in doing so it shall apply section 19 as if references to the time the confiscation order is made were to the time of the calculation and as if references to the date of the confiscation order were to the date of the calculation. (2) Where the court finds that the available amount calculated in accordance with subsection (1) is inadequate for the payment of any amount remaining to be paid Proceeds of Crime Act (2025 Revision) under the confiscation order it may vary the order by substituting for the amount required to be paid such smaller amount as the court believes is just. (3) Where \u2014 (a) a person has been adjudged bankrupt; (b) a person\u2019s estate has been sequestrated; or (c) an order for the winding up of a company has been made, the court shall take into account the extent to which realisable property held by that person or that company may be distributed among creditors. (4) The court may disregard any inadequacy which it believes is attributable wholly or partly to anything done by the defendant for the purpose of preserving property held by the recipient of a tainted gift from any risk of realisation under this Part. (5) In subsection (3) \u201ccompany\u201d means any company which may be wound up under the Bankruptcy Act (1997 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_33\", \"num\": \"33.\", \"text\": \"Inadequacy of available amount: discharge of order 33. (1) Where \u2014 (a) a court has made a confiscation order, (b) the Clerk of the Court applies to the court for the discharge of the order; and (c) the amount remaining to be paid under the order is less than one thousand dollars, the court shall calculate the available amount, and in doing so it shall apply section 18 as if references to the time the confiscation order is made were to the time of the calculation and as if references to the date of the confiscation order were to the date of the calculation. (2) Where the court \u2014 (a) finds that the available amount calculated in accordance with subsection (1) is inadequate to meet the amount remaining to be paid; and (b) is satisfied that the inadequacy is due wholly to a specified reason or a combination of specified reasons, it may discharge the confiscation order. (3) The specified reasons referred to in subsection (2) are \u2014 (a) in a case where any of the realisable property consists of money in a currency other than Cayman Islands dollars, that fluctuations in currency exchange rates have occurred; and (b) any reason specified by the Cabinet by order. Proceeds of Crime Act (2025 Revision) (4) The Cabinet may by order vary the amount for the time being specified in subsection (1)(c).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_34\", \"num\": \"34.\", \"text\": \"Small amount outstanding: discharge of order 34. (1) Where \u2014 (a) a court has made a confiscation order; (b) the Clerk of the Court applies to the court for the discharge of the order; and (c) the amount remaining to be paid under the order is fifty dollars or less, the court may discharge the order. (2) The Cabinet may by order vary the amount for the time being specified in subsection (1)(c).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_35\", \"num\": \"35.\", \"text\": \"Information 35. Where \u2014 (a) the court proceeds under section 15 in pursuance of section 28 or 29; or (b) the Director of Public Prosecutions applies under section 30, then \u2014 (i) the Director of Public Prosecutions shall give the court a statement of information within a period the court orders; (ii) section 25 applies accordingly (with appropriate modifications where the Director of Public Prosecutions applies under section 29); (iii) section 28 applies accordingly; and (iv) section 27 applies as it applies in the circumstances mentioned in section 27(1).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_36\", \"num\": \"36.\", \"text\": \"Defendant convicted or committed 36. (1) Where \u2014 (a) a defendant absconds after \u2014 (i) that defendant is convicted of an offence or offences in proceedings before the court; or (ii) that defendant is committed to the court in respect of an offence or offences under section 63; and (b) the Director of Public Prosecutions applies to the Grand Court to proceed under this section and the court believes it is appropriate for it to do so, the court shall, subject to subsection (2), proceed under section 15 in the same way as it would proceed if the two conditions set out in section 15(2)(a) and (b) are satisfied. Proceeds of Crime Act (2025 Revision) (2) Where the court proceeds under section 15 as applied by this section, this Part has effect with these modifications \u2014 (a) any person the court believes is likely to be affected by an order under section 15 is entitled to appear before the court and make representations; (b) the court shall not make an order under section 16 unless the Director of Public Prosecutions has taken reasonable steps to contact the defendant; (c) section 15(7) applies as if the reference to subsection (2) (a) were to subsection (1) (a) of this section; (d) sections 29, 25(4), 26 and 27 shall not be taken into account; and (e) sections 28, 29 and 30 shall not be taken into account while the defendant is still an absconder. (3) Where the defendant ceases to be an absconder section 28 has effect as if subsection (1) (a) of that section read \u2014 \u201c(a) at a time when the first condition in section 36 was satisfied the court did not proceed under section 15,\u201d. (4) Where the court does not believe it is appropriate for it to proceed under this section once the defendant ceases to be an absconder, section 28 has effect as if subsection (1)(b) thereof read \u2014 \u201c(b) there is evidence which was not available to the Director of Public Prosecutions on the relevant date,\u201d.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_37\", \"num\": \"37.\", \"text\": \"Defendant neither convicted nor committed 37. (1) Where \u2014 (a) proceedings for an offence or offences are started against a defendant but are not concluded; (b) the defendant absconds; (c) the period of two years (starting with the day the court believes that person absconded) has ended; and (d) the Director of Public Prosecutions applies to the Grand Court to proceed under this section and the court believes it is appropriate for it to do so, the court shall proceed under section 15 in the same way as it would proceed if the two conditions mentioned in section 15(2) (a) and (b) are satisfied. (2) Where the court proceeds under section 15 as applied by this section, this Part has effect with the following modifications \u2014 (a) any person the court believes it likely to be affected by an order under section 15 is entitled to appear before the court and make representations; (b) the court shall not make an order under section 15 unless the Director of Public Prosecutions has taken reasonable steps to contact the defendant; Proceeds of Crime Act (2025 Revision) (c) section 15(7) applies as if the reference to subsection (2) (a) were to subsection (1) of this section; (d) sections 20, 25(4) and 26 to 29 shall not be taken into account; and (e) section 27 shall not be taken into account while the defendant is still an absconder. (3) Where the defendant has ceased to be an absconder section 30 has effect as if reference to the date of conviction were to \u2014 (a) the day when proceedings for the offence concerned were started against the defendant; or (b) if there are two or more offences and proceedings for them were started on different days, the earliest of those days. (4) Where \u2014 (a) the court makes an order under section 15 as applied by this section; and (b) the defendant is later convicted in proceedings before the court of the offence (or any of the offences) concerned, section 16 does not apply so far as that conviction is concerned.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_38\", \"num\": \"38.\", \"text\": \"Variation of order 38. (1) Where \u2014 (a) the court makes a confiscation order under section 16 as applied by section 37; (b) the defendant ceases to be an absconder; (c) that defendant is convicted of an offence (or any of the offences) mentioned in section 37(1)(a); (d) that defendant believes that the amount required to be paid was too large (taking the circumstances prevailing when the amount was found for the purposes of the order); (e) before the end of the relevant period that person applies to the court to consider the evidence on which that person\u2019s belief is based; and (f) the court after considering the evidence concludes that the defendant\u2019s belief is well founded, the court shall calculate the amount which should have been the amount required to be paid (taking the circumstances prevailing when the amount was found for the purposes of the order) and may vary the order by substituting for the amount required to be paid such amount as it believes is just. (2) For the purposes of this section the relevant period is a period of twenty-eight days starting with \u2014 Proceeds of Crime Act (2025 Revision) (a) the date on which the defendant was convicted of the offence mentioned in section 37(1)(a); or (b) if there are two or more offences and the convictions were on different dates, the date of the latest. (3) In a case where section 37(1)(a) applies to more than one offence the court shall make an order under this section unless it is satisfied that there is no possibility of any further proceedings being taken or continued in relation to any such offences in respect of which the defendant has not been convicted.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_39\", \"num\": \"39.\", \"text\": \"Discharge of order 39. (1) The court shall discharge an order where \u2014 (a) the court makes a confiscation order under section 15 as applied by section 37; (b) the defendant is later tried for the offence or offences concerned and acquitted on all counts; and (c) that defendant applies to the court to discharge the order. (2) Where \u2014 (a) the court makes a confiscation order under section 15 as applied by section 37; (b) the defendant ceases to be an absconder; (c) subsection (1)(b) does not apply; and (d) the defendant applies to the court to discharge the order, the court may discharge the order if it finds that \u2014 (i) there has been undue delay in continuing the proceedings mentioned in section 36(1); or (ii) the Director of Public Prosecutions does not intend to proceed with the prosecution. (3) Where the court discharges a confiscation order under this section it may make such consequential or incidental order as it believes is appropriate.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_40\", \"num\": \"40.\", \"text\": \"Appeal by the Director of Public Prosecutions 40. (1) Subject to subsection (2), where a court makes a confiscation order or it decides not to make a confiscation order the Director of Public Prosecutions may appeal to the Grand Court or Court of Appeal in respect of the order or against the decision. (2) Subsection (1) does not apply to an order or decision made by virtue of section 28, 29, 36 or 37. Proceeds of Crime Act (2025 Revision) (3) An appeal to the Grand Court or Court of Appeal under this Part lies only with the leave of that Court. (4) The Rules Committee shall make rules of court for the purposes of this Part.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_41\", \"num\": \"41.\", \"text\": \"Court\u2019s powers on appeal 41. (1) On an appeal under section 40(1) \u2014 (a) the Grand Court or Court of Appeal may confirm, quash or vary the confiscation order; or (b) the Court of Appeal may confirm the decision, or if it believes the decision was wrong it may \u2014 (i) itself proceed under section 15 (ignoring subsection (1) to (3) thereof); or (ii) direct the Grand Court or summary court to proceed afresh under section 15. (2) In proceeding afresh in pursuance of this section the Grand Court or summary court shall comply with any directions the Grand Court or Court of Appeal may make. (3) Where a court makes or varies a confiscation order under this section or in pursuance of a direction under this section it shall \u2014 (a) have regard to any fine imposed on the defendant in respect of the offence (or any of the offences) concerned; and (b) have regard to any order which falls within section 22(1) and has been made against the defendant in respect of the offence (or any of the offences) concerned, unless the order has already been taken into account by a court in deciding what is the free property held by the defendant for the purposes of section 18. (4) Where the Court of Appeal proceeds under section 15 or the Grand Court or summary court proceeds afresh under that section in pursuance of a direction under this section subsections (5) to (8) apply. (5) Where a court or summary court has already sentenced the defendant for the offence or any of the offences concerned, section 16 has effect as if the defendant\u2019s particular criminal conduct included conduct which constitutes the offence or offences concerned. (6) Where an order has been made against the defendant in respect of the offence or any of the offences under section 33 of the Penal Code (2024 Revision) the court or summary court shall have regard to such compensation order and section 22(2) shall not apply. (7) Where this section applies, section 17(2) shall not apply, and the court or summary court shall instead \u2014 Proceeds of Crime Act (2025 Revision) (a) take account of conduct occurring before the relevant date; (b) take account of property obtained before that date; and (c) take account of property obtained on or after that date if it was obtained as a result of or in connection with conduct occurring before that date. (8) For the purposes of this section, none of the assumptions stated in section 19 apply in reconsideration cases. (9) Where this section applies section 35 also applies as it applies in the circumstances mentioned in that section. (10) For the purposes of this section the relevant date is the date on which the Grand Court or summary court decided not to make a confiscation order. Enforcement as fines, etc.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_42\", \"num\": \"42.\", \"text\": \"Application of procedure for enforcing fines 42. (1) Where the court or summary court orders a defendant to pay an amount under this Act, sections 28 and 30 of the Penal Code (2024 Revision) shall have effect as if that amount were a fine imposed on the defendant by the court or summary court. (2) Where \u2014 (a) the court or summary court has directed that, in default of payment of an amount ordered to be paid under this Act in respect of an offence, the defendant shall serve a term of imprisonment; and (b) at the time the direction is made, the defendant is liable to serve a term of imprisonment in respect of the offence, the term of imprisonment to be served in default of payment of the amount shall not begin to run until after the term mentioned in paragraph (b). (3) For the purposes of subsection (2) \u2014 (a) consecutive terms of imprisonment and terms of imprisonment which are wholly or partly concurrent shall be treated as a single term; and (b) any sentence suspended under section 24 of the Penal Code (2024 Revision) which has not taken effect at the time the defendant has defaulted as specified in the direction shall be disregarded. (4) Where the defendant serves a term of imprisonment or detention in default of paying any amount due under a confiscation order, that person\u2019s serving that term does not prevent the confiscation order from continuing to have effect so far as any other method of enforcement is concerned.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_43\", \"num\": \"43.\", \"text\": \"Reconsideration, etc: variation of prison term 43. (1) Where \u2014 Proceeds of Crime Act (2025 Revision) (a) a court varies a confiscation order under section 30, 31, 32, 38 or 41; (b) the effect of the variation is to vary the maximum period of imprisonment applicable in relation to the order; and (c) the result is that the maximum period is less than the term of imprisonment or detention fixed in respect of the order under section 30 of the Penal Code (2024 Revision), the court shall fix a reduced term of imprisonment or detention in respect of the confiscation order in place of the term previously fixed. (2) Where subsection (1)(a) and (b) apply but not (c) the court may amend the term of imprisonment or detention fixed in respect of the confiscation order under section 30 of the Penal Code (2024 Revision). (3) Where the amount due under the confiscation order is increased by interest payable under section 21, the Director of Public Prosecutions may apply to the court to increase the term of imprisonment or detention in default. Restraint orders\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_44\", \"num\": \"44.\", \"text\": \"Conditions for exercise of powers 44. (1) The court may grant a restraint order in accordance with section 45 if any one of the following conditions is satisfied \u2014 (a) a criminal investigation has been started in the Islands with regard to an offence and there is reasonable cause to believe that the alleged offender has benefited from that person\u2019s criminal conduct; (b) proceedings for an offence have been started in the Islands and not concluded and there is reasonable cause to believe that the defendant has benefited from that person\u2019s criminal conduct; (c) either \u2014 (i) an application by the Director of Public Prosecutions has been made under section 28, 29, 36 or 37 and not concluded; or (ii) the court believes that such an application is to be made, and there is reasonable cause to believe that the defendant has benefited from that person\u2019s criminal conduct; (d) either \u2014 (i) an application by the Director of Public Prosecutions has been made under section 30 and not concluded, or (ii) the court believes that such an application is to be made, and there is reasonable cause to believe that the court will decide under that section that the amount found under the new calculation of the defendant\u2019s benefit exceeds the relevant amount (as defined in that section); or Proceeds of Crime Act (2025 Revision) (e) either \u2014 (i) an application by the Director of Public Prosecutions has been made under section 31 and not concluded; or (ii) the court believes that such an application is to be made, and there is reasonable cause to believe that the court will decide under that section that the amount found under the new calculation of the available amount exceeds the relevant amount, as defined in section 31. (2) The condition in subsection (1)(b) is not satisfied if the Director of Public Prosecutions does not intend to proceed. (3) Where subsection (1)(a) applies \u2014 (a) references in this Part to the defendant are to the alleged offender; and (b) section 70(5) has effect as if proceedings for the offence had been started against the defendant when the investigation was started.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_45\", \"num\": \"45.\", \"text\": \"Restraint orders 45. (1) Where any of the conditions set out in section 44 is satisfied the court may make a restraint order prohibiting any specified person from dealing with any realisable property held by that person subject to such conditions and exceptions as may be specified in the order. (2) A restraint order may provide that it applies \u2014 (a) to all realisable property held by the specified person whether or not the property is described in the order; or (b) to realisable property transferred to the specified person after the order is made. (3) Without prejudice to subsection (1), a restraint order may \u2014 (a) make provision for reasonable living expenses and reasonable legal expenses; or (b) make provision for the purpose of enabling any person to carry on any trade, business, profession or occupation. (4) An exception to a restraint order shall not provide for any legal expenses of the defendant or the recipient of a tainted gift where such expenses are incurred in relation to the offences in respect of which the restraint order is made. (4A) Without prejudice to subsections (1) and (4), a restraint order is subject to an exemption enabling relevant legal aid payments. (4B) For the purposes of subsection (4A) a relevant legal aid payment is a payment that the specified person is obliged to make \u2014 (a) in accordance with the Legal Aid Act, 2015 [Law 17 of 2015]; and Proceeds of Crime Act (2025 Revision) (b) in connection with legal aid services provided under the Act mentioned in paragraph (a) to the specified person to deal with the offence in respect of which the restraint order is made, whether the obligation arises before or after the restraint order is made. (4C) A legal aid payment under subsection (4A) \u2014 (a) shall be made subject to any prescribed restrictions on \u2014 (i) the circumstances in which payment may be made in reliance on the exception; or (ii) the amount of the payments that may be made in reliance on the exception; (b) shall be subject to any other prescribed conditions; and (c) may be subject to other conditions. (5) Where the court makes a restraint order the court may, upon the application of the Director of Public Prosecutions, make such other order as it believes is appropriate for the purpose of ensuring that the restraint order is effective. (6) A restraint order does not affect property for the time being subject to a charge under section 11 of the prior Law. (7) For the purposes of this section \u201cdealing with property\u201d includes removing it from the Islands.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_46\", \"num\": \"46.\", \"text\": \"Application, discharge and variation 46. (1) A restraint order \u2014 (a) may be made only on an application by the Director of Public Prosecutions; (b) may be made on an ex parte application to a judge in chambers; (c) shall provide for notice to be given to persons affected by the order; (d) may be discharged or varied in relation to any property; and (e) shall be discharged when proceedings for the offence are concluded. (2) An application for the discharge or variation of a restraint order may be made by any person affected by it and, for the purpose of clarification, it is declared that once proceedings are concluded, the order shall stand discharged but without prejudice to the effect of the decision made upon the conclusion of the matter. (3) Where the condition in section 44, which was satisfied, was that proceedings were started or an application was made, the court shall discharge the order on the conclusion of the proceedings or of the application, as the case may be. (4) Where the condition in section 44 which was satisfied was that an investigation was started or an application was to be made, the court shall discharge the order Proceeds of Crime Act (2025 Revision) if within a reasonable time proceedings for the offence are not started or the application is not made, as the case may be.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_47\", \"num\": \"47.\", \"text\": \"Appeal to Court of Appeal 47. (1) Where on an application for a restraint order the court decided not to make one, the Director of Public Prosecutions may appeal to the Court of Appeal against the decision. (2) Where an application is made under section 46(2) in relation to a restraint order or an order under section 45(2) the Director of Public Prosecutions or any person affected by the order may appeal to the Court of Appeal in respect of the court\u2019s decision on the application. (3) On an appeal under subsection (1) or (2) the Court of Appeal may either confirm the decision or make such order as it believes is appropriate.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_48\", \"num\": \"48.\", \"text\": \"Seizure 48. (1) Where a restraint order is in force a constable or a customs officer may seize any realisable property to which it applies to prevent its removal from the Islands. (2) Property seized under subsection (1) shall be dealt with in accordance with the court\u2019s directions.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_49\", \"num\": \"49.\", \"text\": \"Hearsay evidence 49. (1) Evidence must not be excluded in restraint proceedings on the ground that it is hearsay (of whatever degree). (2) Section 50 applies in relation to restraint proceedings. (3) Restraint proceedings are proceedings \u2014 (a) for a restraint order; (b) for the discharge or variation of a restraint order; or (c) on an appeal under section 47. (4) Hearsay is a statement which is made otherwise than by a person while giving oral evidence in the proceedings and which is tendered as evidence of the matters stated. (5) Nothing in this section affects the admissibility of evidence which is admissible apart from this section.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_50\", \"num\": \"50.\", \"text\": \"Considerations relevant to weighing of hearsay evidence 50. (1) In estimating the weight (if any) to be given to hearsay evidence in civil proceedings the court shall have regard to any circumstances from which any inference can reasonably be drawn as to the reliability or otherwise of the evidence. Proceeds of Crime Act (2025 Revision) (2) Regard may be had, in particular, to the following \u2014 (a) whether it would have been reasonable and practicable for the party by whom the evidence was adduced to have produced the maker of the original statement as a witness; (b) whether the original statement was made contemporaneously with the occurrence or existence of the matters stated; (c) whether the evidence involves multiple hearsay; (d) whether any person involved had any motive to conceal or misrepresent matters; (e) whether the original statement was an edited account, or was made in collaboration with another or for a particular purpose; and (f) whether the circumstances in which the evidence is adduced as hearsay are such as to suggest an attempt to prevent proper evaluation of its weight.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_51\", \"num\": \"51.\", \"text\": \"Supplementary: restraint orders 51. In the case of a restraint order made in respect of land \u2014 (a) the restraint order shall inhibit for a specified period of time, until the occurrence of a specified event or generally until further order, the registration of any dealing with any land, lease or charge; (b) a copy of the restraint order under the seal of the court, with the particulars of the land, lease or charge thereby affected shall be sent to the Registrar of Lands who shall register it in the Land Register maintained under section 9 of the Registered Land Act (2018 Revision) in respect of the land in question, and no restraint order shall bind or affect the land, lease or charge until it has been registered; and (c) so long as the restraint order remains registered, no instrument which is inconsistent with it shall be registered. Receivers\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_52\", \"num\": \"52.\", \"text\": \"Management receivership and enforcement receivership 52. (1) The court, upon the application of the Director of Public Prosecutions, may order a management receivership (to be performed by the Official Receiver) in respect of any realisable property to which a restraint order applies or an enforcement receivership (also to be performed by the Official Receiver) in respect of realisable property, if the confiscation order was made, is not satisfied and is not subject to appeal. (2) The court may empower the Official Receiver \u2014 (a) to take possession of the property; (b) to manage or otherwise deal with the property; Proceeds of Crime Act (2025 Revision) (c) to start, carry on or defend any legal proceedings in respect of the property; (d) to realise so much of the property as is necessary to meet the receiver\u2019s remuneration and expenses; or (e) in the case of an enforcement receiver to realise the property in such manner as the court may specify. (3) The court may by order confer on the receiver power to enter any premises in the Islands and to do any of the following \u2014 (a) search for or inspect anything authorised by the court; (b) make or obtain a copy, photograph or other record of anything so authorised; and (c) remove anything which the receiver is required or authorised to take possession of in pursuance of an order of the court. (4) The court may by order authorise the receiver to do any of the following for the purpose of the exercise of that person\u2019s functions \u2014 (a) hold property; (b) enter into contracts; (c) sue and be sued; (d) employ agents; (e) execute powers of attorney, deeds or other instruments; or (f) take any other steps the court thinks appropriate. (5) The court may order any person who has possession of realisable property to which a restraint order applies to give possession of it to the receiver. (6) The court \u2014 (a) may order a person holding an interest in realisable property to which the restraint order applies to make to the receiver such payment as the court specifies in respect of a beneficial interest held by the defendant or the recipient of a tainted gift; or (b) may, on the payment being made, by order transfer, grant or extinguish any interest in the property. (7) Subsections (2), (5) and (6) do not apply to property for the time being subject to a charge under section 11 of the prior Law. (8) The court shall not \u2014 (a) confer the power mentioned in subsection (2)(b) or (d) in respect of property, or (b) exercise the power conferred on it by subsection (6) in respect of property, unless it gives persons holding interests in the property a reasonable opportunity to make representations to the court. Proceeds of Crime Act (2025 Revision) (9) The court may order that a power conferred by an order under this section is subject to such conditions and exceptions as it specifies. (10) Managing or otherwise dealing with property includes \u2014 (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; and (c) incurring capital expenditure in respect of the property. Application of sums\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_53\", \"num\": \"53.\", \"text\": \"Application of proceeds of enforcement 53. (1) Such of \u2014 (a) the proceeds of the enforcement of any charge imposed under section 11 of the prior Law; (b) the proceeds of the realisation, other than by the enforcement of such a charge, of any property under section 52; or (c) any other sums, being property held by the defendant, as may be in the hands of the Official Receiver appointed under this Act after such payments, if any, as the court may direct have been made out of those sums, shall be applied on the defendant\u2019s behalf towards the satisfaction of the confiscation order. (2) If, after the amount payable under the confiscation order has been fully paid, any sums remain in the hands of the Official Receiver, the Official Receiver shall distribute them among such of those persons who held property which has been realised under this Act and in such proportions as the court may direct after giving a reasonable opportunity for such persons to make representations to the court. (3) The receipt of any sum by the Accountant General on account of an amount payable under a confiscation order shall reduce the amount so payable, but that person shall apply the money received for such of the purposes specified in this section as may be specified in the confiscation order and in the order so specified. (4) Where the money was paid to the Accountant General by the Official Receiver under this Act or in pursuance of a charging order, the Accountant General shall first pay the Official Receiver\u2019s expenses. (5) The Accountant General shall finally pay any compensation directed to be paid out of any sums recovered under the confiscation order under section 33. (6) Any money remaining in the hands of the Accountant General after that person has made all payments required by subsections (1) to (5) shall be treated as if it were a fine imposed by the court. Proceeds of Crime Act (2025 Revision) (7) Where, under subsection (3), a sum falls to be applied in payment both of compensation and of other outgoings \u2014 (a) the person entitled to the compensation shall be liable to pay to the revenues of the Islands such an amount as bears to the remuneration or expenses the same proportion as the amount payable in accordance with the direction under section 33 bears to the total amount payable under the confiscation order; (b) the Accountant General shall deduct from the amount falling to be applied in payment of the compensation an amount equal to the amount of any liability arising by virtue of paragraph (a); (c) notwithstanding the deduction under paragraph (b), the person entitled to the compensation shall be treated as having received the whole amount which falls to be applied in payment of it; and (d) the amount deducted shall be treated as if it were a fine imposed by the court.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_54\", \"num\": \"54.\", \"text\": \"Payment of receiver\u2019s fees where no assets 54. Where a receiver is appointed from the private sector and there are no assets or insufficient assets from which that person\u2019s fees can be paid, such reasonable fees as that person may charge or as may remain unpaid after the application of the assets shall be paid by the government. Restrictions\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_55\", \"num\": \"55.\", \"text\": \"Effect of restraint order 55. (1) Where a court makes a restraint order or an order under section 52 appointing an enforcement receiver in respect of realisable property \u2014 (a) no distress may be levied against any realisable property to which the order applies except with the leave of the court and subject to any terms the court may impose; (b) if the order applies to a tenancy of any premises, no landlord or other person to whom rent is payable may exercise a right within paragraph (c) except with the leave of the court and subject to any terms the court may impose; (c) a right is within this paragraph if it is a right of forfeiture by peaceable reentry in relation to the premises in respect of any failure by the tenant to comply with any term or condition of the tenancy; and (d) if a court in which proceedings are pending in respect of any property is satisfied that a restraint order has been applied for or made in respect of the property, the court may either stay the proceedings or allow them to continue on any terms it thinks fit. Proceeds of Crime Act (2025 Revision) (2) The court, before exercising any power conferred by subsection (1)(d), shall give the Director of Public Prosecutions and any receiver appointed under previous sections an opportunity to be heard. Receivers: further provisions\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_56\", \"num\": \"56.\", \"text\": \"Protection 56. Where a receiver appointed under section 52 \u2014 (a) takes action in relation to property which is not realisable property; (b) would be entitled to take the action if it were realisable property; and (c) believes on reasonable grounds that that receiver is entitled to take the action, that receiver is not liable to any person in respect of any loss or damage resulting from the action, except so far as the loss or damage is caused by that receiver\u2019s negligence.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_57\", \"num\": \"57.\", \"text\": \"Further applications 57. (1) This section applies to a receiver appointed under section 52. (2) The receiver may apply to the court for an order giving directions as to the exercise of that receiver\u2019s powers. (3) Any person affected by action taken by the receiver or any person who may be affected by any action the receiver proposes to take may apply to the Grand Court. (4) On an application under this section the court may make such order as it believes is appropriate.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_58\", \"num\": \"58.\", \"text\": \"Discharge and variation 58. (1) A receiver, the Director of Public Prosecutions and any person affected by an order made under section 52 may apply to the court to vary or discharge the order. (2) On an application under this section the court may discharge or vary the order. (3) In the case of an order under section 52 \u2014 (a) if the condition in section 44 which was satisfied was that proceedings were started or an application was made, the court shall discharge the order on the conclusion of the proceedings or of the application; and (b) if the condition which was satisfied was that an investigation was started or an application was to be made, the court shall discharge the order if within a reasonable time proceedings for the offence are not started or the application is not made. Proceeds of Crime Act (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_59\", \"num\": \"59.\", \"text\": \"Management receivers: discharge 59. (1) Where \u2014 (a) a management receiver stands appointed under section 52 in respect of realisable property; and (b) the court appoints an enforcement receiver, the court shall order the management receiver to transfer to the other receiver all property held by the management receiver by virtue of the powers conferred on that receiver by section 52. (2) Subsection (1) shall not apply to property which the management receiver holds by virtue of the exercise by that receiver of that receiver\u2019s power under section 52(2)(d). (3) Where the management receiver complies with an order under subsection (2) that person is discharged \u2014 (a) from that management receiver\u2019s appointment under section 52; and (b) from any obligation under this Act arising from that management receiver\u2019s appointment. (4) Where this section applies the court may make such consequential or incidental order as it believes is appropriate.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_60\", \"num\": \"60.\", \"text\": \"Appeal to Court of Appeal 60. (1) Where on an application for an order under any provision of section 52 the court decides not to make an order, the person who applied for the order may appeal to the Court of Appeal against the decision. (2) If the court makes an order under section 52 the person who applied for the order or any person affected by the order may appeal to the Court of Appeal in respect of the court\u2019s decision. (3) Where on an application for an order under section 57 the court decides not to make an order, the person who applied for the order may appeal to the Court of Appeal against the decision. (4) Where the court makes an order under section 58, the following persons may appeal to the Court of Appeal in respect of the court\u2019s decision \u2014 (a) the person who applied for the order; (b) any person affected by the order; or (c) the receiver. (5) The following persons may appeal to the Court of Appeal against a decision of the court on an application under section 58 \u2014 (a) the person who applied for the order in respect of which the application was made; Proceeds of Crime Act (2025 Revision) (b) any person affected by the court\u2019s decision; or (c) the receiver. (6) On an appeal under this section the Court of Appeal may confirm the decision of the court or make such order as it believes is appropriate. Seized money\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_61\", \"num\": \"61.\", \"text\": \"Seized money 61. (1) Where money is held by a person and is held in an account maintained by that person with a bank or a building society and \u2014 (a) a restraint order has effect in relation to money to which this section applies; (b) a confiscation order is made against the person by whom the money is held; (c) a receiver has not been appointed under section 52 in relation to the money; and (d) any period allowed under section 20 for payment of the amount ordered to be paid under the confiscation order has ended, a summary court may order the bank or building society to pay the money to the Clerk of the Court for the court, on account of the amount payable under the confiscation order. (2) Where a bank or building society fails to comply with an order under subsection (1) \u2014 (a) the summary court may order it to pay an amount of five thousand dollars; and (b) for the purposes of the Summary Jurisdiction Act (2025 Revision) the sum is to be treated as adjudged to be paid by a conviction of the summary court. (3) In order to take account of changes in the value of money the Cabinet may by order substitute another sum for the sum for the time being specified in subsection (2)(a). (4) For the purposes of this section \u2014 (a) a \u201cbank\u201d is a deposit-taking business within the meaning of the Banks and Trust Companies Act (2021 Revision); and (b) \u201cbuilding society\u201d has the same meaning assigned by the Building Societies Act (2020 Revision). Proceeds of Crime Act (2025 Revision) Exercise of powers\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_62\", \"num\": \"62.\", \"text\": \"Powers of court and receiver 62. (1) This section applies to \u2014 (a) the powers conferred on a court by sections 45 to 56 and sections 57 to 61; and (b) the powers of a receiver appointed under section 52. (2) Subject to subsection (3), the powers referred to in subsection (1) \u2014 (a) shall be exercised with a view to the value for the time being of realisable property being made available (by the property\u2019s realisation) for satisfying any confiscation order that has been or may be made against the defendant; (b) shall be exercised, in a case where a confiscation order has not been made, with a view to securing that there is no diminution in the value of realisable property; (c) shall be exercised without taking account of any obligation of the defendant or a recipient of a tainted gift if the obligation conflicts with the object of satisfying any confiscation order that has been or may be made against the defendant; and (d) may be exercised in respect of a debt owed by the Crown. (3) Subsection (2) has effect subject to the following \u2014 (a) the powers shall be exercised with a view to allowing a person other than the defendant or a recipient of a tainted gift to retain or recover the value of any interest held by that person; (b) in the case of realisable property held by a recipient of a tainted gift, the powers shall be exercised with a view to realising no more than the value for the time being of the gift; and (c) in a case where a confiscation order has not been made against the defendant, property shall not be sold if the court so orders under subsection (4). (4) Where on an application by the defendant or by the recipient of a tainted gift, the court decides that property cannot be replaced it may order that it shall not be sold. (5) An order under subsection (4) may be revoked or varied. Committal\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_63\", \"num\": \"63.\", \"text\": \"Committal by summary court 63. (1) Where \u2014 (a) a defendant is convicted of an offence by a summary court; and Proceeds of Crime Act (2025 Revision) (b) the Director of Public Prosecutions asks the court to commit the defendant to the Grand Court with a view to a confiscation order being considered under section 15, the summary court \u2014 (i) shall commit the defendant to the Grand Court in respect of the offence; and (ii) may commit the defendant to the Grand Court in respect of any other offence falling within subsection (2). (2) An offence falls within this subsection if \u2014 (a) the defendant has been convicted of it by the summary court or any other court; and (b) the summary court has power to deal with that person in respect of it. (3) Where a committal is made under this section in respect of an offence or offences \u2014 (a) section 15 applies accordingly; and (b) the committal operates as a committal of the defendant to be dealt with by the Grand Court in accordance with section 64. (4) Where a committal is made under this section in respect of an offence triable either way for which (apart from this section) the summary court could have committed the defendant for sentence under section 7 of the Criminal Procedure Code (2021 Revision), the court shall state whether it would have done so. (5) A committal under this section may be in custody or on bail.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_64\", \"num\": \"64.\", \"text\": \"Sentencing by Grand Court 64. (1) Where a defendant is committed to the Grand Court under section 63 in respect of an offence or offences, this section applies, whether or not the court proceeds under section 15. (2) In the case of an offence in respect of which the summary court has stated under section 63(4) that it would have committed the defendant for sentence, the Grand Court \u2014 (a) shall inquire into the circumstances of the case; and (b) may deal with the defendant in any way in which it could deal with that person if that person had just been convicted of the offence on indictment before it. (3) In the case of any other offence other than an offence triable either way the Grand Court shall inquire into the circumstances of the case, and may deal with the defendant in any way in which the summary court could deal with that person if it had just convicted that person of the offence. Proceeds of Crime Act (2025 Revision) Compensation\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_65\", \"num\": \"65.\", \"text\": \"Serious default 65. (1) Where \u2014 (a) a criminal investigation has been started with regard to an offence and proceedings are not started for the offence and \u2014 (i) in the criminal investigation there has been a serious default by a person mentioned in subsection (2); and (ii) the investigation would not have continued if the default had not occurred; or (b) proceedings for an offence are started against a person and \u2014 (i) they do not result in that person\u2019s conviction for the offence; or (ii) that person is convicted of the offence but the conviction is quashed or that person is pardoned in respect of it; and (iii) in the criminal investigation with regard to the offence or in its prosecution there has been a serious default by a person who is mentioned in subsection (2); and (iv) the proceedings would not have been started or continued if the default had not occurred; and (c) an application is made under this section by a person who held realisable property and has suffered loss in consequence of anything done in relation to it by or in pursuance of an order under this Part, the court may order the payment of such compensation as it believes is just. (2) Compensation under this section is payable to the applicant out of the revenues of the Islands if the person in default was a person concerned in the investigation or prosecution of the offence concerned.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_66\", \"num\": \"66.\", \"text\": \"Order varied or discharged 66. (1) Where \u2014 (a) the court varies a confiscation order under section 38 or discharges one under section 39; and (b) an application is made to the court by a person who held realisable property and has suffered loss as a result of the making of the order, the court may order the payment of such compensation as it believes is just. (2) Compensation under this section is payable out of the revenue of the Islands. Proceeds of Crime Act (2025 Revision) Enforcement abroad\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_67\", \"num\": \"67.\", \"text\": \"Enforcement abroad 67. (1) This section applies if \u2014 (a) any of the conditions in section 44 is satisfied; (b) the Director of Public Prosecutions believes that realisable property is situated in a country or territory outside the Islands (the receiving country); and (c) the Director of Public Prosecutions sends a request for assistance to the Governor with a view to it being forwarded under this section. (2) Where no confiscation order has been made, a request for assistance is a request to the government of the receiving country to secure that any person is prohibited from dealing with realisable property. (3) Where a confiscation order has been made and has not been satisfied, discharged or quashed, a request for assistance is a request to the government of the receiving country to secure that \u2014 (a) any person is prohibited from dealing with realisable property; and (b) realisable property is realised and the proceeds are applied in accordance with the law of the receiving country. (4) A request for assistance may be not made for the purposes of this section in a case where a confiscation order has been made and has been satisfied, discharged or quashed. (5) Where the Governor believes it is appropriate to do so that person may forward the request for assistance to the government of the receiving country. (6) Where property is realised in pursuance of a request under subsection (3) the amount ordered to be paid under the confiscation order shall be taken to be reduced by an amount equal to the proceeds of realisation. (7) A certificate purporting to be issued by or on behalf of the requested government is admissible as evidence of the facts it states if it states \u2014 (a) that property has been realised in pursuance of a request under subsection (3); (b) the date of realisation; and (c) the proceeds of realisation. (8) If the proceeds of realisation made in pursuance of a request under subsection (3) are expressed in a currency other than Cayman Islands dollars, they shall be taken to be the Cayman Islands dollar equivalent calculated in accordance with the rate of exchange prevailing at the end of the day of realisation. Proceeds of Crime Act (2025 Revision) Interpretation\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_68\", \"num\": \"68.\", \"text\": \"Criminal lifestyle 68. (1) A defendant has a criminal lifestyle only if the offence or any of the offences taken into account by the court satisfies any of these tests \u2014 (a) it is specified in Schedule 1; (b) it constitutes conduct forming part of a course of criminal activity; or (c) it is an offence committed over a period of at least six months and the defendant has benefited from the conduct which constitutes the offence. (2) Conduct forms part of a course of criminal activity if the defendant has benefited from the conduct and \u2014 (a) in the proceedings in which that person was convicted that person was convicted of three or more other offences, each of three or more of them constituting conduct from which that person has benefited; or (b) in the period of six years ending with the day when those proceedings were started (or, if there is more than one such day, the earliest day) that person was convicted on at least two separate occasions of an offence constituting conduct from which that person has benefited. (3) An offence does not satisfy the test in subsection (1)(b) or (c) unless the defendant obtains relevant benefit of not less than five thousand dollars. (4) \u201cRelevant benefit\u201d for the purposes of subsection (1)(b) is \u2014 (a) benefit from conduct which constitutes the offence; (b) benefit from any other conduct which forms part of the course of criminal activity and which constitutes an offence of which the defendant has been convicted; or (c) benefit from conduct which constitutes an offence which has been or will be taken into consideration by the court in sentencing the defendant for an offence mentioned in paragraph (a) or (b). (5) \u201cRelevant benefit\u201d for the purposes of subsection (1)(c) is \u2014 (a) benefit from conduct which constitutes the offence; or (b) benefit from conduct which constitutes an offence which has been or will be taken into consideration by the court in sentencing the defendant for the offence mentioned in paragraph (a). (6) The Cabinet may by order amend Schedule 1 and vary the amount for the time being specified in subsection (3).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_69\", \"num\": \"69.\", \"text\": \"Conduct and benefit 69. (1) Criminal conduct is conduct which \u2014 Proceeds of Crime Act (2025 Revision) (a) constitutes an offence in the Islands; or (b) would constitute such an offence if it occurred in the Islands. (2) General criminal conduct of the defendant is all of that person\u2019s criminal conduct, and it is immaterial \u2014 (a) whether conduct occurred before or after the commencement of this Act; and (b) whether property constituting a benefit from conduct was obtained before or after the passing of this Act. (3) Particular criminal conduct of the defendant is all of that person\u2019s criminal conduct which falls within the following paragraphs \u2014 (a) conduct which constitutes the offence or offences concerned; (b) conduct which constitutes offences of which that person was convicted in the same proceedings as those in which that person was convicted of the offence or offences concerned; or (c) conduct which constitutes offences which the court will be taking into consideration in deciding that person\u2019s sentence for the offence or offences concerned. (4) A person benefits from conduct if that person obtains property as a result of or in connection with the conduct. (5) Where a person obtains a pecuniary advantage as a result of or in connection with conduct, that person is to be taken to obtain as a result of or in connection with the conduct a sum of money equal to the value of the pecuniary advantage. (6) References to property or a pecuniary advantage obtained in connection with conduct include references to property or a pecuniary advantage obtained both in that connection and some other connection. (7) Where a person benefits from conduct that person\u2019s benefit is the value of the property obtained.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_70\", \"num\": \"70.\", \"text\": \"Tainted gifts 70. (1) Whether or not a court has made a decision that a defendant has a criminal lifestyle a gift is tainted if \u2014 (a) it was made by the defendant at any time after the relevant day; or (b) if it was made by the defendant at any time and was of property \u2014 (i) which was obtained by the defendant as a result of or in connection with that person\u2019s general criminal conduct; or (ii) which, in whole or part and whether directly or indirectly, represented in the defendant\u2019s hands property obtained by that person as a result of or in connection with that person\u2019s general criminal conduct. Proceeds of Crime Act (2025 Revision) (2) Where a court has decided that the defendant does not have a criminal lifestyle a gift is considered to be tainted if it was made by the defendant at any time after \u2014 (a) the date on which the offence concerned was committed; or (b) if that person\u2019s particular criminal conduct consists of two or more offences and they were committed on different dates, the date of the earliest. (3) For the purposes of subsection (2) \u2014 (a) an offence which is a continuing offence is committed on the first occasion when it began to be committed; and (b) the defendant\u2019s particular criminal conduct includes any conduct which constitutes offences which the court has taken into consideration in deciding that person\u2019s sentence for the offence or offences concerned. (4) A gift may be a tainted gift whether it was made before or after the 30th September, 2008, the commencement date of the Proceeds of Crime Law, 2008 [Law 10 of 2008]. (5) The relevant day is the first day of the period of six years ending with \u2014 (a) the day when proceedings for the offence concerned were started against the defendant; or (b) if there are two or more offences and proceedings for them were started on different days, the earliest of those days.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_71\", \"num\": \"71.\", \"text\": \"Gifts and their recipients 71. (1) Where the defendant transfers property to another person for a consideration whose value is significantly less than the value of the property at the time of the transfer, the defendant shall be treated as making a gift. (2) Where subsection (1) applies the property given is to be treated as such share in the property transferred as is represented by the fraction \u2014 (a) whose numerator is the difference between the two values mentioned in subsection (1); and (b) whose denominator is the value of the property at the time of the transfer. (3) References to a recipient of a tainted gift are to a person to whom the defendant has made the gift.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_72\", \"num\": \"72.\", \"text\": \"Value: the basic rule 72. Subject to sections 73 and 74, for the purposes of this Act the value of property (other than cash) in relation to any person holding the property \u2014 (a) where any other person holds an interest in the property, is \u2014 Proceeds of Crime Act (2025 Revision) (i) the market value of the first-mentioned person\u2019s beneficial interest in the property; less (ii) the amount required to discharge any encumbrance (other than a charging order under section 12 of the prior Law on that interest); and (b) in any other case, its market value.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_73\", \"num\": \"73.\", \"text\": \"Value of property obtained from conduct 73. (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 that person\u2019s 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 \u2014 (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 \u2014 (a) if the person holds the property obtained, the property found under this subsection is that property; (b) if that person holds no part of the property obtained, the property found under this subsection is any property which directly or indirectly represents such property in that person\u2019s hands; or (c) if that person 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 that person\u2019s hands. (4) The references in subsection (2)(a) and (b) to the value are to the value found in accordance with section 72.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_74\", \"num\": \"74.\", \"text\": \"Value of tainted gifts 74. (1) The value at any time (\u201cthe material time\u201d) of a tainted gift is the greater of the following \u2014 (a) the value at the time of the gift of the property given, adjusted to take account of later changes in the value of money; and (b) where subsection (2) applies, the value (at the material time) of the property there mentioned. (2) The property referred to under subsection (1) is as follows \u2014 (a) the property which the recipient received (not being cash); or (b) property which, in whole or in part, directly or indirectly represents in the recipient\u2019s hands the property which that person received. Proceeds of Crime Act (2025 Revision) (3) The references in subsection (1)(a) and (b) to the value are to the value found in accordance with section 72.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_75\", \"num\": \"75.\", \"text\": \"Free property 75. For the purposes of this Act property is free unless an order is in force in respect of it under \u2014 (a) section 29 of the Misuse of Drugs Act (2017 Revision); (b) section 28 of the Terrorism Act (2018 Revision) (forfeiture orders); and (c) section 87, 96 or 118(2) of this Act.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_76\", \"num\": \"76.\", \"text\": \"Realisable property and other property 76. (1) For the purposes of this Act, realisable property is any free property held by the defendant and any free property held by the recipient of a tainted gift. (2) Property is all property wherever situated and includes \u2014 (a) money; (b) all forms of real or personal property; (c) things in action and other intangible or incorporeal property. (3) The following rules apply in relation to property \u2014 (a) property is held by a person if that person holds an interest in it; (b) property is obtained by a person if that person obtains an interest in it; (c) property is transferred by one person to another if the first one transfers or grants an interest in it to the second; (d) references to property held by a person include references to property vested in that person in bankruptcy, permanent or interim, or as liquidator; (e) references to an interest held by a person beneficially in property include references to an interest which would be held by that person beneficially if the property were not so vested; (f) references to an interest, in relation to land in the Islands, are to any legal estate or equitable interest or power; and (g) references to an interest, in relation to property other than land, include references to a right (including a right to possession). Proceeds of Crime Act (2025 Revision) Part 4 - Civil Recovery of the Proceeds, Etc., of Unlawful Conduct INTRODUCTORY\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_77\", \"num\": \"77.\", \"text\": \"General purpose of this Part 77. (1) This Part has effect for the purposes of \u2014 (a) enabling the Director of Public Prosecutions to recover, in civil proceedings before the court, property which is, or represents, property obtained through unlawful conduct; and (b) enabling cash which is, or represents, property obtained through unlawful conduct, or which is intended to be used in unlawful conduct, to be forfeited in civil proceedings before a summary court. (2) The powers conferred by this Part are exercisable in relation to any property (including cash) whether or not any proceedings have been brought for an offence in connection with the property.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_78\", \"num\": \"78.\", \"text\": \"Unlawful conduct 78. (1) Conduct occurring in any part of the Islands is unlawful conduct if it is unlawful under the criminal laws of the Islands. (2) Conduct which \u2014 (a) occurs in a country outside the Islands and is unlawful under the criminal law of that country; and (b) if it occurred in the Islands, would be unlawful under the criminal law of the Islands, is also unlawful conduct. (3) The court shall decide on a balance of probabilities whether it is proved \u2014 (a) that any matters alleged to constitute unlawful conduct have occurred; or (b) that any person intended to use any cash in unlawful conduct.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_79\", \"num\": \"79.\", \"text\": \"Property obtained through unlawful conduct 79. (1) A person obtains property through unlawful conduct whether that person\u2019s own conduct or another\u2019s if that person obtains property by or in return for the conduct. (2) In deciding whether any property was obtained through unlawful conduct \u2014 (a) it is immaterial whether or not any money, goods or services were provided in order to put the person in question in a position to carry out the conduct; and Proceeds of Crime Act (2025 Revision) (b) it is not necessary to show that the conduct was of a particular kind if it is shown that \u2014 (i) the property was obtained through conduct of a specific kind or kinds, and that conduct of that kind or those kinds is unlawful conduct; or (ii) the circumstances in which the property was handled are such as to give rise to the irresistible inference that it can only be derived from unlawful conduct. Proceedings for recovery orders\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_80\", \"num\": \"80.\", \"text\": \"Proceedings for recovery orders in the Islands 80. (1) Proceedings for a recovery order may be taken by the Director of Public Prosecutions in the Grand Court against any person whom the Director of Public Prosecutions thinks holds recoverable property, being property defined in sections 123 to 129. (2) The Director of Public Prosecutions shall serve the application \u2014 (a) on the respondent; and (b) unless the court dispenses with service, on any other person whom the Director of Public Prosecutions thinks holds any associated property which the Director of Public Prosecutions wishes to be subject to a recovery order, wherever domiciled, resident or present in the Islands. (3) Where any property which the Director of Public Prosecutions wishes to be subject to a recovery order is not specified in the application it shall be described in the application in general terms and the application shall state whether it is alleged to be recoverable property or associated property. (4) The references in this section to the application include the particulars of claim, where they are served subsequently.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_81\", \"num\": \"81.\", \"text\": \"Associated property 81. (1) For the purposes of this Act, \u201cassociated property\u201d means property of any of the following descriptions, including property held by the respondent, which is not itself the recoverable property \u2014 (a) any interest in the recoverable property; (b) any other interest in the property in which the recoverable property subsists; (c) if the recoverable property is a tenancy in common, the tenancy of the other tenant; and Proceeds of Crime Act (2025 Revision) (d) if the recoverable property is part of a larger property, but not a separate part, the remainder of that property. (2) References to property being associated with recoverable property are to be read accordingly. Property freezing orders\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_82\", \"num\": \"82.\", \"text\": \"Application for property freezing order 82. (1) Where the Director of Public Prosecutions may take proceedings for a recovery order in the Grand Court, that Director of Public Prosecutions may apply to the court for a property freezing order (whether before or after starting the proceedings). (2) A property freezing order is an order that \u2014 (a) specifies or describes the property to which it applies; and (b) subject to any exclusions (see section 84(1)(b) and (2)), prohibits any person to whose property the order applies from in any way dealing with the property. (3) An application for a property freezing order may be made ex parte if the circumstances are such that notice of the application would prejudice any right of the Director of Public Prosecutions to obtain a recovery order in respect of any property. (4) The court may make a property freezing order on an application if it is satisfied that the condition in paragraph (a) is met and, where applicable, that the condition in paragraph (b) is met, that is to say \u2014 (a) the first condition is that there is a good arguable case \u2014 (i) that the property to which the application for the order relates is or includes recoverable property; and (ii) that, if any of it is not recoverable property, it is associated property; and (b) the second condition is that if \u2014 (i) the property to which the application for the order relates includes property alleged to be associated property; and (ii) the Director of Public Prosecutions has not established the identity of the person who holds it, the Director of Public Prosecutions has taken all reasonable steps to do so.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_83\", \"num\": \"83.\", \"text\": \"Variation and setting aside of order 83. (1) The court may at any time vary or set aside a property freezing order. Proceeds of Crime Act (2025 Revision) (2) If the court makes an interim receiving order that applies to all of the property to which a property freezing order applies, it shall set aside the property freezing order. (3) If the court makes an interim receiving order that applies to some but not all of the property to which a property freezing order applies, it shall vary the property freezing order so as to exclude any property to which the interim receiving order applies. (4) If the court decides that any property to which a property freezing order applies is neither recoverable property nor associated property, it shall vary the order so as to exclude the property. (5) Before exercising power under this Part to vary or set aside a property freezing order, the court shall (as well as giving the parties to the proceedings an opportunity to be heard) give such an opportunity to any person who may be affected by its decision. (6) Subsection (5) does not apply where the court is acting as required by subsection (2) or (3).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_84\", \"num\": \"84.\", \"text\": \"Exclusions 84. (1) The power to vary a property freezing order includes (in particular) power to make exclusions as follows \u2014 (a) power to exclude property from the order; and (b) power, otherwise than by excluding property from the order, to make exclusions from the prohibition on dealing with the property to which the order applies. (2) Exclusions from the prohibition on dealing with the property to which the order applies (other than exclusions of property from the order) may also be made when the order is made. (3) An exclusion may, in particular, make provision for the purpose of enabling any person \u2014 (a) to meet that person\u2019s reasonable living expenses; or (b) to carry on any trade, business, profession or occupation. (4) An exclusion may be made subject to conditions. (5) If excluded property is not specified in the order it shall be described in the order in general terms. (6) The power to make exclusions shall, subject to subsection (5), be exercised with a view to ensuring, so far as practicable, that the satisfaction of any right of the Director of Public Prosecutions to recover the property obtained through unlawful conduct is not unduly prejudiced. Proceeds of Crime Act (2025 Revision) (7) Subsection (6) does not apply where the court is acting as required by section 83(3) or (4).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_85\", \"num\": \"85.\", \"text\": \"Restriction on proceedings and remedies 85. (1) While a property freezing order has effect \u2014 (a) the court may stay any action, execution or other legal process in respect of the property to which the order applies; and (b) no distress may be levied against the property to which the order applies except with the leave of the court and subject to any terms the court may impose. (2) If a court (whether the Grand Court or any other court) in which proceedings are pending in respect of any property is satisfied that a property freezing order has been applied for or made in respect of the property, it may either stay the proceedings or allow them to continue on any terms it thinks fit. (3) If a property freezing order applies to a tenancy of any premises, no landlord or other person to whom rent is payable may exercise the right of forfeiture by peaceable re-entry in relation to the premises in respect of any failure by the tenant to comply with any term or condition of the tenancy, except with the leave of the court and subject to any terms the court may impose. (4) Before exercising any power conferred by this section, the court shall (as well as giving the parties to any of the proceedings concerned an opportunity to be heard) give such an opportunity to any person who may be affected by the court\u2019s decision. Official Receiver\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_86\", \"num\": \"86.\", \"text\": \"Official Receiver 86. (1) In exercise of the powers contained in the Public Service Management Act (2018 Revision) but subject to subsection (2), there shall be appointed in the Ministry of Finance and Economic Development an Official Receiver who shall perform such functions as may be specified under this Act but otherwise be governed by that Act. (2) Before making the appointment referred to in subsection (1) the appointing officer shall consult the Deputy Governor, Director of Public Prosecutions and Financial Secretary in relation to the identity of the person to be appointed. (3) Wherever under this Act reference is made to a receivership ordered by a court, such receivership shall be read and construed as a receivership to be performed by the Official Receiver but where, in the opinion of the Official Receiver, it is inexpedient for the Official Receiver to perform that role in a particular case or class of cases, the Official Receiver shall notify the court and the court may appoint a receiver from the private sector. Proceeds of Crime Act (2025 Revision) (4) Where a receiver from the private sector is so appointed, that receiver shall have all the powers, duties and obligations of the Official Receiver as are set out in this Act and which are consistent with that receiver\u2019s private-sector status. Interim receiving orders\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_87\", \"num\": \"87.\", \"text\": \"Application for interim receiving order 87. (1) Where the Director of Public Prosecutions intends to take proceedings for a recovery order in the Grand Court, the Director of Public Prosecutions may apply to the court for an interim receiving order, whether before or after starting the proceedings. (2) An interim receiving order is an order for \u2014 (a) the detention, custody or preservation of property; and (b) its placing under the Official Receiver on an interim basis. (3) An application for an interim receiving order may be made ex parte if the circumstances are such that notice of the application would prejudice any right of the Director of Public Prosecutions to obtain a recovery order in respect of any property. (4) The court may make an interim receiving order on the application by the Director of Public Prosecutions if it is satisfied that the following conditions in paragraph (a) and, where applicable, (b) are met \u2014 (a) there is a good arguable case \u2014 (i) that the property to which the application for the order relates is or includes recoverable property; and (ii) that, if any of it is not recoverable property, it is associated property; and (b) if \u2014 (i) the property to which the application for the order relates includes property alleged to be associated property; and (ii) the Director of Public Prosecutions has not established the identity of the person who holds it, the Director of Public Prosecutions has taken all reasonable steps to do so. (5) The extent of the power to make an interim receiving order is not limited by sections 88 to 94.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_88\", \"num\": \"88.\", \"text\": \"Powers of Official Receiver during an interim receiving order 88. (1) An interim receiving order may authorise or require the Official Receiver \u2014 (a) to exercise any of the powers mentioned in Schedule 2; or (b) to take any other steps the court thinks appropriate, Proceeds of Crime Act (2025 Revision) for the purpose of securing the detention, custody or preservation of the property to which the order applies or of taking any steps under subsection (2). (2) An interim receiving order shall require the Official Receiver to take any steps which the court thinks necessary to establish \u2014 (a) whether or not the property to which the order applies is recoverable property or associated property; and (b) whether or not any other property is recoverable property, in relation to the same unlawful conduct, and, if it is, who holds it. (3) Where \u2014 (a) the Official Receiver deals with any property which is not property to which the order applies; and (b) at the time that the Official Receiver deals with the property the Official Receiver believes on reasonable grounds that the Official Receiver is entitled to do so in pursuance of the order, the Official Receiver is not liable to any person in respect of any loss or damage resulting from the Official Receiver\u2019s dealing with the property except so far as the loss or damage is caused by the Official Receiver\u2019s negligence.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_89\", \"num\": \"89.\", \"text\": \"Registration 89. The Registered Land Act (2018 Revision) \u2014 (a) applies in relation to interim receiving orders as it applies in relation to orders which affect land and are made by the court for the purpose of enforcing judgments or recognizances; and (b) applies in relation to applications for interim receiving orders as it applies in relation to other pending land actions.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_90\", \"num\": \"90.\", \"text\": \"Duties of respondent, etc 90. (1) An interim receiving order may require any person to whose property the order applies \u2014 (a) to bring the property to a place in the Islands specified by the Official Receiver or to place it in the custody of the Official Receiver (if, in either case, that person is able to do so); and (b) to do anything that person is reasonably required to do by the Official Receiver for the preservation of the property. (2) An interim receiving order may require any person to whose property the order applies to bring any documents relating to the property which are in that person\u2019s possession or control to a place in the Islands specified by the Official Receiver or to place them in the custody of the Official Receiver. Proceeds of Crime Act (2025 Revision) (3) \u201cdocument\u201d means anything in which information of any description is recorded.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_91\", \"num\": \"91.\", \"text\": \"Supervision of Official Receiver and variation of order 91. (1) The Official Receiver, any party to the proceedings and any person affected by any action taken by the Official Receiver, or who may be affected by any action proposed to be taken by that person, may at any time apply to the court for directions as to the exercise of the Official Receiver\u2019s functions. (2) Before giving any directions under subsection (1), the court shall (as well as giving the parties to the proceedings an opportunity to be heard) give such an opportunity to the Official Receiver and to any person who may be interested in the application. (3) The court may at any time vary or set aside an interim receiving order.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_92\", \"num\": \"92.\", \"text\": \"Restrictions on dealing, etc., with property 92. (1) An interim receiving order shall, subject to any exclusions made in accordance with this section, prohibit any person to whose property the order applies from dealing with the property. (2) Exclusions may be made when the interim receiving order is made or on an application to vary the order and before exercising any power under this Part to vary or set aside an interim receiving order, the court shall (as well as giving the parties to the proceedings an opportunity to be heard) give such an opportunity to the Official Receiver and to any person who may be affected by the court\u2019s decision. (3) An exclusion may, in particular, make provision for the purpose of enabling any person to meet that person\u2019s reasonable living expenses or to carry on any trade, business, profession or occupation and may be made subject to conditions. (4) An exclusion may not be made for the purpose of enabling any person to meet any legal expenses in respect of proceedings under this Part. (5) Where the excluded property is not specified in the order it shall be described in the order in general terms. (6) The power to make exclusions shall be exercised with a view to ensuring, so far as practicable, that the satisfaction of any right of the Director of Public Prosecutions to recover the property obtained through unlawful conduct is not unduly prejudiced.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_93\", \"num\": \"93.\", \"text\": \"Restriction on proceedings and remedies 93. (1) While an interim receiving order has effect \u2014 (a) the court may stay any action, execution or other legal process in respect of the property to which the order applies; and Proceeds of Crime Act (2025 Revision) (b) no distress may be levied against the property to which the order applies except with the leave of the court and subject to any terms the court may impose. (2) Where a court (whether the Grand Court or any other court) in which proceedings are pending in respect of any property is satisfied that an interim receiving order has been applied for or made in respect of the property, the court may either stay the proceedings or allow them to continue on any terms it thinks fit. (3) Where the interim receiving order applies to a tenancy of any premises, no landlord or other person to whom rent is payable may exercise any right of forfeiture by peaceable re-entry in relation to the premises in respect of any failure by the tenant to comply with any term or condition of the tenancy, except with the leave of the court and subject to any terms the court may impose. (4) Before exercising any power conferred by this section, the court shall (as well as giving the parties to any of the proceedings in question an opportunity to be heard) give such an opportunity to the Official Receiver (if appointed) and any person who may be affected by the court\u2019s decision.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_94\", \"num\": \"94.\", \"text\": \"Exclusion of property which is not recoverable, etc. 94. (1) Where the court decides that any property to which an interim receiving order applies is neither recoverable property nor associated property, it shall vary the order so as to exclude it. (2) The court may vary an interim receiving order so as to exclude from the property to which the order applies any property which is alleged to be associated property if the court thinks that the satisfaction of any right of the Director of Public Prosecutions to recover the property obtained through unlawful conduct will not be prejudiced. (3) The court may exclude any property within subsection (2) on any terms or conditions applying while the interim receiving order has effect, which the court thinks necessary.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_95\", \"num\": \"95.\", \"text\": \"Reporting 95. (1) An interim receiving order shall require the Official Receiver to inform the Director of Public Prosecutions and the court as soon as reasonably practicable if that Official Receiver thinks that \u2014 (a) any property to which the order applies by virtue of a claim that it is recoverable property is not recoverable property; (b) any property to which the order applies by virtue of a claim that it is associated property is not associated property; (c) any property to which the order does not apply is recoverable property (in relation to the same unlawful conduct) or associated property; Proceeds of Crime Act (2025 Revision) (d) any property to which the order applies is held by a person who is different from the person it is claimed holds it; or (e) there has been any material change of circumstances. (2) An interim receiving order shall require the Official Receiver \u2014 (a) to report that Official Receiver\u2019s findings to the court; and (b) to serve copies of that Official Receiver\u2019s report on the Director of Public Prosecutions and on any person who holds any property to which the order applies or who may otherwise be affected by the report. Vesting and realisation of recoverable property\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_96\", \"num\": \"96.\", \"text\": \"Recovery orders 96. (1) Where in proceedings under this Part the court is satisfied that any property is recoverable, the court shall make a recovery order. (2) The recovery order shall vest the recoverable property in the trustee for civil recovery. (3) The court may not make in a recovery order any provision in respect of any recoverable property if each of the conditions in subsection (4) is met and it would not be just and equitable to do so. (4) The conditions referred to in subsection (3) are that \u2014 (a) the respondent obtained the recoverable property in good faith; (b) the respondent took steps after obtaining the property which that person would not have taken if that person had not obtained it or that person took steps before obtaining the property which that person would not have taken if that person had not believed that person was going to obtain it; (c) when that person took the steps, that person had no notice that the property was recoverable; and (d) if a recovery order were made in respect of the property, it would, by reason of the steps, be detrimental to that person. (5) In deciding whether it would be just and equitable to make the provision in the recovery order where the conditions in subsection (4) are met, the court shall have regard to \u2014 (a) the degree of detriment that would be suffered by the respondent if the provision were made; and (b) the Director of Public Prosecutions\u2019 interest in receiving the realised proceeds of the recoverable property. (6) A recovery order may sever any property and may impose conditions as to the manner in which the civil recovery may deal with any property vested by the order for the purpose of realising it. Proceeds of Crime Act (2025 Revision) (7) This section is subject to sections 99 to 103.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_97\", \"num\": \"97.\", \"text\": \"Powers of the trustee for civil recovery 97. (1) The trustee for civil recovery shall be the Official Receiver appointed under this Act. (2) The functions of the trustee are \u2014 (a) to secure the detention, custody or preservation of any property vested in that trustee by the recovery order; (b) in the case of property other than money, to realise the value of the property for the benefit of the Accountant General; and (c) to perform any other functions conferred on that trustee by virtue of this Part. (3) In performing that trustee\u2019s functions, the trustee acts on behalf of the Accountant General and shall comply with any directions given by the Accountant General. (4) The trustee shall realise the value of property vested in that trustee by the recovery order, so far as practicable, in the manner best calculated to maximise the amount payable to the Accountant General. (5) The trustee has the powers mentioned in Schedule 3. (6) References in this section to a recovery order include an order under section 102 and references to property vested in the trustee by a recovery order include property vested in that trustee in pursuance of an order under section 102.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_98\", \"num\": \"98.\", \"text\": \"Rights of pre-emption, etc. 98. (1) A recovery order shall have effect in relation to any property despite any provision (of whatever nature) which would otherwise prevent, penalise or restrict the vesting of the property. (2) A right of pre-emption, right of return or other similar right does not operate or become exercisable as a result of the vesting of any property under a recovery order. (3) A right of return means any right under a provision for the return or reversion of property in specified circumstances. (4) Where property is vested under a recovery order, any such right shall have effect as if the person in whom the property is vested were the same person in law as the person who held the property and as if no transfer of the property had taken place. (5) References to rights in subsections (2) and (3) do not include any rights in respect of which the recovery order was made. Proceeds of Crime Act (2025 Revision) (6) This section applies in relation to the creation of interests, or the doing of anything else, by a recovery order as it applies in relation to the vesting of property.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_99\", \"num\": \"99.\", \"text\": \"Associated and joint property 99. (1) Sections 100 and 101 apply if the court makes a recovery order in respect of any recoverable property in a case where \u2014 (a) the property to which the proceedings relate includes property which is associated with the recoverable property and is specified or described in the application; and (b) if the associated property is not the respondent\u2019s property, the claim form or application has been served on the person whose property it is or the court has dispensed with service; or (c) the recoverable property belongs to joint tenants and one of the tenants is an excepted joint owner. (2) An \u201cexcepted joint owner\u201d is a person who obtained the property in circumstances in which it would not be recoverable as against that person; and references to the excepted joint owner\u2019s share of the recoverable property are to so much of the recoverable property as would have been that person\u2019s if the joint tenancy had been severed.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_100\", \"num\": \"100.\", \"text\": \"Agreements about associated and joint property 100. (1) Where this section applies, and the Director of Public Prosecutions and the person who holds the associated property or who is the excepted joint owner agree, the recovery order may, instead of vesting the recoverable property in the trustee for civil recovery, require the person who holds the associated property or who is the excepted joint owner to make a payment to the trustee. (2) A recovery order which makes any requirement under subsection (1) may, so far as required for giving effect to the agreement, include provision for vesting, creating or extinguishing any interest in the property. (3) The amount of the payment shall be the amount which the Director of Public Prosecutions and that person agree, represents \u2014 (a) in a case within section 99(1)(a) and (b), the value of the recoverable property; (b) in a case within section 99(1)(c), the value of the recoverable property less the value of the excepted joint owner\u2019s share. (4) Notwithstanding subsection (3), if \u2014 (a) an interim receiving order applied at any time to the associated property or joint tenancy; and Proceeds of Crime Act (2025 Revision) (b) the Director of Public Prosecutions agrees that the person has suffered loss as a result of the interim receiving order, the amount of the payment may be reduced by any amount the Director of Public Prosecutions and that person agree is reasonable, having regard to that loss and to any other relevant circumstances. (5) Where there is more than one such item of associated property or excepted joint owner, the total amount to be paid to the trustee, and the part of that amount which is to be provided by each person who holds any such associated property or who is an excepted joint owner, shall be agreed between both, or all of them and the Director of Public Prosecutions. (6) A recovery order which makes any requirement under subsection (1) shall make provision for any recoverable property to cease to be recoverable.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_101\", \"num\": \"101.\", \"text\": \"Associated and joint property: default of agreement 101. (1) Where there is no agreement under section 100 and the court thinks it is equitable and just to do so it may make a recovery order which provides \u2014 (a) for the associated property to vest in the trustee for civil recovery or, as the case may be, for the excepted joint owner\u2019s interest to be extinguished; or (b) in the case of an excepted joint owner, for the severance of that person\u2019s interest. (2) A recovery order making any provision by virtue of subsection (1)(a) may provide \u2014 (a) for the trustee to pay an amount to the person who holds the associated property or who is an excepted joint owner; or (b) for the creation of interests in favour of that person, or the imposition of liabilities or conditions, in relation to the property vested in the trustee, or for both. (3) In making any provision in a recovery order by virtue of subsection (1) or (2), the court shall have regard to \u2014 (a) the rights of any person who holds the associated property or who is an excepted joint owner and the value to that person of that property or, as the case may be, of that person\u2019s share (including any value which cannot be assessed in terms of money); and (b) the interest of the Director of Public Prosecutions in receiving the realised proceeds of the recoverable property. (4) Where \u2014 (a) an interim receiving order applied at any time to the associated property or joint tenancy; and Proceeds of Crime Act (2025 Revision) (b) the court is satisfied that the person who holds the associated property or who is an excepted joint owner has suffered loss as a result of the interim receiving order, a recovery order making any provision by virtue of subsection (1) or (2) may require the Director of Public Prosecutions to pay compensation to that person. (5) The amount of compensation to be paid under subsection (4) is the amount the court thinks reasonable, having regard to the person\u2019s loss and to any other relevant circumstances.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_102\", \"num\": \"102.\", \"text\": \"Consent orders 102. (1) The court may make an order staying any proceedings for a recovery order on terms agreed by the parties for the disposal of the proceedings if each person to whose property the proceedings or the agreement relates is a party both to the proceedings and the agreement. (2) An order under subsection (1) may, as well as staying the proceedings on terms \u2014 (a) make provision for any property which may be recoverable property to cease to be recoverable; and (b) make any further provision which the court thinks appropriate.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_103\", \"num\": \"103.\", \"text\": \"Limit on recovery 103. (1) Where the Director of Public Prosecutions seeks a recovery order of any kind, the court shall not make a recovery order if it thinks that the Director of Public Prosecutions\u2019 right to recover property which is the original property or represents such property has been fully satisfied by a previous recovery order or order under section 102. (2) Where that right has not been fully satisfied the court may, to the extent required, make a recovery order in respect of \u2014 (a) only some of the related items of property; or (b) only a part of the related items of property.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_104\", \"num\": \"104.\", \"text\": \"Section 103: supplementary 104. (1) Where \u2014 (a) there is a disposal, other than a part disposal, of the original property; and (b) other property (the representative property) is obtained in its place, the Director of Public Prosecutions\u2019 right to recover the original property is satisfied by the making of a recovery order in respect of either the original property or the representative property. (2) Where \u2014 Proceeds of Crime Act (2025 Revision) (a) there is a part disposal of the original property; and (b) other property (\u201cthe representative property\u201d) is obtained in place of the property disposed of, the Director of Public Prosecutions\u2019 right to recover the original property is satisfied by the making of a recovery order in respect of the remainder of the original property together with either the representative property or the property disposed of. (3) In this section \u2014 (a) a \u201cpart disposal\u201d means a disposal to which section 132(1) applies; and (b) the \u201coriginal property\u201d has the same meaning as in section 124.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_105\", \"num\": \"105.\", \"text\": \"Applying realised proceeds 105. (1) This section applies to \u2014 (a) sums which represent the realised proceeds of property which was vested in the trustee for civil recovery by a recovery order or which that person obtained in pursuance of a recovery order; and (b) sums vested in the trustee by a recovery order or obtained by that person in pursuance of a recovery order. (2) The trustee shall, out of the sums referred to under subsection (1) \u2014 (a) firstly, make any payment required to be made by that person by virtue of section 100; and (b) secondly, pay any expenses incurred by a person acting as an insolvency practitioner which are payable in accordance with this Act, and any sum which remains shall be paid to the Accountant General for the revenue of the Islands. (3) This section applies to property vested in the trustee for civil recovery, or money paid to that person, in pursuance of the agreement as it applies to property vested in that person by a recovery order or money paid under section 100. Exemptions, etc.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_106\", \"num\": \"106.\", \"text\": \"Victims of theft, etc. 106. (1) In proceedings for a recovery order, a person who claims that any property alleged to be recoverable property, or any part of the property, belongs to that person may apply for a declaration under this section. (2) Where the court finds that \u2014 (a) the person was deprived of the property that person claims, or of property which it represents, by unlawful conduct; Proceeds of Crime Act (2025 Revision) (b) the property that person was deprived of was not recoverable property immediately before that person was deprived of it; and (c) the property that person claims belongs to that person, the court may make a declaration under this section. (3) Property to which a declaration under this section applies is not recoverable property.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_107\", \"num\": \"107.\", \"text\": \"Other exemptions 107. Proceedings for a recovery order may not be taken \u2014 (a) against any person in circumstances of a description prescribed by regulations; and the circumstances may relate to the person themselves or to the property or to any other matter; (b) in respect of cash found at any place in the Islands unless the proceedings are also taken in respect of property other than cash which is property of the same person; (c) in respect of any property which are the assets intended as security for financial markets; or (d) against any person in respect of any recoverable property which that person holds by reason of that person\u2019s acting, or having acted, as an insolvency practitioner. Miscellaneous\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_108\", \"num\": \"108.\", \"text\": \"Compensation 108. (1) Where, in the case of any property to which an interim receiving order has at any time applied, the court does not in the course of the proceedings decide that the property is recoverable property or associated property, the person whose property it is may make an application to the court for compensation. (2) Subsection (1) does not apply if the court \u2014 (a) has made a declaration in respect of the property by virtue of section 106; or (b) makes an order under section 102. (3) Where the court has made a decision by reason of which no recovery order could be made in respect of the property, the application for compensation shall be made within the period of three months beginning with the date of the decision or, if any application is made for leave to appeal, within the date on which the application is withdrawn or refused or (if the application is granted) the date on which any proceedings on appeal are finally concluded. Proceeds of Crime Act (2025 Revision) (4) If the proceedings in respect of the property have been discontinued, the application for compensation shall be made within the period of three months beginning with the discontinuance. (5) Where the court is satisfied that the applicant has suffered loss as a result of the interim receiving order, it may require the Director of Public Prosecutions to pay compensation to that person. (6) Where, but for section 98(2), any right mentioned there would have operated in favour of, or become exercisable by, any person, that person may make an application to the court for compensation. (7) The application for compensation under subsection (6) shall be made within the period of three months beginning with the vesting referred to in section 98(2). (8) Where the court is satisfied that, in consequence of the operation of section 98, the right in question cannot subsequently operate in favour of the applicant or (as the case may be) become exercisable by that person, it may require the Director of Public Prosecutions to pay compensation to that person. (9) The amount of compensation to be paid under this section is the amount the court thinks reasonable, having regard to the loss suffered and any other relevant circumstances.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_109\", \"num\": \"109.\", \"text\": \"Financial threshold 109. (1) Subject to subsection (2), at any time when an order specifying an amount for the purposes of this section has effect, the Director of Public Prosecutions may not start proceedings for a recovery order unless that person reasonably believes that the aggregate value of the recoverable property which that person wishes to be subject to a recovery order is not less than the specified amount. (2) The power to make an order under subsection (1) is exercisable by Cabinet but before that power is exercised, the threshold amount shall be ten thousand dollars. (3) If the Director of Public Prosecutions applies for an interim receiving order before starting the proceedings, subsection (1) applies to the application instead of to the start of the proceedings. (4) This section does not affect the continuation of proceedings for a recovery order which have been properly started or the making or continuing effect of an interim receiving order which has been properly applied for. Proceeds of Crime Act (2025 Revision) RECOVERY OF CASH IN SUMMARY PROCEEDINGS Searches\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_110\", \"num\": \"110.\", \"text\": \"Searches 110. (1) Where a customs officer or a constable who is lawfully on any premises has reasonable grounds for suspecting that there is on the premises cash \u2014 (a) which is recoverable property or is intended by any person for use in unlawful conduct; and (b) the amount of which is not less than the minimum amount, that customs officer or constable may search for the cash there. (2) Where a customs officer or a constable has reasonable grounds for suspecting that a person (the suspect) is carrying cash \u2014 (a) which is recoverable property or is intended by any person for use in unlawful conduct; and (b) the amount of which is not less than the minimum amount, that customs officer or constable may exercise the following powers conferred by this section. (3) The officer or constable may, so far as that person thinks it necessary or expedient, require the suspect to permit a search of any article that person has with that person, or to permit a search of that person\u2019s person. (4) An officer or constable exercising powers by virtue of subsection (3) may detain the suspect for so long as is necessary for their exercise. (5) The powers conferred by this section are exercisable only so far as reasonably required for the purpose of finding cash. (6) Cash means \u2014 (a) notes and coins in any currency; (b) postal orders; (c) cheques of any kind, including travellers cheques; (d) bankers\u2019 drafts; (e) bearer bonds and bearer shares, found at any place in the Islands. (7) For the purposes of this section \u201ccash\u201d also includes any kind of monetary instrument which is found at any place in the Islands, but the Cabinet may by an order exclude any monetary instrument from the application of this section. (7A) For the purposes of this section and Schedule 5 the words \u201cminimum amount\u201d means one thousand Cayman Islands dollars. Proceeds of Crime Act (2025 Revision) (8) This section does not require a person to submit to an intimate search or to a strip search.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_111\", \"num\": \"111.\", \"text\": \"Prior approval 111. (1) The powers conferred by section 110 may be exercised only with the approval of a judicial officer unless, in the circumstances, it is not practicable to obtain that approval before exercising the power, in which case the approval of a senior officer shall be necessary. (2) A judicial officer means a justice of the peace or a magistrate. (3) A senior officer means \u2014 (a) in relation to the exercise of the power by a constable, a constable of at least the rank of superintendent; or (b) in relation to the exercise of the powers by a customs officer, a customs officer of a rank designated by the Director of Customs and Border Control equivalent to that of a police officer of at least the rank of superintendent. (4) Where the powers are exercised without the approval of a judicial officer in a case where no cash is seized by virtue of section 114, or any cash so seized is not detained for more than 48 hours, the senior officer who exercised the powers shall give a written report to the Commissioner of Police or the Director of Customs and Border Control. (5) The report shall give particulars of the circumstances which led the officer or the constable to believe that the powers were exercisable, and it was not practicable to obtain the approval of a judicial officer.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_112\", \"num\": \"112.\", \"text\": \"Report on exercise of powers 112. (1) As soon as possible after the end of each financial year, the appointed person shall prepare a report for that year. (2) For the purposes of this section, \u201cfinancial year\u201d means \u2014 (a) the period beginning on 30th September, 2008, the commencement date of the Proceeds of Crime Law, 2008 [Law 10 of 2008], the day on which this section comes into force and ending with the next 30th June (which is the first financial year); and (b) each subsequent period of twelve months beginning with 1st July. (3) In the report the appointed person shall give that person\u2019s opinion as to the circumstances and manner in which the powers conferred by section 110 are being exercised in cases where the officer or constable who exercised them is required to give a report under section 111(3); and that person may make any recommendations that person considers appropriate. (4) The appointed person shall send a copy of that person\u2019s report to the Cabinet and it shall thereafter be published in such manner as the Cabinet determines. Proceeds of Crime Act (2025 Revision) (5) The Cabinet shall cause to be laid a copy of any report it receives under this section before the Cayman Islands Parliament. (6) In this section, the appointed person means a person appointed by the Cabinet. (7) The appointed person shall not be a public officer employed under or for the purposes of a government department.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_113\", \"num\": \"113.\", \"text\": \"Code of practice 113. (1) The Cabinet shall, upon the recommendation of the Commissioner of Police and the Director of Customs and Border Control, issue a code of practice in connection with the exercise by customs officers and constables of the powers conferred by virtue of section 110. (2) Where it proposes to issue a code of practice the Cabinet shall \u2014 (a) publish a draft; (b) consider any representations made to the Cabinet about the draft by any other person; and (c) if the Cabinet thinks it appropriate, modify the draft in the light of any such representations. (3) The Cabinet shall cause to be laid before the Cayman Islands Parliament the draft of the code. (4) After the Cabinet has laid a draft of the code before the Cayman Islands Parliament the Cabinet may bring it into operation by order. (5) The Cabinet may revise the whole or any part of the code issued by it and issue the code as revised; and subsections (2) to (4) apply to such a revised code as they apply to the original code. (6) A failure by a customs officer or a constable to comply with a provision of the code does not of itself make that person liable to criminal or civil proceedings. (7) The code is admissible in evidence in criminal or civil proceedings and shall be taken into account by a court or tribunal in any case in which it appears to the court or tribunal to be relevant. Seizure and detention\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_114\", \"num\": \"114.\", \"text\": \"Seizure of cash 114. (1) A customs officer or a constable may seize any cash if that person has reasonable grounds for suspecting that it is recoverable property or intended by any person for use in unlawful conduct. (2) A customs officer or a constable may also seize cash part of which that person has reasonable grounds for suspecting to be recoverable property or intended by any person for use in unlawful conduct if it is not reasonably practicable to seize only that part. Proceeds of Crime Act (2025 Revision) (3) After a seizure is made by a customs officer under this section, the Director of Customs and Border Control shall within thirty days of the seizure, report that seizure to the Financial Reporting Authority.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_115\", \"num\": \"115.\", \"text\": \"Detention of seized cash 115. (1) While the customs officer or constable continues to have reasonable grounds for that person\u2019s suspicion, cash seized under section 114 may be detained initially for a period of 48 hours which shall not include any Saturday or any excluded day. (2) The period for which the cash or any part of it may be detained may be extended by an order made by a summary court but the order may not authorise the detention of any of the cash \u2014 (a) beyond the end of the period of three months beginning with the date of the order; and (b) in the case of any further order under this section, beyond the end of the period of two years beginning with the date of the first order. (3) An application for an order under subsection (2) may be made by the Director of Customs and Border Control or by a constable and the summary court may make the order if satisfied, in relation to any cash to be further detained, that \u2014 (a) there are reasonable grounds for suspecting that the cash is recoverable property and that either \u2014 (i) its continued detention is justified while its derivation is further investigated or consideration is given to bringing (in the Islands or elsewhere) proceedings against any person for an offence with which the cash is connected; or (ii) proceedings against any person for an offence with which the cash is connected have been started and have not been concluded; or (b) there are reasonable grounds for suspecting that the cash is intended to be used in criminal conduct and that either \u2014 (i) its continued detention is justified while its intended use is further investigated or consideration is given to bringing (in the Islands or elsewhere) proceedings against any person for an offence with which the cash is connected; or (ii) proceedings against any person for an offence with which the cash is connected have been started and have not been concluded, and the summary court may order that cash to be detained where the Director of Public Prosecutions has applied to the court for the cash to be detained while consideration is being given to the institution of proceedings for civil recovery under section 118. Proceeds of Crime Act (2025 Revision) (4) An application for an order under subsection (2) may also be made in respect of any cash seized under section 114(2), and the summary court may make the order if satisfied that \u2014 (a) the condition in subsection (3)(a) or (b) is met in respect of part of the cash; and (b) it is not reasonably practicable to detain only that part. (5) An order under subsection (2) shall provide for notice to be given to persons affected by it.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_116\", \"num\": \"116.\", \"text\": \"Interest 116. (1) Where cash is detained under section 115 for more than 48 hours, it shall be paid at the first opportunity into an interest-bearing account and held there; and the interest accruing on it shall be added to it on its forfeiture or release. (2) In the case of cash detained under section 115 which was seized under section 114(2), the customs officer or constable shall, on paying it into the account, release the part of the cash to which the suspicion does not relate. (3) Subsection (1) does not apply if the cash or, as the case may be, the part to which the suspicion relates is required as evidence of an offence or evidence in proceedings under this Part.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_117\", \"num\": \"117.\", \"text\": \"Release of detained cash 117. (1) While any cash is detained under section 115 a summary court may direct the release of the whole or any part of the cash if the court is satisfied, on an application by the person from whom the cash was seized, that the conditions in section 118 for the detention of the cash are no longer met in relation to the cash to be released. (2) A constable or a customs officer may, after notifying the summary court under whose order cash is being detained, release the whole or any part of it if satisfied that the detention of the cash to be released is no longer justified. Forfeiture\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_118\", \"num\": \"118.\", \"text\": \"Forfeiture 118. (1) While cash is detained under section 115, an application for the forfeiture of the whole or any part of it may be made to a summary court by the Director of Public Prosecutions. (2) The court may order the forfeiture of the cash or any part of it if satisfied that the cash or part is recoverable property or that it is intended by any person for use in unlawful conduct. Proceeds of Crime Act (2025 Revision) (3) In the case of recoverable property which belongs to joint tenants, one of whom is an excepted joint owner, the order may not apply to such part of it as the court thinks is attributable to the excepted joint owner\u2019s share. (4) Where an application for the forfeiture of any cash is made under this section, the cash shall be detained and may not be released under any power conferred by this Part until any proceedings in pursuance of the application, including any proceedings on appeal, are concluded.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_119\", \"num\": \"119.\", \"text\": \"Appeal against forfeiture 119. (1) Any party to proceedings in which an order is made under section 118 for the forfeiture of cash who is aggrieved by the order may appeal to the Grand Court. (2) An appeal under subsection (1) shall be made within the period of thirty days beginning with the date on which the order is made and the appeal shall be by way of a rehearing. (3) The Grand Court may make any order it thinks appropriate and if the court upholds the appeal it may order the release of the cash.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_120\", \"num\": \"120.\", \"text\": \"Application of forfeited cash 120. Cash forfeited under this Part and any accrued interest on it shall be paid into the revenues of the Islands but it shall not to be paid in \u2014 (a) before the end of the period within which an appeal under section 119 may be made; or (b) before the appeal is determined or otherwise disposed of, if a person appeals under that section. Supplementary\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_121\", \"num\": \"121.\", \"text\": \"Victims and other owners 121. (1) A person who claims that any cash detained under this Part, or any part of it, belongs to that person may apply to a summary court for the cash or part of it to be released to that person. (2) The application may be made in the course of proceedings under section 115 or 118 or at any other time. (3) Where it appears to the court that \u2014 (a) the applicant was deprived of the cash to which the application relates, or of property which it represents, by unlawful conduct; (b) the property that person was deprived of was not, immediately before that person was deprived of it, recoverable property; and (c) that cash belongs to that person, Proceeds of Crime Act (2025 Revision) the court may order the cash to which the application relates to be released to the applicant. (4) Where \u2014 (a) the applicant is not the person from whom the cash to which the application relates was seized; (b) it appears to the court that that cash belongs to the applicant; (c) the court is satisfied that the conditions in section 115 for the detention of that cash are no longer met or, if an application has been made under section 118, the court decides not to make an order under that section in relation to that cash; and (d) no objection to the making of an order under this subsection has been made by the person from whom that cash was seized, the court may order the cash to which the application relates to be released to the applicant or to the person from whom it was seized.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_122\", \"num\": \"122.\", \"text\": \"Compensation 122. (1) Where no forfeiture order is made in respect of any cash detained under this Part, the person to whom the cash belongs or from whom it was seized may make an application to the summary court for compensation. (2) Where, for any period beginning with the first opportunity to place the cash in an interest-bearing account after the initial detention of the cash for 48 hours, the cash was not held in an interest-bearing account while detained, the court may order compensation to be paid to the applicant. (3) The amount of compensation to be paid under subsection (2) shall be the amount the court thinks would have been earned in interest in the period in question if the cash had been held in an interest-bearing account. (4) If the court is satisfied that, taking account of any interest to be paid under section 116 or any amount to be paid under subsection (2), the applicant has suffered loss as a result of the detention of the cash and that the circumstances are exceptional, the court may order compensation (or additional compensation) to be paid to that person. (5) The amount of compensation (or additional compensation) to be paid under subsection (4) shall be the amount the court thinks reasonable, having regard to the loss suffered and any other relevant circumstances. (6) The compensation shall be paid out of the revenues of the Islands. (7) If a forfeiture order is made in respect only of a part of any cash detained under this Part, this section has effect in relation to the other part. Proceeds of Crime Act (2025 Revision) GENERAL Recoverable property\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_123\", \"num\": \"123.\", \"text\": \"Property obtained through unlawful conduct 123. (1) Property obtained through unlawful conduct is recoverable property. (2) Where property obtained through unlawful conduct has been disposed of (since it was so obtained), it is recoverable property only if it is held by a person into whose hands it may be followed. (3) Recoverable property obtained through unlawful conduct may be followed into the hands of a person obtaining it on a disposal by \u2014 (a) the person who through the conduct obtained the property; or (b) a person into whose hands it may, by virtue of this subsection, be followed.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_124\", \"num\": \"124.\", \"text\": \"Tracing property, etc. 124. (1) Where property obtained through unlawful conduct (\u201cthe original property\u201d) is or has been recoverable, property which represents the original property is also recoverable property. (2) Where a person enters into a transaction by which \u2014 (a) that person disposes of recoverable property, whether the original property or property which (by virtue of this Part) represents the original property; and (b) that person obtains other property in place of it, the other property represents the original property. (3) If a person disposes of recoverable property which represents the original property, the property may be followed into the hands of the person who obtains it and such property continues to represent the original property.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_125\", \"num\": \"125.\", \"text\": \"Mixing property 125. (1) Where a person\u2019s recoverable property is mixed with other property, whether that person\u2019s property or another person\u2019s property, the portion of the mixed property which is attributable to the recoverable property represents the property obtained through unlawful conduct. (2) Recoverable property is mixed with other property if, among other things, it is used \u2014 (a) to increase funds held in an account; (b) in part payment for the acquisition of an asset; (c) for the restoration or improvement of land; or Proceeds of Crime Act (2025 Revision) (d) by a person holding a leasehold interest in the property to acquire the freehold.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_126\", \"num\": \"126.\", \"text\": \"Recoverable property: accruing profits 126. Where a person who has recoverable property obtains further property consisting of profits accruing in respect of the recoverable property the further property shall be considered as representing the property obtained through unlawful conduct.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_127\", \"num\": \"127.\", \"text\": \"General exceptions 127. (1) Where \u2014 (a) a person disposes of recoverable property; and (b) the person who obtains it on the disposal does so in good faith, for value and without notice that it was recoverable property, the property may not be followed into that person\u2019s hands and, accordingly, it ceases to be recoverable. (2) Where recoverable property is vested, forfeited or otherwise disposed of in pursuance of powers conferred by virtue of this Part, it ceases to be recoverable. (3) Where \u2014 (a) in pursuance of a judgment in civil proceedings (whether in the Islands or elsewhere), the defendant makes a payment to the claimant or the claimant otherwise obtains property from the defendant; (b) the claimant\u2019s claim is based on the defendant\u2019s unlawful conduct; and (c) apart from this subsection, the sum received, or the property obtained, by the claimant would be recoverable property, the property ceases to be recoverable. (4) Where \u2014 (a) a payment is made to a person in pursuance of a compensation order under section 33 of the Penal Code (2024 Revision); and (b) apart from this subsection, the sum received would be recoverable property, the property ceases to be recoverable. (5) Where \u2014 (a) a payment is made to a person in pursuance of a restitution order under section 23 of the Alternative Sentencing Act (2008 Revision)1 or a person otherwise obtains any property in pursuance of such an order, and (b) apart from this subsection, the sum received, or the property obtained, would be recoverable property, the property ceases to be recoverable. Proceeds of Crime Act (2025 Revision) (6) Property is not recoverable while a restraint order is in force in relation to such property under \u2014 (a) this Act; (b) the prior Law; or (c) the Misuse of Drugs Act (2017 Revision). (7) Property is not recoverable property if it has been taken into account in deciding the amount of a person\u2019s benefit from criminal conduct for the purpose of making a confiscation order under \u2014 (a) this Act; (b) the prior Law; or (c) the Misuse of Drugs Act (2017 Revision), and, in relation to an order mentioned in paragraph (b) and (c), the reference to the amount of a person\u2019s benefit from criminal conduct shall be read as a reference to the corresponding amount under the enactment in question. (8) Where \u2014 (a) a person enters into a transaction to which section 124(2) applies; and (b) the disposal is one to which subsection (1) or (2) applies, this section does not affect the recoverability (by virtue of section 124(2)) of any property obtained on the transaction in place of the property disposed of.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_128\", \"num\": \"128.\", \"text\": \"Other exemptions 128. (1) An order may provide that property is not recoverable or (as the case may be) associated property if \u2014 (a) it is prescribed property, or (b) it is disposed of in pursuance of a prescribed enactment or an enactment of a prescribed description. (2) An order may provide that if property is disposed of in pursuance of a prescribed enactment or an enactment of a prescribed description, it shall be treated for the purposes of section 103 as if it had been disposed of in pursuance of a recovery order. (3) An order under this section may be made so as to apply to property, or a disposal of property, only in prescribed circumstances; and the circumstances may relate to the property or disposal itself or to a person who holds or has held the property or to any other matter. (4) In this section, an order means an order made by the Cabinet and prescribed means prescribed by the order. Proceeds of Crime Act (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_129\", \"num\": \"129.\", \"text\": \"Granting interests 129. (1) Where a person grants an interest in that person\u2019s recoverable property, the question whether the interest is also recoverable is to be determined in the same manner as it is on any other disposal of recoverable property. (2) Pursuant to subsection (1), on a person\u2019s granting an interest in the property (\u201cthe property in question\u201d) \u2014 (a) where the property in question is property obtained through unlawful conduct, the interest is also to be treated as obtained through that conduct; and (b) where the property in question represents in the person\u2019s hands property obtained through unlawful conduct, the interest is also to be treated as representing in that person\u2019s hands the property so obtained. Insolvency\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_130\", \"num\": \"130.\", \"text\": \"Insolvency 130. (1) Proceedings for a recovery order may not be taken or continued in respect of property to which subsection (3) applies unless the appropriate court gives leave and the proceedings are taken or (as the case may be) continued in accordance with any terms imposed by that court. (2) An application for an order for the further detention of any cash to which subsection (3) applies may not be made under section 115 unless the appropriate court gives leave. (3) This subsection applies to recoverable property, or property associated with it, if \u2014 (a) it is an asset of a company being wound up in pursuance of a resolution for voluntary winding up; (b) it is an asset of a company and a voluntary arrangement has effect in relation to the company; (c) an order relating to interim receivership or interim trusteeship has effect in relation to the property; (d) it is an asset comprised in the estate of an individual who has been adjudged bankrupt or a person whose estate has been sequestrated; or (e) it is an asset of an individual and a voluntary arrangement has effect in relation to that person. (4) An application under this section for leave to take proceedings for a recovery order may be made without notice to any person. (5) Subsection (4) does not affect any requirement for notice of an application to be given to any person acting as an insolvency practitioner or to the Official Receiver (whether or not acting as an insolvency practitioner). Proceeds of Crime Act (2025 Revision) (6) In this section \u2014 (a) the appropriate court means the court which, in relation to the resolution, arrangement, order or trust deed mentioned in subsection (3), is the court for the purposes of the applicable enactment; and (b) acting as an insolvency practitioner has the same meaning as in section 186. Interpretation\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_131\", \"num\": \"131.\", \"text\": \"Obtaining and disposing of property 131. (1) References in this Act to a person disposing of that person\u2019s property include a reference to that person\u2019s disposing of a part of it or to that person\u2019s granting an interest in it, or to both; and references to the property disposed of are to any property obtained on the disposal. (2) A person who makes a payment to another shall be considered as making a disposal of that person\u2019s property to the other, whatever form the payment takes. (3) Where a person\u2019s property passes to another under a will or intestacy or by operation of law, it shall be treated as disposed of by that person to the other. (4) A person shall only be considered as having obtained that person\u2019s property for value in a case where that person gave unexecuted consideration if the consideration has become executed consideration.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_132\", \"num\": \"132.\", \"text\": \"General interpretation 132. (1) In this Part references to a person disposing of that person\u2019s property include a reference \u2014 (a) to that person\u2019s disposing of a part of it; or (b) to that person\u2019s granting an interest in it, or to both; and references to the property disposed of are to any property obtained on the disposal. (2) A person who makes a payment to another shall be considered as making a disposal of that person\u2019s property to the other, whatever form the payment takes. (3) Where a person\u2019s property passes to another under a will or intestacy or by operation of law, it shall be considered as disposed of by that person to the other. (4) A person is considered as having obtained that person\u2019s property for value in a case where that person gave unexecuted consideration if the consideration has become executed consideration. (5) For the purpose of deciding whether or not property was recoverable at any time (including times before commencement), it is to be assumed that this Part was in force at that and any other relevant time. Proceeds of Crime Act (2025 Revision) (6) Any reference to a person\u2019s property (whether expressed as a reference to the property that person holds or otherwise) is to be construed as set out in the following subsections. (7) In relation to land, it is a reference to any interest which that person holds in the land. (8) In relation to property other than land, it is a reference \u2014 (a) to the property (if it belongs to that person); or (b) to any other interest which that person holds in the property. (9) References to the satisfaction of the right of the Director of Public Prosecutions\u2019 right to recover property obtained through unlawful conduct are to be read in accordance with section 110. (10) In this Part \u2014 (a) \u201cdealing\u201d with property includes disposing of it, taking possession of it or removing it from the Islands; (b) \u201cright to recover\u201d shall be construed in accordance with the meaning of recoverable property in this Act. Part 5 - Money Laundering and Other Criminal Conduct - Offences\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_133\", \"num\": \"133.\", \"text\": \"Concealing, etc 133. (1) A person commits an offence if that person \u2014 (a) conceals criminal property; (b) disguises criminal property; (c) converts criminal property; (d) transfers criminal property; or (e) removes criminal property from the Islands. (2) A person does not commit an offence under subsection (1) if \u2014 (a) that person makes a disclosure to the Financial Reporting Authority and has the consent of the Financial Reporting Authority to commit the act, but this does not apply to the person who committed or was a party to the act from which the property derives; (b) that person intended to make a disclosure to the Financial Reporting Authority under paragraph (a) but had a reasonable excuse for not doing so; or Proceeds of Crime Act (2025 Revision) (c) the act that person does is done in carrying out a function that person has relating to the enforcement of any provision of this Act or of any other enactment relating to criminal conduct or benefit from criminal conduct. (3) Nor does that person commit an offence under subsection (1) if \u2014 (a) that person knows, or believes on reasonable grounds, that the relevant criminal conduct occurred in a particular country or territory outside the Islands; and (b) the relevant criminal conduct \u2014 (i) was not, at the time it occurred, unlawful under the criminal law then applying in that country or territory; and (ii) is not of a description prescribed by an order made by the Attorney General. (4) Nor does that person commit an offence if that person is a professional legal adviser and does not disclose information or other matter which came to that person in privileged circumstances. (5) But subsection (4) does not apply to information or other matter which is communicated or given with the intention of furthering a criminal purpose. (6) In subsection (3) \u201crelevant criminal conduct\u201d is the conduct by reference to which the property concerned is criminal property. (7) Concealing or disguising criminal property includes concealing or disguising its nature, source, location, disposition, movement or ownership or any rights with respect to it.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_134\", \"num\": \"134.\", \"text\": \"Arrangements 134. (1) A person commits an offence if that person enters into or becomes concerned in an arrangement which that person knows or suspects facilitates (by whatever means) the acquisition, retention, use or control of criminal property by or on behalf of another person. (2) A person does not commit an offence under subsection (1) if \u2014 (a) that person makes a disclosure to the Financial Reporting Authority and has the consent of the Financial Reporting Authority to commit the act, but this does not apply to the person who committed or was a party to the act from which the property derives; (b) that person intended to make such a disclosure but had a reasonable excuse for not doing so; (c) that person is a professional legal adviser and does not disclose information or other matter which came to that person in privileged circumstances; or Proceeds of Crime Act (2025 Revision) (d) the act that person does is done in carrying out a function that person has relating to the enforcement of any provision of this Act or of any other enactment relating to a criminal conduct or benefit from a criminal conduct. (3) But subsection (2)(c) does not apply to information or other matter which is communicated or given with the intention of furthering a criminal purpose. (4) Nor does a person commit an offence under subsection (1) if \u2014 (a) that person knows, or believes on reasonable grounds, that the relevant criminal conduct occurred in a particular country or territory outside the Islands; and (b) the relevant criminal conduct \u2014 (i) was not, at the time it occurred, unlawful under the criminal law then applying in that country or territory; and (ii) is not of a description prescribed by an order made by the Attorney General. (5) In subsection (4) \u201cthe relevant criminal conduct\u201d is the criminal conduct by reference to which the property concerned is criminal property.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_135\", \"num\": \"135.\", \"text\": \"Acquisition, use and possession 135. (1) A person commits an offence if that person \u2014 (a) acquires criminal property; (b) uses criminal property; or (c) has possession of criminal property. (2) A person does not commit an offence under subsection (1) if \u2014 (a) that person makes a disclosure to the Financial Reporting Authority and has the consent of the Financial Reporting Authority to commit the act, but this does not apply to the person who committed or was a party to the act from which the property derives; (b) that person intended to make such a disclosure to the Financial Reporting Authority but had a reasonable excuse for not doing so; (c) that person is a professional legal adviser and does not disclose information or other matter which came to that person in privileged circumstances; (d) that person acquired or used or had possession of the property for adequate consideration; or (e) the act that person does is done in carrying out a function that person has relating to the enforcement of any provision of this Act or of any other Proceeds of Crime Act (2025 Revision) enactment relating to a criminal conduct or benefit from a criminal conduct. (3) For the purposes of this section \u2014 (a) a person acquires property for inadequate consideration if the value of the consideration is significantly less than the value of the property; (b) a person uses or has possession of property for inadequate consideration if the value of the consideration is significantly less than the value of the use or possession; and (c) the provision by a person of goods or services which that person knows or suspects may help another to carry out criminal conduct is not consideration. (4) Nor does a person commit an offence under subsection (1) if \u2014 (a) that person knows, or believes on reasonable grounds, that the relevant criminal conduct occurred in a particular country or territory outside the Islands; and (b) the relevant criminal conduct \u2014 (i) was not, at the time it occurred, unlawful under the criminal law then applying in that country or territory; and (ii) is not of a description prescribed by an order made by the Attorney General. (5) Nor does that person commit an offence if that person is a professional legal adviser and does not disclose information or other matter which came to that person in privileged circumstances. (6) But subsection (5) does not apply to information or other matter which is communicated or given with the intention of furthering a criminal purpose. (7) In subsection (4) \u201cthe relevant criminal conduct\u201d is the criminal conduct by reference to which the property concerned is criminal property.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_136\", \"num\": \"136.\", \"text\": \"Failure to disclose 136. (1) A person commits an offence if \u2014 (a) that person knows or suspects or has reasonable grounds for knowing or suspecting that another person is engaged in criminal conduct; (b) the information or other matter on which that person\u2019s knowledge or suspicion is based, or which gives reasonable grounds for such knowledge or suspicion, came to that person in the course of a business in the regulated sector or other trade, profession, business or employment; (c) that person does not make the required disclosure to a nominated officer, or the Financial Reporting Authority, as soon as is practicable after the Proceeds of Crime Act (2025 Revision) information or other matter mentioned in paragraph (b) comes to that person; and (d) the required disclosure is a disclosure of \u2014 (i) the identity of the person who may be involved in money laundering, if that person knows it; (ii) information or other matter in the form and manner prescribed by regulations to this Act or the prior Law; (iii) the whereabouts of the property with respect to which the criminal conduct is committed, so far as that person knows it; and (iv) the information or other matter mentioned in paragraph (b), or prescribed under section 201 for purposes of this section. (2) But that person does not commit an offence under this section if \u2014 (a) that person has a reasonable excuse for not making the required disclosure; (b) that person is a professional legal adviser or other relevant professional adviser and the information or other matter came to that person in privileged circumstances; or (c) that person does not know or suspect that another person is engaged in money laundering and that person has not been provided by that person\u2019s employer with such training as is specified in guidelines issued by the Monetary Authority and published in the Gazette for the purposes of this section. (3) Nor does a person commit an offence under this section if \u2014 (a) that person knows, or believes on reasonable grounds, that the criminal conduct is occurring in a particular country or territory outside the Islands; and (b) the criminal conduct \u2014 (i) is not unlawful under the criminal law applying in that country or territory; and (ii) is not of a description prescribed in an order made by the Attorney General. (4) Subsection (2) applies to a person if \u2014 (a) that person is a trainee, paralegal, legal secretary or any other person who is employed by, or is in partnership with, a professional legal adviser or a relevant professional adviser to provide the adviser with assistance or support; (b) the information or other matter mentioned in subsection (1)(a) and (b) comes to the person in connection with the provision of such assistance or support; and Proceeds of Crime Act (2025 Revision) (c) the information or other matter came to the adviser in privileged circumstances. (5) In deciding whether a person committed an offence under this section the court shall consider whether the person followed any relevant guidance which was at the time concerned \u2014 (a) issued by the Monetary Authority or by any other public body or selfregulatory body to which the Cabinet has assigned the responsibility of monitoring compliance with money laundering regulations under section 4(9); and (b) published in a manner approved by the Cabinet as appropriate in its opinion to bring the guidance to the attention of persons likely to be affected by it. (6) A disclosure to a nominated officer is a disclosure which \u2014 (a) is made to a person nominated by the alleged offender\u2019s employer to receive disclosures under this section; and (b) is made in the course of the alleged offender\u2019s employment. (7) But a disclosure which satisfies paragraphs (a) and (b) of subsection (6) is not to be taken as a disclosure to a nominated officer if the person making the disclosure \u2014 (a) is a professional legal adviser or other relevant professional adviser; (b) makes it for the purpose of obtaining advice about making a disclosure under this section; and (c) does not intend it to be a disclosure under this section. (8) Information or other matter comes to a professional legal adviser or other relevant professional adviser in privileged circumstances if it is communicated or given to that person \u2014 (a) by (or by a representative of) a client of that person in connection with the giving by the adviser of legal advice to the client; (b) by (or by a representative of) a person seeking legal advice from the adviser; or (c) by a person in connection with legal proceedings or contemplated legal proceedings. (9) But subsection (8) does not apply to information or other matter which is communicated or given with the intention of furthering a criminal purpose. (10) Schedule 4 has effect for the purpose of determining a business in the regulated sector. Proceeds of Crime Act (2025 Revision) (11) A relevant professional adviser is an accountant, auditor or tax adviser who is a member of a professional body which is established for accountants, auditors or tax advisers (as the case may be) and which makes provision for \u2014 (a) testing the competence of those seeking admission to membership of such a body as a condition for such admission; and (b) imposing and maintaining professional and ethical standards for its members, as well as imposing sanctions for non-compliance with those standards.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_137\", \"num\": \"137.\", \"text\": \"Failure to disclose: nominated officers 137. (1) A nominated officer commits an offence if \u2014 (a) that person knows or suspects or has reasonable grounds for knowing or suspecting that another person is engaged in a criminal conduct; (b) the information or other matter on which that person\u2019s knowledge or suspicion is based, or which gives reasonable grounds for such knowledge or suspicion, came to that person either in the course of business in the regulated sector or in consequence of a disclosure made under section 136; (c) that person does not make the required disclosure to the Financial Reporting Authority as soon as is practicable after the information or other matter mentioned in paragraph (b) comes to that person; and (d) the required disclosure is a disclosure of \u2014 (i) the identity of the other person mentioned in paragraph (a) if that person knows it; (ii) the whereabouts of the property with respect to which the criminal conduct was committed, so far as that person knows it; and (iii) the information or other matter mentioned in paragraph (b), or prescribed under section 201 for purposes of this section. (2) But that person does not commit an offence under this section if \u2014 (a) that person has a reasonable excuse for not making the required disclosure; (b) that person falls within the exception (relating to professional grounds) set out in section 136; (c) that person has not been provided by that person\u2019s employer with such training as is specified by the Cabinet by order for the purposes of this section. (3) Nor does a person commit an offence under this section if \u2014 (a) that person knows, or believes on reasonable grounds, that the criminal conduct is occurring in a particular country or territory outside the Islands, and (b) the criminal conduct \u2014 Proceeds of Crime Act (2025 Revision) (i) is not unlawful under the criminal law applying in that country or territory, and (ii) is not of a description prescribed in an order made by the Attorney General. (4) In deciding whether a person committed an offence under this section the court shall consider whether that person followed any relevant guidance which was at the material time \u2014 (a) issued by the Monetary Authority or by any other public body or selfregulatory body to which the Cabinet has assigned the responsibility of monitoring compliance with money laundering regulations under section 4(9); and (b) published in a manner approved by the Monetary Authority or by any other public body or self-regulatory body to which the Cabinet has assigned the responsibility of monitoring compliance with anti-money laundering regulations under section 4(9) as appropriate in its opinion to bring the guidance to the attention of persons likely to be affected by it. (5) Repealed by section 8(c) of the Proceeds of Crime (Amendment) Law, 2017 [Law 49 of 2017].\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_138\", \"num\": \"138.\", \"text\": \"Disclosure by the Financial Reporting Authority 138. (1) The Financial Reporting Authority \u2014 (a) shall, where it has cause to suspect that criminal conduct has been committed, disclose any information received under this Act to any law enforcement agency in the Islands; (b) may, where it has cause to suspect that criminal conduct has been committed, disclose any information received under this Act to \u2014 (i) any competent authority; (ii) any Supervisory Authority within the Islands; and (iii) such other institutions or persons in the Islands as may bedesignated in writing by the Steering Group; and (b) may, where it has cause to suspect that a criminal conduct has been committed disclose any information received under this Act to any overseas financial intelligence unit, in order to \u2014 (i) report the possible commission of an offence; (ii) initiate a criminal investigation respecting the matter disclosed; (iii) assist with any investigation or criminal proceedings respecting the matter disclosed; (iv) facilitate the effective regulation of the financial services industry; or Proceeds of Crime Act (2025 Revision) (v) generally give effect to the purposes of this Act or any other law. (2) Repealed by section 4(b) of the Proceeds of Crime (Amendment) Law, 2018 [Law 28 of 2018].\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_139\", \"num\": \"139.\", \"text\": \"Tipping off 139. (1) A person commits an offence if \u2014 (a) the person knows or suspects that an activity in relation to which a disclosure is required to be made under this Act is about to take place, is taking place or has taken place (whether or not a disclosure has been or is likely to be made in relation thereto); and (b) the person makes a disclosure which is likely to prejudice any investigation which might be conducted following the disclosure referred to in paragraph (a), (whether or not the investigation is conducted). (2) A person does not commit an offence under subsection (1) if \u2014 (a) the disclosure of the information was done in accordance with information sharing obligations under a financial group\u2019s group-wide programmes against money laundering and terrorist financing as may be prescribed under section 145; (b) the disclosure is made in carrying out a function that person has relating to the enforcement of any provision of this Act or of any other enactment relating to a criminal conduct or benefit from a criminal conduct ; and (c) the person is a professional legal adviser and the disclosure falls within subsection (3). (3) A disclosure falls within this subsection if it is a disclosure \u2014 (a) to (or to a representative of) a client of the professional legal adviser in connection with the giving by the adviser of legal advice to the client; or (b) to any person in connection with legal proceedings or contemplated legal proceedings. (4) A disclosure does not fall within subsection (3) if it is made with the intention of furthering a criminal purpose.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_140\", \"num\": \"140.\", \"text\": \"Whistleblowers 140. No person may be subject to any legal, administrative or employment-related sanction, regardless of any breach of a legal or employment-related obligation, for releasing information relating to a contravention of this Part.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_141\", \"num\": \"141.\", \"text\": \"Penalties 141. (1) A person who commits an offence under section 133, 134 or 135 is liable \u2014 Proceeds of Crime Act (2025 Revision) (a) on summary conviction, to a fine of five thousand dollars or imprisonment for a term of two years, or to both; or (b) on conviction on indictment, to imprisonment for a term of fourteen years or to a fine, or to both. (2) A person who commits an offence under section 136, 137 or 139 is liable \u2014 (a) on summary conviction, to a fine of of five thousand dollars or imprisonment for a term of two years, or to both; or (b) on conviction on indictment, to imprisonment for a term of five years or to a fine, or to both. (3) A person who commits an offence created under section 143 is liable to the penalties that may be prescribed in an order made under that section.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_142\", \"num\": \"142.\", \"text\": \"Vicarious criminal liability 142. (1) Where an offence under this Part is proved to have been committed with the consent or connivance of, or to be attributable to, any neglect on the part of, a director, manager, secretary or other similar officer of the body corporate or a person who was purporting to act in any such capacity (however designated), the person committing the offence, as well as the body corporate, shall have committed that offence and shall be liable to be proceeded against and punished accordingly. (2) Where the affairs of a body corporate are managed by the members, subsection (1) shall apply in relation to the acts and defaults of a member in connection with that person\u2019s functions of management as if that person were a director of a body corporate. (3) Where an offence under this Part is committed by a partnership, or by an unincorporated association other than a partnership, and that offence is proved to have been committed with the consent or connivance of, or is attributable to any neglect on the part of a partner in the partnership or a person concerned in the management or control of the association, that person, as well as the partnership or association, shall have committed that offence and shall be liable to be proceeded against and punished accordingly. (4) This section applies to all entities in the regulated sector registered in the Islands and to entities that are not in the regulated sector (whether or not the nominated officer is based in the Islands).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_143\", \"num\": \"143.\", \"text\": \"Form and manner of disclosures 143. The Cabinet may by Order prescribe the form and manner of disclosure under sections 136, 137 and 142 and may in that regard create offences and prescribe penalties not exceeding those specified in section 141. Proceeds of Crime Act (2025 Revision) Interpretation: money laundering\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_144\", \"num\": \"144.\", \"text\": \"Interpretation 144. (1) This section applies for the purposes of this Part. (2) Criminal conduct is conduct which \u2014 (a) constitutes an offence in any part of the Islands; or (b) would constitute an offence in any part of the Islands if it occurred there. (3) Property is criminal property if \u2014 (a) it constitutes a person\u2019s benefit from a criminal conduct or it represents such a benefit (in whole or part and whether directly or indirectly); and (b) the alleged offender knows or suspects that it constitutes or represents such a benefit, and includes terrorist property. (4) It is immaterial who carried out the criminal conduct, who benefited from it and whether the conduct occurred before or after the commencement of this Act. (5) A person benefits from criminal conduct if that person obtains property as a result of or in connection with the conduct. (5A) It may be proved that property is criminal property \u2014 (a) by showing that it derives from conduct of a specific kind or kinds, and that conduct of that kind or those kinds is criminal conduct; or (b) by showing that the circumstances in which the property was handled are such as to give rise to the irresistible inference that it can only be criminal property. (6) If a person obtains a pecuniary advantage as a result of or in connection with criminal conduct, that person shall be considered to obtain as a result of or in connection with the criminal conduct a sum of money equal to the value of the pecuniary advantage. (7) References to property or a pecuniary advantage obtained in connection with a criminal conduct include references to property or a pecuniary advantage obtained in both that connection and some other. (8) If a person benefits from conduct that person\u2019s benefit is the property obtained as a result of or in connection with the act. (9) The following rules apply in relation to property \u2014 (a) property is obtained by a person if that person obtains an interest in it; (b) references to an interest, in relation to land in the Islands, are to any legal estate or equitable interest or power; Proceeds of Crime Act (2025 Revision) (c) references to an interest, in relation to property other than land, include references to a right (including a right to possession). (10) Money laundering is an act which \u2014 (a) constitutes an offence under section 133, 134 or 135; (b) constitutes an attempt, conspiracy or incitement to commit an offence specified in paragraph (a); (c) constitutes aiding, abetting, counselling or procuring the commission of an offence specified in paragraph (a); or (d) would constitute an offence specified in paragraph (a), (b) or (c) if done in the Islands. (11) For the purposes of a disclosure to a nominated officer \u2014 (a) references to a person\u2019s employer include any body, association or organisation (including a voluntary organisation) in connection with whose activities the person exercises a function (whether or not for gain or reward); and (b) references to employment shall be construed accordingly.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_145\", \"num\": \"145.\", \"text\": \"Regulations 145. (1) The Cabinet may, upon the recommendation of the Anti-Money Laundering Steering Group, the Monetary Authority and the Financial Reporting Authority, make regulations prescribing measures to be taken to prevent the use of the financial system and any other facilities provided in or from within the Islands for the purposes of criminal conduct including measures \u2014 (a) to utilise systems and train employees to prevent money laundering; (b) to manage and mitigate any risks that may be involved in the course of business; (c) to conduct the appropriate and adequate due diligence of a customer or a person with whom business is conducted; (d) to ensure that proper and adequate records are kept; (e) that may be required to be utilised in matters involving specific types of customers or activities which may include a politically exposed person or the transfer of currency; (f) to maintain the prescribed obligations of a financial institution or a designated non-financial business or profession in the prevention of money laundering; (fa) to establish a framework under which reporters of suspicion of criminal conduct may seek and obtain a defence to specified money laundering or terrorist financing offences in relation to those reported offences; and Proceeds of Crime Act (2025 Revision) (g) to ensure that proper and adequate reports are made to the relevant Authority in the Islands regarding any suspicious activity related to money laundering. (2) Regulations made under subsection (1) may \u2014 (a) make different provisions for different circumstances or cases and may contain incidental, supplementary and transitional provisions; (b) provide that the contravention of any provision of those regulations constitutes an offence and may prescribe penalties for any such offence \u2014 (i) on conviction on indictment, consisting of a fine and imprisonment for two years; or (ii) on summary conviction, consisting of a fine of five hundred thousand dollars; (c) prescribe the manner in which an administrative penalty system with a maximum penalty of two hundred and fifty thousand dollars may be implemented; and (d) prescribe fees, subscriptions or other monies which may be payable by any person who is supervised in accordance with this Act and the regulations. Part 6 - Investigations - Introduction\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_146\", \"num\": \"146.\", \"text\": \"Investigations 146. (1) For the purposes of this Part \u2014 (a) a confiscation investigation is an investigation into \u2014 (i) whether a person has benefited from that person\u2019s criminal conduct; or (ii) the extent or whereabouts of that person\u2019s benefit from that person\u2019s criminal conduct; and (b) a civil recovery investigation is an investigation into \u2014 (i) whether property is recoverable property or associated property; (ii) who holds the property; or (iii) its extent or whereabouts. (2) An investigation is not a civil recovery investigation if \u2014 (a) proceedings for a recovery order have been started in respect of the property in question under section 80; (b) an interim receiving order applies to the property in question under section 87; or (c) the property in question is detained under sections 114 and 115. Proceeds of Crime Act (2025 Revision) (3) For the purposes of this Part a money laundering investigation is an investigation into whether a person has committed a money laundering offence.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_147\", \"num\": \"147.\", \"text\": \"Offences of prejudicing investigation 147. (1) This section applies if a person knows or suspects that an appropriate officer is acting (or proposing to act) in connection with a confiscation investigation, civil recovery investigation or money laundering investigation which is being or is about to be conducted. (2) A person commits an offence if \u2014 (a) the person makes a disclosure which is likely to prejudice the investigation; or (b) the person falsifies, conceals, destroys or otherwise disposes of, or causes or permits the falsification, concealment, destruction or disposal of, documents which are relevant to the investigation. (3) A person does not commit an offence under subsection (2)(a) where \u2014 (a) the person does not know or suspect that the disclosure is likely to prejudice the investigation; (b) the disclosure is made in the exercise of a function under this Act or any other enactment relating to money laundering or benefit from money laundering or in compliance with a requirement imposed under or by virtue of this Act; or (c) the person is a professional legal adviser and the disclosure falls within subsection (4). (4) A disclosure falls within this subsection if it is a disclosure \u2014 (a) to (or to a representative of) a client of the professional legal adviser in connection with the giving by the adviser of legal advice to the client; or (b) to any person in connection with legal proceedings or contemplated legal proceedings. (5) A disclosure does not fall within subsection (4) if it is made with the intention of furthering a criminal purpose. (6) A person does not commit an offence under subsection (2)(b) where \u2014 (a) the person does not know or suspect that the documents are relevant to the investigation; or (b) the person does not intend to conceal any facts disclosed by the documents from any appropriate officer or proper person carrying out the investigation. (7) A person who commits an offence under subsection (2) is liable \u2014 (a) on summary conviction, to imprisonment for a term of six months or to a fine of four thousand dollars, or to both; or Proceeds of Crime Act (2025 Revision) (b) on conviction on indictment, to imprisonment for a term of five years or to a fine, or to both. Judges and courts\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_148\", \"num\": \"148.\", \"text\": \"Judges 148. In relation to an application for the purposes of \u2014 (a) a confiscation investigation; (b) an investigation relating to money laundering; or (c) a civil recovery investigation, reference to the court is to the Grand Court and to a judge is to a judge of the Grand Court. Production orders\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_149\", \"num\": \"149.\", \"text\": \"Production orders 149. (1) A judge may, on an application made to that judge by a constable, make a production order if that judge is satisfied that each of the requirements for the making of the order is fulfilled. (2) A \u201cproduction order\u201d is an order either \u2014 (a) requiring the person whom the application for the order specifies as appearing to be in possession or control of material to produce the material to an appropriate officer for that person to take away; or (b) requiring that person to give an appropriate officer access to the material, within the period stated in the order. (3) The application for a production order shall state that \u2014 (a) a person specified in the application is subject to a confiscation investigation or a money laundering investigation; or (b) property specified in the application is subject to a civil recovery investigation; and (c) the order is sought for the purposes of the investigation; and (d) the order is sought in relation to material, or material of a description, specified in the application; and (e) a person specified in the application appears to be in possession or control of the material. (4) The period stated in a production order shall be a period of seven days beginning with the day on which the order is made, unless it appears to the judge by whom the order is made that a longer or shorter period would be appropriate in the particular circumstances. Proceeds of Crime Act (2025 Revision) (5) Where a judge makes a production order under this section, the order need not be served on the person who is under investigation.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_150\", \"num\": \"150.\", \"text\": \"Requirements for making of production order 150. A judge, in order to grant a production order, shall be satisfied that \u2014 (a) there are reasonable grounds for suspecting that \u2014 (i) in the case of a confiscation investigation, the person whom the application for the order specifies as being subject to the investigation has benefited from that person\u2019s criminal conduct; (ii) in the case of a civil recovery investigation, the property which the application for the order specifies as being subject to the investigation is recoverable property or associated property; and (iii) in the case of a money laundering investigation, the person whom the application for the order specifies as being subject to the investigation has committed a money laundering offence; (b) there are reasonable grounds for believing that the person whom the application specifies as appearing to be in possession or control of the material so specified is in possession or control of it; (c) there are reasonable grounds for believing that the material is likely to be of substantial value (whether or not by itself) to the investigation for the purposes of which the order is sought; and (d) there are reasonable grounds for believing that it is in the public interest for the material to be produced or for access to it to be given, having regard to \u2014 (i) the benefit likely to accrue to the investigation if the material is obtained; and (ii) the circumstances under which the person whom the application specifies as appearing to be in possession or control of the material holds it.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_151\", \"num\": \"151.\", \"text\": \"Order to grant entry 151. (1) Where a judge makes a production order requiring a person to give an appropriate officer access to material on any premises the judge may, on an application made to that judge by an appropriate officer and specifying the premises, make an order to grant entry in relation to the premises. (2) An order to grant entry is an order requiring any person who appears to an appropriate officer to be entitled to grant entry to the premises to allow that appropriate officer to enter the premises to obtain access to the material. Proceeds of Crime Act (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_152\", \"num\": \"152.\", \"text\": \"Further provisions 152. (1) A production order shall \u2014 (a) not require a person to produce, or give access to, privileged material; (b) not require a person to produce, or give access to, excluded material; and (c) have effect in spite of any restriction on the disclosure of information however imposed. (2) Privileged material is any material which the person would be entitled to refuse to produce on grounds of legal professional privilege in proceedings in the Grand Court. (3) An appropriate officer may take copies of any material which is produced, or to which access is given, in compliance with a production order and such material may be retained for so long as it is necessary to retain it (in its original form) in connection with the investigation for the purposes of which the order was made. (4) Notwithstanding subsection (3), where an appropriate officer has reasonable grounds for believing that \u2014 (a) the material may need to be produced for the purposes of any legal proceedings; and (b) it might otherwise be unavailable for those purposes, it may be retained until the proceedings are concluded.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_153\", \"num\": \"153.\", \"text\": \"Computer information 153. (1) This section applies if any of the material specified in an application for a production order consists of information contained in a computer. (2) Where a production order is an order \u2014 (a) requiring a person to produce the material to an appropriate officer for that appropriate officer to take away, it has effect as an order to produce the material in a form in which it can be taken away by that appropriate officer and in which it is visible and legible; and (b) requiring a person to give an appropriate officer access to the material, it has effect as an order to give that appropriate officer access to the material in a form in which it is visible and legible.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_154\", \"num\": \"154.\", \"text\": \"Government entities 154. (1) A production order may be made in relation to material in the possession or control of a government entity. (2) An order made in accordance with subsection (1) may require any officer of the entity (whether named in the order or not) who may for the time being be in possession or control of the material to comply with it and such order shall be served as if the proceedings were civil proceedings against the entity. Proceeds of Crime Act (2025 Revision) (3) Where an order contains such a requirement \u2014 (a) the person on whom it is served shall take all reasonable steps to bring it to the attention of the officer concerned; and (b) any other officer of the entity who is in receipt of the order shall also take all reasonable steps to bring it to the attention of the officer concerned. (4) Where the order is not brought to the attention of the officer concerned within the period stated in the order (in pursuance of section 149(4)) the person on whom it is served shall report the reasons for the failure to a judge. (5) For the purposes of this Act \u201cgovernment entity\u201d includes a ministry, portfolio, statutory authority and government company.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_155\", \"num\": \"155.\", \"text\": \"Supplementary: production orders and orders to grant entry 155. (1) An application for a production order or an order to grant entry may be made ex parte to a judge in chambers. (2) The Rules Committee of the Grand Court may make rules providing for the practice and procedure to be followed in connection with proceedings relating to production orders and orders to grant entry. (3) An application to discharge or vary a production order or an order to grant entry may be made to the court by the person who applied for the order or any person affected by the order. (4) The court may discharge or vary a production order or an order to grant entry. (5) Where a constable or a customs officer applies for a production order or an order to grant entry, an application to discharge or vary the order need not be by the same constable or customs officer. (6) References to a person who applied for a production order or an order to grant entry shall be construed accordingly. Search and seizure warrants\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_156\", \"num\": \"156.\", \"text\": \"Search and seizure warrants 156. (1) A judge may, on an application made to that judge by a constable, issue a search and seizure warrant if that judge is satisfied that either of the requirements for the issuing of the warrant set out in subsection (3) is fulfilled. (2) A search and seizure warrant is a warrant authorising an appropriate person \u2014 (a) to enter and search the premises specified in the application for the warrant; and (b) to seize and retain any material found there which is likely to be of substantial value (whether or not by itself) to the investigation for the purposes of which the application is made. (3) An application for a search and seizure warrant shall state that \u2014 Proceeds of Crime Act (2025 Revision) (a) a person specified in the application is subject to a confiscation investigation or a money laundering investigation or the property specified in the application is subject to a civil recovery investigation; or (b) the warrant is sought for the purposes of the investigation and \u2014 (i) the warrant is sought in relation to the premises specified in the application; and (ii) the warrant is sought in relation to material specified in the application, or that there are reasonable grounds for believing that there is material falling within section 157(2), (3) or (4) on the premises. (4) An appropriate person is a constable or a customs officer or a person employed in the Financial Reporting Authority for the purpose of receiving reports under this Act. (5) The requirements for the issue of a search and seizure warrant are \u2014 (a) that a production order made in relation to material has not been complied with and there are reasonable grounds for believing that the material is on the premises specified in the application for the warrant; or (b) that section 157 is satisfied in relation to the warrant.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_157\", \"num\": \"157.\", \"text\": \"Requirements where production order not available 157. (1) Where there is no production order a court may for the reasons stated in subsection (2) issue a search and seizure warrant if the conditions set out in section 150 are satisfied. (2) The reasons are \u2014 (a) that it is not practicable to communicate with any person against whom the production order could be made; (b) that it is not practicable to communicate with any person who would be required to comply with an order to grant entry to the premises; or (c) that the investigation might be seriously prejudiced unless an appropriate person is able to secure immediate access to the material. (3) In the case of a confiscation investigation, material falls within this subsection if it cannot be identified at the time of the application but it \u2014 (a) relates to the person specified in the application, the question whether that person has benefited from that person\u2019s criminal conduct or any question as to the extent or whereabouts of that person\u2019s benefit from that person\u2019s criminal conduct; and (b) is likely to be of substantial value (whether or not by itself) to the investigation for the purposes of which the warrant is sought. Proceeds of Crime Act (2025 Revision) (4) In the case of a civil recovery investigation, material falls within this subsection if it cannot be identified at the time of the application but it \u2014 (a) relates to the property specified in the application or to \u2014 (i) the question whether it is recoverable property or associated property; (ii) the question as to who holds any such property; (iii) any question as to whether the person who appears to hold any such property holds other property which is recoverable property; or (iv) any question as to the extent or whereabouts of any property mentioned in this paragraph; and (b) is likely to be of substantial value (whether or not by itself) to the investigation for the purposes of which the warrant is sought. (5) In the case of a money laundering investigation, material falls within this subsection if it cannot be identified at the time of the application but it \u2014 (a) relates to the person specified in the application or the question whether that person has committed a money laundering offence; and (b) is likely to be of substantial value (whether or not by itself) to the investigation for the purposes of which the warrant is sought. (6) For the purposes of this section an appropriate person is a constable or a customs officer or a person employed by the Financial Reporting Authority for the purpose of receiving reports under this Act.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_158\", \"num\": \"158.\", \"text\": \"Further provisions: general 158. (1) A search and seizure warrant does not confer the right to seize privileged or excluded material. (2) Privileged material is any material which a person would be entitled to refuse to produce on grounds of legal professional privilege in proceedings in the Grand Court.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_159\", \"num\": \"159.\", \"text\": \"Further provisions: civil recovery 159. (1) An application for a search and seizure warrant sought for the purposes of civil recovery investigations may be made ex parte to a judge in chambers and such warrant may be issued subject to conditions. (2) A warrant \u2014 (a) shall continue in force until the end of the period of one month starting with the day on which it is issued; and (b) authorises the person it names to require any information which is held in a computer and is accessible from the premises specified in the application for the warrant, and which the named person believes relates to any matter Proceeds of Crime Act (2025 Revision) relevant to the investigation, to be produced in a form in which it can be taken away and in which it is visible and legible. (3) Where the Commissioner of Police gives written authority for a constable to accompany the person a warrant names when executing it and a warrant is issued the authorised officers have the same powers under the warrant as the named person. (4) A warrant may include provision authorising a person who is exercising powers under it to do other things which are not specified in the warrant, and need to be done in order to give effect to it. (5) Copies may be taken of any material seized under a warrant. (6) Material seized under a warrant may be retained in its original form for so long as it is necessary to retain it in connection with the investigation for the purposes of which the warrant was issued. (7) Notwithstanding subsection (6), if the Commissioner of Police has reasonable grounds for believing that the material seized may have to be produced for the purposes of any legal proceedings, and the material might otherwise be unavailable for those purposes, it may be retained until the proceedings are concluded. Disclosure orders\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_160\", \"num\": \"160.\", \"text\": \"Disclosure orders 160. (1) A judge may, on an application made to that judge by the Director of Public Prosecutions, make a disclosure order if that judge is satisfied that each of the requirements set out in section 161 for the making of the order is fulfilled. (2) A disclosure order is an order authorising the Director of Public Prosecutions to give to any person the Director of Public Prosecutions considers has relevant information notice in writing requiring that person to do, with respect to any matter relevant to the investigation for the purposes of which the order is sought, any or all of the following \u2014 (a) answer questions, either at a time specified in the notice or at once, at a place so specified; (b) provide information specified in the notice, by a time and in a manner so specified; or (c) produce documents, or documents of a description, specified in the notice, either at or by a time so specified or at once, and in a manner so specified. (3) An application for a disclosure order shall not be made in relation to a money laundering investigation. (4) The application for a disclosure order shall state that \u2014 Proceeds of Crime Act (2025 Revision) (a) a person specified in the application is subject to a confiscation investigation and the order is sought for the purposes of the investigation; or (b) property specified in the application is subject to a civil recovery investigation and the order is sought for the purposes of the investigation. (5) \u201cRelevant information\u201d is information (whether or not contained in a document) which the Director of Public Prosecutions considers to be relevant to the investigation. (6) A person is not bound to comply with a requirement imposed by a notice given under a disclosure order unless evidence of authority to give the notice is produced to that person. (7) Where a judge makes a disclosure order under this section, the order need not be served on the person who is under investigation.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_161\", \"num\": \"161.\", \"text\": \"Requirements for the making of disclosure order 161. A court may make a disclosure order if \u2014 (a) there are reasonable grounds for suspecting that \u2014 (i) in the case of a confiscation investigation, the person specified in the application for the order has benefited from that person\u2019s criminal conduct; or (ii) in the case of a civil recovery investigation, the property specified in the application for the order is recoverable property or associated property; (b) there are reasonable grounds for believing that information which may be provided in compliance with a requirement imposed under the order is likely to be of substantial value (whether or not by itself) to the investigation for the purposes of which the order is sought; and (c) there are reasonable grounds for believing that it is in the public interest for the information to be provided, having regard to the benefit likely to accrue to the investigation if the information is obtained.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_162\", \"num\": \"162.\", \"text\": \"Offences: failure to comply with disclosure order 162. (1) A person commits an offence if without reasonable excuse that person fails to comply with a requirement imposed on that person under a disclosure order. (2) A person who commits an offence under subsection (1) is liable on summary conviction to a fine of four thousand dollars or imprisonment for a term of six months, or to both. (3) A person commits an offence if, in purported compliance with a requirement imposed on that person under a disclosure order, that person \u2014 Proceeds of Crime Act (2025 Revision) (a) makes a statement which that person knows to be false or misleading in a material particular; or (b) recklessly makes a statement which is false or misleading in a material particular. (4) A person who commits an offence under subsection (3) is liable \u2014 (a) on summary conviction to a fine of four thousand dollars or to imprisonment for a term of six months, or to both; or (b) on conviction on indictment, to imprisonment for a term of two years, to a fine, or to both.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_163\", \"num\": \"163.\", \"text\": \"Statements: disclosure orders 163. (1) A statement made by a person in response to a requirement imposed on that person under a disclosure order may not be used in evidence against that person in criminal proceedings. (2) Subsection (1) does not apply \u2014 (a) in the case of proceedings under Part 3; (b) on a prosecution for an offence under section 162(1) or (3); (c) on a prosecution for an offence of perjury or making false statements; or (d) on a prosecution for some other offence where, in giving evidence, the person makes a statement inconsistent with the statement mentioned in subsection (1). (3) A statement may not be used by virtue of subsection (2)(d) against a person unless the evidence relating to it is adduced or a question relating to it is asked by that person or on that person\u2019s behalf in the proceedings arising out of the prosecution.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_164\", \"num\": \"164.\", \"text\": \"Further provisions: disclosure orders 164. (1) A disclosure order shall not confer the right to require a person to answer any privileged question, provide any privileged information or produce any privileged document, except that a legal practitioner may be required to provide the name and address of a client of that legal practitioner. (2) A privileged question is a question which the person would be entitled to refuse to answer on grounds of legal professional privilege in proceedings in the Grand Court. (3) Privileged information is any information which the person would be entitled to refuse to provide on grounds of legal professional privilege in proceedings in the Grand Court. Proceeds of Crime Act (2025 Revision) (4) A disclosure order shall not confer the right to require a person to produce excluded material and has effect notwithstanding any restriction on the disclosure of information however imposed. (5) A constable of or above the rank of Inspector may take copies of any documents produced in compliance with a requirement to produce them which is imposed under a disclosure order and documents so produced may be retained in their original form for so long as it is necessary to retain them in connection with the investigation for the purposes of which the order was made. (6) Notwithstanding subsection (5), where the Commissioner of Police has reasonable grounds for believing that the documents may have to be produced for the purposes of any legal proceedings, and they might otherwise be unavailable for those purposes they may be retained until the proceedings are concluded. (7) \u201cExcluded material\u201d means \u2014 (a) personal records which a person has acquired or created in the course of any trade, business, profession or other occupation or for the purposes of any paid or unpaid office and which that person holds in confidence; (b) human tissue or tissue fluid which has been taken for the purposes of diagnosis or medical treatment and which a person holds in confidence; or (c) journalistic material which a person holds in confidence and which consists of documents and of records other than documents.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_165\", \"num\": \"165.\", \"text\": \"Supplementary: applications for disclosure orders 165. (1) An application for a disclosure order may be made ex parte to a judge in chambers. (2) The Rules Committee may make rules of court providing for the practice and procedure to be followed in proceedings relating to disclosure orders. (3) An application to discharge or vary a disclosure order may be made to the court by the Director of Public Prosecutions or any person affected by the order. (4) The court may discharge or vary a disclosure order. (5) Subsections (2) to (4) do not apply to orders made for the purposes of a civil recovery investigation. Customer information orders\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_166\", \"num\": \"166.\", \"text\": \"Customer information orders 166. (1) A judge may, on an application made to that judge by an appropriate officer, make a customer information order if that judge is satisfied that each of the requirements set out in subsection (3) for the making of the order is fulfilled. Proceeds of Crime Act (2025 Revision) (2) A \u201ccustomer information order\u201d is an order that a financial institution covered by the application for the order shall, on being required to do so by notice in writing given by an appropriate officer, provide any such customer information as it has relating to the person specified in the application. (3) The application for a customer information order shall state that \u2014 (a) a person specified in the application is subject to a confiscation investigation or a money laundering investigation; or (b) property specified in the application is subject to a civil recovery investigation and a person specified in the application appears to hold the property; (c) the order is sought for the purposes of the investigation; and (d) the order is sought against the financial institution or financial institutions specified in the application. (4) An application for a customer information order may specify \u2014 (a) all financial institutions; (b) a particular description, or particular descriptions, of financial institutions; or (c) a particular financial institution or particular financial institutions. (5) A financial institution which is required to provide information under a customer information order shall provide the information to an appropriate officer in such manner, and at or by such time, as an appropriate officer requires. (6) Where a financial institution on which a requirement is imposed by a notice given under a customer information order requires the production of evidence of authority to give the notice, it is not bound to comply with the requirement unless evidence of the authority has been produced to it. (7) Where a judge makes a customer information order under this section, the order need not be served on the person who is under investigation. (8) For purposes of clarification it is declared that nothing in this section limits any power under any Law to obtain information referred to in this section or its provision on a voluntary basis.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_167\", \"num\": \"167.\", \"text\": \"Meaning of customer information 167. (1) \u201cCustomer information\u201d, in relation to a person and a financial institution, is information whether the person holds, or has held, an account or accounts at the financial institution whether solely or jointly with another and information as to \u2014 (a) the matters specified in subsection (2) if the person is an individual; and Proceeds of Crime Act (2025 Revision) (b) the matters specified in subsection (3) if the person is a company or limited liability partnership or a similar body incorporated or otherwise established outside the Islands. (2) The matters referred to in subsection (1) (a) are \u2014 (a) the account number or numbers; (b) the person\u2019s full name; (c) the person\u2019s date of birth; (d) the person\u2019s most recent address and any previous addresses; (e) the date or dates on which that person began to hold the account or accounts and, if that person has ceased to hold the account or any of the accounts, the date or dates on which that person did so; (f) such evidence of that person\u2019s identity as was obtained by the financial institution under or for the purposes of any legislation relating to proceeds of crime; (g) the full name, date of birth and most recent address, and any previous addresses, of any person who holds, or has held, an account at the financial institution jointly with that person; and (h) the account number or numbers of any other account or accounts held at the financial institution to which that person is a signatory and details of the person holding the other account or accounts. (3) The matters referred to in subsection (1)(b) are \u2014 (a) the account number or numbers; (b) the person\u2019s full name; (c) a description of any business which the person carries on; (d) the country or territory in which the person is incorporated or otherwise established and any number assigned to it under section 26 of the Companies Act (2025 Revision) or corresponding legislation of any country or territory outside the Islands; (e) the person\u2019s registered office, and any previous registered offices, under the Companies Act (2025 Revision) or anything similar under corresponding legislation of any country or territory outside the Islands; (f) the person\u2019s registered office, and any previous registered offices, under the Partnership Act (2025 Revision) or anything similar under corresponding legislation of any country or territory outside the Islands; (g) the date or dates on which the person began to hold the account or accounts and, if it has ceased to hold the account or any of the accounts, the date or dates on which it did so; Proceeds of Crime Act (2025 Revision) (h) such evidence of the person\u2019s identity as was obtained by the financial institution under or for the purposes of any legislation relating to the proceeds of crime; and (i) the full name, date of birth and most recent address and any previous addresses of any person who is a signatory to the account or any of the accounts. (4) The Cabinet may by order provide for information of a description specified in the order to be customer information or no longer to be customer information. (5) \u201cMoney laundering\u201d is an act which \u2014 (a) constitutes an offence under section 133, 134 or 135 of this Act or any other offence similar or connected to the offences referred to in this paragraph; or (b) would constitute an offence specified or a type referred to in paragraph (a) if done in the Islands.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_168\", \"num\": \"168.\", \"text\": \"Requirements for making of customer information order 168. A court may make a customer information order if it is satisfied that \u2014 (a) in the case of a confiscation investigation, there are reasonable grounds for suspecting that the person specified in the application for the order has benefited from that person\u2019s criminal conduct; (b) in the case of a civil recovery investigation, there are reasonable grounds for suspecting that \u2014 (i) the property specified in the application for the order is recoverable property or associated property; and (ii) the person specified in the application holds all or some of the property; (c) in the case of a money laundering investigation, there are reasonable grounds for suspecting that the person specified in the application for the order has committed a money laundering offence; (d) in the case of any investigation, there are reasonable grounds for believing that customer information which may be provided in compliance with the order is likely to be of substantial value (whether or not by itself) to the investigation for the purposes of which the order is sought; and (e) in the case of any investigation, there are reasonable grounds for believing that it is in the public interest for the customer information to be provided, having regard to the benefit likely to accrue to the investigation if the information is obtained. Proceeds of Crime Act (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_169\", \"num\": \"169.\", \"text\": \"Offences: failure to comply with customer information order 169. (1) A financial institution commits an offence if, without reasonable excuse, it fails to comply with a requirement imposed on it under a customer information order. (2) A financial institution which commits an offence under subsection (1) is liable on summary conviction to a fine of ten thousand dollars. (3) A financial institution commits an offence if, in purported compliance with a customer information order, it makes a statement which it knows to be false or misleading in a material particular. (4) A financial institution which commits an offence under subsection (3) is liable on summary conviction, to a fine of fifteen thousand dollars or on conviction on indictment, to a fine.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_170\", \"num\": \"170.\", \"text\": \"Statements: customer information orders 170. (1) A statement made by a financial institution in response to a customer information order may not be used in evidence against it in criminal proceedings. (2) Subsection (1) does not apply \u2014 (a) in the case of proceedings under Part 3; (b) on a prosecution for an offence under section 169(1) or (3); or (c) on a prosecution for some other offence where, in giving evidence, the financial institution makes a statement inconsistent with the statement mentioned in subsection (1). (3) A statement may not be used by virtue of subsection (2)(c) against a financial institution unless evidence relating to it is adduced or a question relating to it is asked by or on behalf of the financial institution in the proceedings arising out of the prosecution.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_171\", \"num\": \"171.\", \"text\": \"Disclosure of information 171. A customer information order has effect notwithstanding any restriction on the disclosure of information however imposed.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_172\", \"num\": \"172.\", \"text\": \"Supplementary: applications for customer information orders 172. (1) An application for a customer information order may be made ex parte to a judge in chambers. (2) The Rules Committee may make rules of court providing for the practice and procedure to be followed in proceedings relating to customer information orders. (3) An application to discharge or to vary a customer information order may be made to the court by the person who applied for the order or any person affected by the order. Proceeds of Crime Act (2025 Revision) (4) Upon the hearing of an application the court may discharge or vary the order. (5) Where a constable or a customs officer applies for a customer information order, an application to discharge or vary the order does not have to be made by the same officer, constable or customs officer; and references to a person who applied for a customer information order shall be construed accordingly. (6) A constable or a customs officer may not make an application for a customer information order or an application to vary such an order unless that person is a senior appropriate officer or that person is authorised to do so by a senior appropriate officer. Account monitoring orders\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_173\", \"num\": \"173.\", \"text\": \"Account monitoring orders 173. (1) A judge may, on an application made to that judge by an appropriate officer, make an account monitoring order if that judge is satisfied that each of the requirements set out in subsection (3) for the making of the order is fulfilled. (2) An account monitoring order is an order that the financial institution specified in the application for the order shall, for the period stated in the order, provide account information of the description specified in the order to an appropriate officer in the manner, and at or by the time or times, stated in the order. (3) An application for an account monitoring order shall state that \u2014 (a) a person specified in the application is subject to a confiscation investigation or a money laundering investigation; or (b) property specified in the application is subject to a civil recovery investigation and a person specified in the application appears to hold the property; and (c) the order is sought for the purposes of the investigation; and (d) the order is sought against the financial institution specified in the application in relation to account information of the description so specified. (4) Account information is information relating to an account or accounts held at the financial institution specified in the application by the person so specified whether held solely or jointly with another. (5) An application for an account monitoring order may specify information relating to \u2014 (a) all accounts held by the person specified in the application for the order at the financial institution so specified; (b) a particular description, or particular descriptions, of accounts so held, or (c) a particular account, or particular accounts, so held. Proceeds of Crime Act (2025 Revision) (6) The period stated in an account monitoring order shall not exceed the period of ninety days beginning with the day on which the order is made.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_174\", \"num\": \"174.\", \"text\": \"Requirements for making of account monitoring order 174. A court may make an account monitoring order if it is satisfied that \u2014 (a) in the case of a confiscation investigation, there are reasonable grounds for suspecting that the person specified in the application for the order has benefited from that person\u2019s criminal conduct; (b) in the case of a civil recovery investigation, there are reasonable grounds for suspecting that \u2014 (i) the property specified in the application for the order is recoverable property or associated property; and (ii) the person specified in the application holds all or some of the property; (c) in the case of a money laundering investigation, there are reasonable grounds for suspecting that the person specified in the application for the order has committed a money laundering offence; (d) in the case of any investigation, there are reasonable grounds for believing that account information which may be provided in compliance with the order is likely to be of substantial value (whether or not by itself) to the investigation for the purposes of which the order is sought; or (e) in the case of any investigation, there are reasonable grounds for believing that it is in the public interest for the account information to be provided, having regard to the benefit likely to accrue to the investigation if the information is obtained.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_175\", \"num\": \"175.\", \"text\": \"Statements: account monitoring orders 175. (1) A statement made by a financial institution in response to an account monitoring order may not be used in evidence against it in criminal proceedings. (2) Subsection (1) does not apply \u2014 (a) in the case of proceedings under Part 3; (b) in the case of proceedings for contempt of court; or (c) on a prosecution for an offence where, in giving evidence, the financial institution makes a statement inconsistent with the statement mentioned in subsection (1). (3) A statement may not be used by virtue of subsection (2)(c) against a financial institution unless evidence relating to it is adduced or a question relating to it is asked by or on behalf of the financial institution in the proceedings arising out of the prosecution. Proceeds of Crime Act (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_176\", \"num\": \"176.\", \"text\": \"Applications 176. An application for an account monitoring order may be made ex parte to a judge in chambers.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_177\", \"num\": \"177.\", \"text\": \"Disclosure of information 177. An account monitoring order has effect notwithstanding any restriction on the disclosure of information however imposed.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_178\", \"num\": \"178.\", \"text\": \"Supplementary: account monitoring orders 178. (1) The Rules Committee may make rules of court providing for the practice and procedure to be followed in connection with proceedings relating to account monitoring orders. (2) An application to discharge or vary an account monitoring order may be made to the court by the person who applied for the order or any person affected by the order. (3) The court may vary or discharge an account monitoring order. (4) Where a constable or a customs officer applies for an account monitoring order, an application to discharge or vary the order does not have to be made by the same officer of the Financial Reporting Authority, constable or customs officer; and references to a person who applied for an account monitoring order shall be construed accordingly. Evidence overseas\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_179\", \"num\": \"179.\", \"text\": \"Evidence overseas 179. (1) This section applies where there is an investigation touching a matter arising under this Act. (2) A judge on the application of the Director of Public Prosecutions or a person subject to the investigation may issue a letter of request if that judge thinks that there is evidence in a country or territory outside the Islands of the commission of a criminal offence, criminal conduct or unlawful conduct and that such person has benefited from that person\u2019s criminal conduct or there is evidence of the extent or whereabouts of that person\u2019s benefit from that person\u2019s criminal offence, criminal conduct or unlawful conduct. (3) A letter of request is a letter requesting assistance in obtaining outside the Islands such evidence as is specified in the letter for use in the investigation. (4) If the Governor believes it is appropriate to do so that Governor may forward a letter received under subsection (2) \u2014 (a) to a court or tribunal which is specified in the letter and which exercises jurisdiction in the place where the evidence is to be obtained, or Proceeds of Crime Act (2025 Revision) (b) to an authority recognised by the government of the country or territory concerned as the appropriate authority for receiving letters of request, but in a case of urgency the person issuing the letter of request may send it directly to the court or tribunal mentioned in paragraph (a). (5) Evidence obtained in pursuance of a letter of request shall not be used by any person other than the Director of Public Prosecutions or a person subject to the investigation or for any purpose other than that for which it is obtained. (6) Subsection (5) does not apply if the authority mentioned in subsection (4)(b) consents to the use. (7) For the purposes of this section, evidence includes documents and other articles. (8) The Rules Committee may make rules of court providing for the practice and procedure to be followed in connection with proceedings relating to the issue of letters of request by a judge under this section. Code of practice\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_180\", \"num\": \"180.\", \"text\": \"Code of practice 180. (1) The Cabinet shall, upon the recommendation of the Commissioner of Police and the Director of Customs and Border Control, prepare a code of practice as to the exercise by the Director, officers of the Authority, constables and customs officers of functions under this Part. (2) After preparing a draft of the code the Cabinet shall publish the draft and consider any representations made to it about the draft; and it may thereafter amend the draft accordingly. (3) The Cabinet shall bring the code into operation on such day as it may appoint by order. (4) A person specified in subsection (1) shall comply with a code of practice which is in operation under this section in the exercise of any function that person has under this Part; and where such a person fails to comply with any provision of such a code of practice that person is not by reason only of that failure liable in any criminal or civil proceedings. (5) Notwithstanding subsection (4), the code of practice is admissible in evidence in criminal or civil proceedings and a court may take account of any failure to comply with its provisions in determining any question in the proceedings. (6) The Cabinet may from time to time revise a code previously brought into operation under this section; and the preceding provisions of this section apply to a revised code as they apply to the code as first prepared. Proceeds of Crime Act (2025 Revision) Interpretation\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_181\", \"num\": \"181.\", \"text\": \"Money laundering offences 181. For the purposes of confiscation or a money laundering investigation, each of the following is an offence relating to money laundering \u2014 (a) an attempt, conspiracy or incitement to commit an offence specified in section 133, 134 or 135; (b) aiding, abetting, counselling or procuring the commission of an offence specified in section 133, 134 or 135.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_182\", \"num\": \"182.\", \"text\": \"Other interpretative provisions 182. (1) In this Act, \u201cfinancial institution\u201d means a person carrying on a business in the regulated sector. (2) A person who ceases to carry on a business in the regulated sector (whether by virtue of paragraph 2 of Schedule 5 or otherwise) shall continue to be treated as a financial institution for the purposes of any requirement under a customer information order or an account monitoring order, to provide information which relates to a time when the person was a financial institution. (3) References to a business in the regulated sector shall be construed in accordance with Schedule 4. (4) References to notice in writing include references to notice given by electronic means. Part 7 - Insolvency, Etc.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_183\", \"num\": \"183.\", \"text\": \"Bankruptcy of defendant, etc. 183. (1) Where any order for bankruptcy is made against a person who holds realisable property \u2014 (a) any property for the time being subject to a restraint order made before the order for bankruptcy; and (b) any proceeds of property realised by virtue of this Act for the time being in the hands of a receiver appointed under section 52, is excluded from the property of the bankrupt for the purposes of the Bankruptcy Act (1997 Revision). (2) Where any order for bankruptcy is made against a person, the powers conferred on the Grand Court to make restraint orders or to apply the proceeds of realisation and other sums or on a receiver by such order appointed shall not be exercised in relation to \u2014 Proceeds of Crime Act (2025 Revision) (a) property for the time being comprised in the property of the bankrupt for the purposes of the Bankruptcy Act (1997 Revision); or (b) property which is to be applied for the benefit of creditors of the bankrupt by virtue of a condition imposed under section 68 of that Act. (3) Nothing in the Bankruptcy Act (1997 Revision) shall be taken as restricting, or enabling the restriction of, the exercise of the powers conferred on a receiver or on the Grand Court to make restraint orders or to apply the proceeds of realisation and such other sums. (4) Subsection (2) does not affect the enforcement of a charging order under the prior Law \u2014 (a) made before the order for bankruptcy was made; or (b) on property which was subject to a restraint order when the order for bankruptcy was made. (5) Where, in the case of a debtor \u2014 (a) the Trustee in Bankruptcy constituted by section 12 of the Bankruptcy Act (1997 Revision) has been ordered to become the receiver or manager of the property or business of the debtor; and (b) any property of the debtor is subject to a restraint order, the powers conferred on the Trustee by virtue of that Act do not apply to property for the time being subject to the restraint order. (6) Where any order for bankruptcy is made against a person who has directly or indirectly made a gift caught by this Act, sections 104 to 109 of the Bankruptcy Act (1997 Revision) shall not apply \u2014 (a) in respect of the making of the gift at any time when proceedings for an offence to which this Act applies have been instituted against that person and have not been concluded; or (b) when property of the person to whom the gift was made is subject to a restraint order or charging order.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_184\", \"num\": \"184.\", \"text\": \"Winding up of company holding realisable property 184. (1) Where realisable property is held by a company and an order for the winding up of the company has been made or a resolution has been passed by the company for the voluntary winding up, the functions of the liquidator (or any provisional liquidator) shall not be exercisable in relation to \u2014 (a) property for the time being subject to a restraint order made before the relevant time; and (b) any proceeds of property realised by virtue of this Act for the time being in the hands of a receiver appointed under section 52. Proceeds of Crime Act (2025 Revision) (2) Where, in the case of a company, such an order has been made or such a resolution has been passed, the powers conferred on the Grand Court under this Act to make restraint orders or to order the realisation of property on a receiver appointed by the order shall not be exercised in relation to any realisable property held by the company in relation to which the functions of the liquidator are exercisable \u2014 (a) so as to inhibit that liquidator from exercising those functions for the purpose of distributing any property held by the company to the company\u2019s creditors; or (b) so as to prevent the payment out of any property of any expenses (including the remuneration of the liquidator or any provisional liquidator) properly incurred in the winding up in respect of the property. (3) Subsection (2) does not affect the enforcement of a charging order made under the prior Law and made before the relevant time or on property which was subject to a restraint order at the relevant time. (4) In this section \u201crelevant time\u201d means \u2014 (a) where no order for the winding up of the company has been made, the time of the passing of the resolution for voluntary winding up; (b) where such an order has been made and, before the presentation of the petition for the winding up of the company by the court, such a resolution had been passed by the company, the time of the passing of the resolution; and (c) in any other case where such an order has been made, the time of the making of the order.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_185\", \"num\": \"185.\", \"text\": \"Property subject to interim order, restraint order or disposal dealt with by trustee 185. (1) Without prejudice to the generality of any provision of any other enactment, where \u2014 (a) a trustee in bankruptcy, seizes or disposes of any property in relation to which that trustee in bankruptcy\u2019s functions are not exercisable because it is subject to an interim order, a restraint order or a civil forfeiture order, and (b) at the time of the seizure or disposal that trustee in bankruptcy believes, and has reasonable grounds for believing, that that trustee in bankruptcy is entitled (whether in pursuance of an order of a court or otherwise) to seize or dispose of that property, that trustee in bankruptcy shall not be liable to any person in respect of any loss or damage resulting from the seizure or disposal except in so far as the loss or damage is caused by that trustee in bankruptcy\u2019s negligence in so acting, and Proceeds of Crime Act (2025 Revision) that trustee in bankruptcy shall have a lien on the property, or the proceeds of its sale, for such of that trustee in bankruptcy\u2019s expenses as were incurred in connection with the bankruptcy or other proceedings in relation to which the seizure or disposal purported to take place and for so much of that trustee in bankruptcy\u2019s remuneration as may reasonably be assigned for that trustee in bankruptcy\u2019s acting in connection with those proceedings. (2) Where the trustee appointed as aforesaid incurs expenses in respect of such property as is mentioned in subsection (1) (a) and in so doing does not know and has no reasonable grounds to believe that the property is for the time being subject to an order under this Act, that trustee shall be entitled (whether or not that trustee has seized or disposed of that property so as to have a lien) to payment of those expenses.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_186\", \"num\": \"186.\", \"text\": \"Meaning of insolvency practitioner 186. The expression \u201cperson acting as an insolvency practitioner\u201d includes the trustee in bankruptcy and the Official Receiver acting as receiver or manager of the property concerned. Part 8 - Co-operation\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_187\", \"num\": \"187.\", \"text\": \"External requests and orders 187. Schedule 5 shall apply to external confiscation orders and to any proceedings which have been, or are to be, instituted and which may result in external confiscation orders being made in foreign countries.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_188\", \"num\": \"188.\", \"text\": \"Registration of external confiscation orders 188. (1) On an application made by the Director of Public Prosecutions on behalf of the Government of a foreign country, the Grand Court may, subject to subsection (3), register an external confiscation order made there if \u2014 (a) the amount payable under the external confiscation order is at least thirty thousand dollars, except that the court may register an order where the amount payable is less if the Director of Public Prosecutions certifies that it is in the public interest to register the order; (b) it is satisfied that, at the time of registration, the order is in force and not subject to appeal; (c) it is satisfied, where the person against whom the order so made did not appear in the proceedings, that that person received notice of the proceedings in sufficient time to enable that person to defend them; and (d) it is of the opinion that enforcing the order in the Islands would not be contrary to the interests of justice. Proceeds of Crime Act (2025 Revision) (2) In subsection (1) \u201cappeal\u201d includes \u2014 (a) any proceedings by way of discharging or setting aside a judgment; and (b) an application for a new trial or stay of execution. (3) The Grand Court shall not register an external confiscation order made in a foreign country \u2014 (a) where the Director of Public Prosecutions has issued a certificate to the effect that the application to register the order is contrary to the public interest of the Islands; or (b) where the facts described in the statement made under paragraph (a) of section 191 or in the affidavit made under paragraph 8 of Schedule 5 do not amount to criminal conduct. (4) The Grand Court shall cancel the registration of an external confiscation order if it appears to the court that the order has been satisfied by payment of the amount due under it, by the person against whom it was made serving imprisonment in default of payment or by any other means.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_189\", \"num\": \"189.\", \"text\": \"Proof of orders and judgments of courts of a foreign country 189. (1) For the purposes of external confiscation \u2014 (a) any order made or judgment given by a court of a foreign country purporting to bear the seal of that court or to be signed by any person in that person\u2019s capacity as a judge, magistrate or officer of the court, shall be deemed without further proof to have been duly sealed or, as the case may be, to have been signed by that person; and (b) a document, duly authenticated, which purports to be a copy of any order made or judgment given by a court of a foreign country shall be deemed without further proof to be a true copy. (2) A document purporting to be a copy of any order made or judgment given by a court of a foreign country is duly authenticated for the purpose of paragraph (b) of subsection (1) if it purports to be certified by any person in that person\u2019s capacity as a judge, magistrate or officer of the court in question or by or on behalf of the appropriate authority of the foreign country.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_190\", \"num\": \"190.\", \"text\": \"Evidence in relation to proceedings and orders in a foreign country 190. (1) For the purposes of external confiscation, a certificate purporting to be issued by or on behalf of the appropriate authority of a foreign country stating \u2014 (a) that proceedings have been instituted and have not been concluded, or that proceedings are to be instituted, in that foreign country; (b) that an external confiscation order is in force and is not subject to appeal; Proceeds of Crime Act (2025 Revision) (c) that all or a certain amount payable under an external confiscation order remains unpaid in the foreign country, or that other property recoverable under an external confiscation order remains unrecovered there; (d) that any person has been notified of any proceedings in accordance with the law of the foreign country; or (e) that an order (however described) made by a court of the foreign country has the purpose \u2014 (i) of recovering property obtained as a result of or in connection with conduct to which this Act applies or the value of property so obtained; or (ii) of depriving a person of a pecuniary advantage so obtained, shall, in any proceedings in the Grand Court, be admissible as evidence of the facts so stated. (2) In any such proceedings a statement contained in a document, duly authenticated, which purports to have been received in evidence or to be a copy of a document so received, or to set out or summarise evidence given in proceedings in a court of a foreign country, shall be admissible as evidence of any fact stated therein. (3) A document is duly authenticated for the purposes of subsection (2) if it purports to be certified by any person in that person\u2019s capacity as a judge, magistrate or officer of the court of the foreign country, or by or on behalf of the appropriate authority of the foreign country, to have been received in evidence or to be a copy of a document so received, or, as the case may be, to be the original document containing or summarising the evidence or a true copy of that document. (4) Nothing in this section shall prejudice the admission of any evidence, whether contained in any document or otherwise, which is admissible apart from this section.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_191\", \"num\": \"191.\", \"text\": \"Representation of government of a foreign country 191. A request for assistance sent to the Director of Public Prosecutions by the appropriate authority of a foreign country shall \u2014 (a) be accompanied by a statement of the facts, either alleged or proved, in respect of which proceedings have been, or are about to be, instituted which have resulted, or may result, in an external confiscation order being made; and (b) unless the contrary is shown, be deemed to constitute the authority of the government of that country for the Director of Public Prosecutions to act on its behalf in any proceedings in the Grand Court under this Act. Proceeds of Crime Act (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_192\", \"num\": \"192.\", \"text\": \"Satisfaction of confiscation order in a foreign country 192. (1) Where \u2014 (a) a confiscation order has been made under this Act; (b) a request has been sent by the Director of Public Prosecutions to the appropriate authority of a foreign country for assistance in enforcing that order; and (c) in execution of that request, property is recovered in that country, the amount payable under the confiscation order shall be treated as reduced by the value of the property so recovered. (2) For the purposes of subsection (1), and without prejudice to the admissibility of any evidence which may be admissible apart from this subsection, a certificate purporting to be issued by or on behalf of the appropriate authority of a foreign country stating that property has been recovered there in execution of a request by the Director of Public Prosecutions, stating the value of the property so recovered and the date on which it was recovered shall, in any proceedings in a court in the Islands, be admissible as evidence of the facts so stated.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_193\", \"num\": \"193.\", \"text\": \"Currency conversion 193. (1) Where the value of property recovered as described in section 192(1) is expressed in a currency other than that of the Islands, the extent to which the amount payable under the confiscation order is to be reduced under that paragraph shall be calculated on the basis of the exchange rate prevailing on the date on which the property was recovered in the foreign country concerned. (2) Where an amount of money payable or remaining to be paid under an external confiscation order registered in the Grand Court under Part 8 is expressed in a currency other than that of the Islands, for the purpose of any action taken in relation to that order under this Act as applied by this Act the amount shall be converted into the currency of the Islands on the basis of the exchange rate prevailing on the date of the registration of the order. (3) For the purposes of this section, a written certificate purporting to be signed by any person acting in that person\u2019s capacity as an officer of any bank holding a current valid class \u201cA\u201d licence, within the meaning of the Banks and Trust Companies Act (2025 Revision), and stating the exchange rate prevailing on a specified date shall be admissible as evidence of the facts so stated.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_194\", \"num\": \"194.\", \"text\": \"Rules of court 194. The Rules Committee shall make rules of court for the purpose of external confiscation orders. Proceeds of Crime Act (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_195\", \"num\": \"195.\", \"text\": \"Interpretation 195. (1) A request, when used in relation to an external confiscation order or the seeking of it is a request by an overseas authority to prohibit dealing with relevant property which is identified in the request. (2) An external confiscation order is an order which \u2014 (a) is made by an overseas court where property is found or believed to have been obtained as a result of or in connection with, and (b) is for the recovery of specified property or a specified sum of money. (3) An external investigation is an investigation by an overseas authority into \u2014 (a) whether property has been obtained as a result of or in connection with criminal conduct; or (b) whether a money laundering offence has been committed. (4) Property is relevant property if there are reasonable grounds to believe that it may be needed to satisfy an external order which has been or which may be made. (5) An overseas court is a court of a country or territory outside the Islands. (6) An overseas authority is an authority which has responsibility in a country or territory outside the Islands \u2014 (a) for making a request to an authority in another country or territory (including the Islands) to prohibit dealing with relevant property; (b) for carrying out an investigation into whether property has been obtained as a result of or in connection with criminal conduct; and (c) for carrying out an investigation into whether a money laundering offence has been committed. Part 9 - Miscellaneous and General\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_196\", \"num\": \"196.\", \"text\": \"Extradition where Schedule 1 to the Extradition Act 2003 applies 196. The offences to which the Extradition Act (Overseas Territories) Order 2016 (UKSI 2016\/990) and any other Order in Council made under sections 177, 178 and 224(2) of the Extradition Act 2003 of the United Kingdom (Cap 41) can apply shall include \u2014 (a) offences under this Act; (b) any conspiracy to commit such an offence; and (c) any attempt to commit an offence under this Act. Proceeds of Crime Act (2025 Revision)\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_197\", \"num\": \"197.\", \"text\": \"No third party claims on confiscated or forfeited property 197. Where property is lawfully confiscated or forfeited under this Act and all proceedings or appeal processes have been exhausted or are time-barred, no third party shall be entitled to make a claim to that property and no such claim shall be entertained by a court of law or any other person or authority.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_198\", \"num\": \"198.\", \"text\": \"Costs 198. Notwithstanding any other Law or rule of court, costs shall not be awarded against the Director of Public Prosecutions \u2014 (a) where, under this Act or any other Law \u2014 (i) the Director of Public Prosecutions has applied by written notice to the Grand Court for the grant or enforcement of a confiscation order; (ii) the Director of Public Prosecutions has made an application for a restraint order or related order; (iii) the Director of Public Prosecutions has made an application for an order under Part 4; (iv) the Director of Public Prosecutions, on behalf of the government of a foreign country, has made an application for an order under this Act, and the Grand Court determines that it will not make the order concerned; or (b) where the Grand Court has varied or discharged an order made under this Act, unless it is shown to the satisfaction of the Grand Court that the Director of Public Prosecutions\u2019 application in relation to the order concerned was made in bad faith or was frivolous or vexatious.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_199\", \"num\": \"199.\", \"text\": \"Companies and other business entities formed for criminal purposes 199. Any person involved in the formation or operation of a company or other business entity (at whatever level) that is formed for a criminal purpose shall be deemed to fall within the provisions of this Act unless that person can show on a balance of probabilities that that person did not know or cannot be expected to have known that the company or business entity concerned was formed for a criminal purpose. Proceeds of Crime Act (2025 Revision) 199A. Power of Supervisory Authority to enter, search, etc. 199A.(1) Where a Supervisory Authority reasonably suspects or is informed that a person who is required to comply with regulation 55F of the Anti-Money Laundering Regulations (2025 Revision) has not complied, an appropriate officer may lay before a magistrate or a justice of the peace an information on oath setting out the grounds for the suspicion and apply for the issue of a warrant to search the premises. (2) Where an application is made under subsection (1) for a warrant, the magistrate or justice of the peace may issue a warrant authorising the appropriate officer to enter upon the premises and search and inspect the premises with such assistance, including assistance from a police officer, and by such force as is necessary and reasonable, and to \u2014 (a) examine, inspect, make copies of, seize or remove any document or record that the appropriate officer or police officer has reasonable grounds to believe is evidence of the contravention; and (b) seize any equipment or other property found on the premises in the course of the search that the appropriate officer or police officer has reasonable grounds to believe is being used in the contravention of regulation 55F.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_200\", \"num\": \"200.\", \"text\": \"Implied repeal 200. Superseded by the Terrorism Act (2018 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_201\", \"num\": \"201.\", \"text\": \"Regulations 201. (1) The Cabinet may make regulations for giving effect to this Act and such regulations may \u2014 (a) make different provision for different purposes; (b) provide for the making of immediate and interim short-term restraint orders not exceeding seventy-two hours; (c) prescribe that confiscation orders be applied for only by such person as the regulations may specify; (d) specify the need or otherwise for a prosecuting attorney where an application is made for a production order, it being understood that in the absence of such regulations, prosecuting attorney need not be present; (e) limit, in exceptional circumstances, the recovery of costs of complying with orders of the Grand Court, subject only to section 198; and (f) make supplementary, incidental, saving or transitional provisions. (2) Without limiting the generality of subsection (1) the Cabinet may by order make such provision as it considers appropriate for or in connection with \u2014 Proceeds of Crime Act (2025 Revision) (a) enabling confiscation orders under this Act but such order may not enable a confiscation order to be made by any summary court in respect of an amount exceeding one hundred thousand dollars; (b) the appointment of an Official Receiver of property that may be confiscated or restrained under this Act, and such Official Receiver shall also be Trustee for Civil Recovery for purposes of this Act, and, in the Cabinet\u2019s discretion, may undertake this work exclusively or simultaneously with any other position that person may hold in government. (3) The Cabinet may, by Order, designate a jurisdiction as one which has serious deficiencies in its compliance with recognised international standards for combating money laundering and the financing of terrorism and, as a result of that, require the application of counter-measures proportionate to the risk posed by that jurisdiction. (3A) The counter-measures under subsection (3) may include that dealings shall not be conducted with that jurisdiction or that enhanced due diligence be applied to \u2014 (a) transactions involving certain entities or class of entities; or (b) certain transactions or class of transactions. (3B) An Order under subsection (3) may also be made by the Cabinet on the recommendation of either the Anti-Money Laundering Steering Group or the Financial Action Task Force. (4) In making the recommendation under subsection (3B) the matters to be considered by the Steering Group, the form, duration and effect of the Order shall be prescribed by the Cabinet. (5) For the purposes of this Part, \u201cFinancial Action Task Force\u201d means the task force established by the intergovernmental organisation, Group of Seven (G-7), to develop and promote national and international policies to combat money laundering and terrorist financing.\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_202\", \"num\": \"202.\", \"text\": \"Repeals 202. The following are repealed \u2014 (a) the Proceeds of Criminal Conduct Law (2007 Revision); and (b) sections 31 to 42 and 46 to 48 of the Misuse of Drugs Act (2000 Revision).\", \"element\": \"section\", \"heading\": null}, {\"eId\": \"sec_203\", \"num\": \"203.\", \"text\": \"Savings and transitional 203. (1) For the purposes of this section \u201cthis Law\u201d means the Proceeds of Crime Law, 2008 [Law 10 of 2008]. (2) Notwithstanding section 202 \u2014 Proceeds of Crime Act (2025 Revision) (a) proceedings in respect of a criminal offence or a suspected criminal offence or relating to any matter provided for under the Proceeds of Criminal Conduct Law (2007 Revision) or the Misuse of Drugs Law (2000 Revision) which had commenced before the 30th September, 2008, the date of the commencement of this Law, shall proceed and be determined as if the Proceeds of Criminal Conduct Law (2007 Revision) or the repealed provisions of the Misuse of Drugs Law (2000 Revision) continue to have effect; (b) proceedings in respect of a criminal offence or a suspected criminal offence or relating to any matter provided for under the Criminal Justice (International Cooperation) Law (2004 Revision) which had commenced before the 30th September, 2008. the date of the commencement of this Law, shall proceed and be determined as if the Proceeds of Criminal Conduct Law (2007 Revision) continues to have effect, but this paragraph shall not be read so as to restrict the general operation of the Criminal Justice (International Co-operation) Law (2004 Revision) in relation to matters not falling within the scope of this Law; and (c) the Misuse of Drugs (Drug Trafficking Offences) (Designated Countries) Order, 1991 and any regulations made thereunder and in force at the commencement of this Law shall, to the extent that they are not inconsistent with this Law, continue to be valid as if made under this Law; (d) regulations made under the Proceeds of Criminal Conduct Law (2007 Revision) and which are in force at the 30th September, 2008, the date of commencement of this Law, shall be deemed to have been made under this Law so long as they are not inconsistent with this Law; (e) guidance notes made under regulations referred to in paragraph (d) which are in force at the 30th September, 2008, the date of commencement of this Law shall be deemed to have been made under the regulations saved by that paragraph so long as the notes are not inconsistent with the regulations or this Law. (3) All proceedings pending at 2nd January, 2025, the date of the commencement of the Proceeds of Crime (Amendment) Act, 2023 (Act 12 of 2023), in respect of offences committed or alleged to have been committed against this Act and to which any of the provisions in sections 8, 9, 11, 12, 13 and 15 of the Proceeds of Crime (Amendment) Act, 2023 (Act 12 of 2023) apply, shall be continued and dealt with under this Act. Proceeds of Crime Act (2025 Revision) Proceeds of Crime Act (2025 Revision) SCHEDULE 1 SCHEDULE 1 Lifestyle Offences (section 68) 1 - Drug trafficking 1. (1) An offence under any of the following provisions of the Misuse of Drugs Act (2017 Revision) \u2014 (a) section 3(1)(a) to (k) and (m) and section 3(2); (b) section 4; (c) section 11; and (d) section 19. (2) An offence under section 55 or 58 of the Customs and Border Control Act (2024 Revision). 2 - Money laundering 2. An offence under either of the following provisions of this Act \u2014 (a) section 133 (concealing, etc., criminal property); (b) section 134 (assisting another to retain criminal property). 3 - Directing terrorism 3. An offence under section 14 of the Terrorism Act (2018 Revision). 4 - People trafficking 4. An offence under section 105 of the the Customs and Border Control Act (2024 Revision) (assisting illegal entry, etc). 5 - Arms trafficking 5. (1) An offence under section 55 or 56 of the Customs and Border Control Act (2024 Revision) if it is committed in connection with a firearm or ammunition. (2) An offence under section 3(1), 8(3) or 8 (5) of the Firearms Act (2025 Revision) (importing or exporting or dealing unlawfully in firearms or ammunition). (3) In this paragraph \u201cfirearm\u201d has the same meaning as in section 2 of the Firearms Act (2025 Revision). SCHEDULE 1 Proceeds of Crime Act (2025 Revision) 6 - Counterfeiting and forgery 6. An offence under section 295, 301 and 303 of the Penal Code (2024 Revision). 7 - Intellectual property 7. (1) Any of the following offences of the copyright legislation relating to the Islands \u2014 (a) making or dealing in an article which infringes copyright; (b) making or possessing an article designed or adapted for making a copy of a copyright work; (c) making or dealing in an illicit recording; or (d) making or dealing in unauthorised decoders. (2) An offence under section 317 of the Penal Code (2024 Revision). 8 - Pimps and brothels 8. An offence under any of the following provisions of the Penal Code (2024 Revision) \u2014 (a) section 134; (b) section 136; (c) section 137; and (d) section 138. 9 - Blackmail 9. An offence under section 259 of the Penal Code (2024 Revision) (blackmail). 9A - Gambling offences 9A. An offence under any of the following provisions in the Gambling Act (2016 Revision) \u2014 (a) section 4(a), (b), (c), (d) and (h); (b) section 10; (c) section 20; (d) section 21; and (e) section 22(1)(a) and (c). Proceeds of Crime Act (2025 Revision) SCHEDULE 1 10 - Inchoate offences 10. (1) An offence of attempting, conspiring or inciting the commission of an offence specified in this Schedule. (2) An offence of aiding, abetting, counselling or procuring the commission of such an offence. SCHEDULE 2 Proceeds of Crime Act (2025 Revision) SCHEDULE 2 Powers of Official Receiver During an Interim Receiving Order (section 88) 1 - Seizure 1. Power to seize property to which the order applies. 2 - Information 2. (1) Power to obtain information or to require a person to answer any question. (2) A requirement imposed in the exercise of the power has effect in spite of any restriction on the disclosure of information (however imposed). (3) An answer given by a person in pursuance of such a requirement may not be used in evidence against that person in criminal proceedings. (4) Subparagraph (3) does not apply \u2014 (a) on a prosecution for an offence under section 101 of the Penal Code (2024 Revision) (perjury); or (b) on a prosecution for some other offence where, in giving evidence, that person makes a statement inconsistent with it. (5) An answer may not be used by virtue of subparagraph (4)(b) against a person unless \u2014 (a) evidence relating to it is adduced; or (b) a question relating to it is asked, by that person or on that person\u2019s behalf in the proceedings arising out of the prosecution. 3 - Entry, search, etc. 3. (1) Power to \u2014 (a) enter any premises in the Islands to which the interim order applies; and (b) take any of the following steps \u2014 (i) to carry out a search for or inspection of anything described in the order; (ii) to make or obtain a copy, photograph or other record of anything so described; or (iii) to remove anything which that person is required to take possession of in pursuance of the order or which may be required as evidence in Proceeds of Crime Act (2025 Revision) SCHEDULE 2 the proceedings under Part 4 relating to the civil recovery orders in the Grand Court. (2) The order may describe anything generally, whether by reference to a class or otherwise. 4 - Supplementary 4. (1) An order making any provision under paragraph 2 or 3 shall make provision in respect of legal professional privilege. (2) An order making any provision under paragraph 3 may require any person \u2014 (a) to give the Official Receiver access to any premises which that Official Receiver may enter in pursuance of paragraph 3; (b) to give the Official Receiver any assistance that Official Receiver may require for taking the steps mentioned in that paragraph. 5 - Management 5. (1) Power to manage any property to which the order applies. (2) Managing property includes \u2014 (a) selling or otherwise disposing of assets comprised in the property which are perishable or which ought to be disposed of before their value diminishes; (b) where the property comprises assets of a trade or business, carrying on, or arranging for another to carry on, the trade or business; and (c) incurring capital expenditure in respect of the property. SCHEDULE 3 Proceeds of Crime Act (2025 Revision) SCHEDULE 3 Powers of Trustee for Civil Recovery (section 97) 1 - Sale 1. Power to sell the property or any part of it or interest in it. 2 - Expenditure 2. Power to incur expenditure for the purpose of \u2014 (a) acquiring any part of the property, or any interest in it, which is not vested in that person; (b) discharging any liabilities, or extinguishing any rights, to which the property is subject. 3 - Management 3. (1) Power to manage property. (2) Managing property includes doing anything mentioned in paragraph 5(2) of Schedule 2. 4 - Legal proceedings 4. Power to start, carry on or defend any legal proceedings in respect of the property. 5 - Compromise 5. Power to make any compromise or other arrangement in connection with any claim relating to the property. 6 - Supplementary 6. (1) For the purposes of, or in connection with, the exercise of any of that Trustee for Civil Recovery\u2019s powers \u2014 (a) power by that Trustee for Civil Recovery to do any of the following \u2014 (i) holding property; (ii) entering into contracts; (iii) suing and being sued; (iv) employing agents; Proceeds of Crime Act (2025 Revision) SCHEDULE 3 (v) executing a power of attorney, deed or other instrument; and (b) power to do any other act which is necessary. SCHEDULE 4 Proceeds of Crime Act (2025 Revision) SCHEDULE 4 Regulated Sector (sections 136 and 181) 1 - Business in the regulated sector 1. For the purposes of this Act \u201cregulated sector\u201d means that part of the business community in the Islands which is regulated by any one or more of the Acts listed below in this paragraph or any person who carries on any one or more of the activities regulated thereby or any person who carries on such relevant financial business or may be prescribed under paragraph 3 of this Schedule \u2014 (a) Banks and Trust Companies Act (2025 Revision); (b) Building Societies Act (2020 Revision); (c) Companies Management Act (2025 Revision); (d) Cooperative Societies Act (2020 Revision); (e) Insurance Act, 2010 [Law 32 of 2010]; (f) Money Services Act (2020 Revision); (g) Mutual Funds Act (2025 Revision); (h) Securities Investment Business Act (2020 Revision); and (i) the activity of dealing in goods of any description by way of business (including dealing as an auctioneer) whenever a transaction involves accepting a total cash payment of fifteen thousand dollars of more; and (j) any other laws that may be prescribed by the Cabinet by regulations made under section 46 of the Monetary Authority Act (2020 Revision). 2. Repealed by section 9 of the Proceeds of Crime (Amendment) Law, 2016 [Law 20 of 2016]. 3. The Cabinet may by Order amend this Schedule. Proceeds of Crime Act (2025 Revision) SCHEDULE 5 SCHEDULE 5 Modifications to this Act When Applied to External Confiscation Orders and Related Proceedings (section 187) 1 - Introductory 1. This Schedule shall apply to external confiscation orders registered under this Act and to any proceedings which have been or are to be instituted and which may result in such external confiscation orders being made and, to the extent that it is at variance with this Act in relation to the administration and enforcement of external confiscation orders and proceedings which may result in external confiscation orders, the terms of this Schedule shall prevail. 2 - General interpretation 2. In this Schedule \u2014 (1) The expressions listed in the left-hand column below are respectively defined or (as the case may be) fall to be construed in accordance with the provisions of this Schedule listed in the right-hand column in relation to those expressions. Expression Relevant Expression Dealing with property paragraph 6(9) Defendant paragraph 3(1)(b) Gift caught by this Schedule paragraph 3(4) Conduct to which this Schedule applies paragraph 3(1)(a) Realisable property paragraph 3(2) Restraint order paragraph 6(1). (2) Proceedings are instituted in a particular country when \u2014 (a) under the law of the foreign country concerned, one of the steps specified in relation to that country in an order made under this Act has been taken there in respect of alleged conduct by the defendant to which this Act applies; or (b) an application has been made to a court in a foreign country for a confiscation order, SCHEDULE 5 Proceeds of Crime Act (2025 Revision) and where the application of this paragraph would result in there being more than one time for the institution of proceedings, they shall be taken to have been instituted at the earliest of those times. (3) Proceedings are concluded \u2014 (a) when (disregarding any power of a court to grant leave to appeal out of time) there is no further possibility of an external confiscation order being made in the proceedings; or (b) on the satisfaction of an external confiscation order made in the proceedings (whether by the recovery of all property liable to be recovered, or the payment of any amount due, or otherwise). 3 - Definition of principal terms used 3. (1) In this Schedule \u2014 (a) references to conduct to which this Schedule applies are references to conduct which constitutes an offence to which this Act applies or would constitute such an offence if it had occurred in the Islands; and (b) a person against whom an external confiscation order has been made, or a person against whom proceedings which may result in an external confiscation order being made have been, or are to be, instituted in a court of a foreign country, is referred to as \u201cthe defendant\u201d. (2) In this Schedule \u201crealisable property\u201d, subject to subparagraph (3), means \u2014 (a) in relation to an external confiscation order in respect of specified property, the property which is specified in the order; and (b) in any other case \u2014 (i) any property held by the defendant; and (ii) any property held by a person to whom the defendant has directly or indirectly made a gift caught by this Act. (3) Property is not realisable property if an order under section 30 of the Misuse of Drugs Act (2017 Revision) is in force in respect of the property. (4) A gift (including a gift made before the 23rd December, 1996) is caught by this Schedule if \u2014 (a) it was made by the defendant at any time after the conduct to which the external confiscation order relates; and (b) the court considers it appropriate in all the circumstances to take the gift into account. Proceeds of Crime Act (2025 Revision) SCHEDULE 5 4 - Pecuniary advantage - equivalence 4. Where a person derives a pecuniary advantage as a result of or in connection with conduct to which this Schedule applies, that person is to be treated for the purposes of this Schedule as if that person had obtained, as a result of or in connection with the conduct, a sum of money equal to the value of the pecuniary advantage. 5 - Cases in which restraint orders may be made 5. (1) The powers conferred on the Grand Court by paragraph 6(1) are exercisable where \u2014 (a) proceedings have been instituted against the defendant in a foreign country; (b) the proceedings have not been concluded; and (c) either an external confiscation order has been made in the proceedings or it appears to the Grand Court that there are reasonable grounds for thinking that such an order may be made in them of at least the minimum amount. (2) Those powers are also exercisable where the Grand Court is satisfied that proceedings will be instituted against the defendant in a foreign country. (3) Where the court has made an order under paragraph 6(1) by virtue of subparagraph (2) \u2014 (a) the Director of Public Prosecutions shall notify the court immediately if proceedings have not been instituted; and (b) the court shall discharge the order if the proposed proceedings are not instituted. 6 - Restraint orders 6. (1) The Grand Court may, by order (referred to in this Schedule as a \u201crestraint order\u201d) prohibit any person from dealing with any realisable property, subject to such conditions and exceptions as may be specified in the order. (2) Without prejudice to subparagraph (1), a restraint order shall be subject to section 45(2) to (7). (3) A restraint order may apply \u2014 (a) where an application under subparagraph (4) relates to an external confiscation order made in respect of specified property, to property which is specified in that order; and (b) in any other case \u2014 (i) to all realisable property held by a specified person, whether the property is described in the restraint order or not; and SCHEDULE 5 Proceeds of Crime Act (2025 Revision) (ii) to realisable property held by a specified person, being property transferred to that person after the making of the restraint order. (4) A restraint order \u2014 (a) may be made only on an application by the Director of Public Prosecutions on behalf of the government of a foreign country or, in a case where an external confiscation order has been registered under section 187, by a receiver appointed under paragraph 9; (b) may be made on an ex parte application to a judge in chambers; and (c) notwithstanding anything in Order 11 of the Grand Court Rules (2023 Revision), may provide for service on, or the provision of notice to, persons affected by the order in such manner as the Grand Court may direct. (5) A restraint order \u2014 (a) may be discharged or varied in relation to any property; and (b) shall be discharged when the proceedings in relation to which the order was made are concluded. (6) An application for the discharge or variation of a restraint order may be made by any person affected by it. (7) Where the Grand Court has made a restraint order, it may, at any time, appoint a receiver \u2014 (a) to take possession of any realisable property; and (b) in accordance with the court\u2019s directions, to manage or otherwise deal with any property in respect of which that person is appointed, subject to such exceptions and conditions as may be specified by the court; and may require any person having possession of property in respect of which a receiver is appointed under this section to give possession of it to the receiver. (8) For the purposes of this paragraph, dealing with any property held by any person includes \u2014 (a) where a debt is owed to that person, making a payment to any person in reduction of the amount of the debt; and (b) removing the property from the Islands. (9) Where the Grand Court has made a restraint order, a constable may, for the purpose of preventing any realisable property being removed from the Islands, seize the property. (10) Property seized under subparagraph (9) shall be dealt with in accordance with the court\u2019s directions. (11) In the case of a restraint order made in respect of land \u2014 Proceeds of Crime Act (2025 Revision) SCHEDULE 5 (a) the restraint order shall inhibit for a specified period of time or until the occurrence of a specified event, or generally until further order, the registration of any dealing with any land, lease or charge; and (b) a copy of the restraint order under the seal of the court, with the particulars of the land, lease or charge thereby affected shall be sent to the Registrar of Lands who shall register it in the Land Register maintained under section 9 of the Registered Land Act (2018 Revision) in respect of the land in question and no restraint order shall bind or affect the land, lease or charge until it has been registered; and (c) so long as the restraint order remains registered no instrument which is inconsistent with it shall be registered. 7 - Applications for restraint and orders 7. An application under paragraph 6(4) shall be accompanied by an affidavit, a declaration or any other written statement by the appropriate authority of the foreign country deposing to or specifying \u2014 (a) where proceedings have been instituted, the conduct in which the defendant is alleged to have engaged (exhibiting a copy of the indictment, information or charge), and the grounds for believing that the defendant engaged in that conduct; (b) where proceedings will be instituted, the conduct in which the defendant will be alleged to have engaged, and the grounds for believing that the defendant engaged in that conduct; (c) where an external confiscation order has been made, the amount payable under the confiscation order; (d) where an external confiscation order has not been made \u2014 (i) the grounds for the belief that the defendant derived a benefit of a stated amount as a result of the conduct; (ii) the grounds for the belief that the amount that might be realised is at least the stated amount; (iii) where the defendant proceedings have been instituted, the grounds for believing that an external confiscation order may be made and the amount likely to be payable under such a confiscation order; or (iv) where proceedings are to be instituted, the grounds for believing that an external confiscation order is likely to be made and the amount likely to be payable under such a confiscation order; (e) a description of the property in respect of which the order is sought; (f) the grounds for the belief that the property is realisable property; SCHEDULE 5 Proceeds of Crime Act (2025 Revision) (g) the name and address of the person who is believed to be in the possession of the property; and (h) the names and addresses of any parties who may have an interest in that property, and the nature of their interest. 8 - Realisation of property 8. Where an external confiscation order has been registered in the Grand Court under section 188, the Grand Court may, on the application of the Director of Public Prosecutions, exercise the following powers \u2014 (a) in respect of any sum of money payable under the external confiscation order, make a garnishee order as if the sum were due to the Crown in pursuance of a judgment or order of the Grand Court, but any such order shall direct that the sum payable be paid to the Grand Court; (b) appoint a receiver in respect of realisable property; (c) empower a receiver appointed under subsubparagraph (b), under paragraph 6 in relation to any realisable property other than property for the time being subject to a charge under paragraph 9, to take possession of the property subject to such conditions or exceptions as may be specified by the court; (d) order any person having possession of the property to give possession of it to any such receiver; (e) empower any such receiver to realise any realisable property in such manner as the court may direct; and (f) order any person holding an interest in realisable property to make such payment to the receiver in respect of any beneficial interest held by the defendant or, as the case may be, the recipient of a gift caught by this Schedule as the court may direct and the court may, on the payment being made, by order transfer, grant or extinguish any interest in the property. 9 - Application of proceeds of realisation and other sums 9. (1) Subject to subparagraph (2), such of any sums, being property of the defendant, as may be in the hands of the Official Receiver shall, after such payments, if any, as the Grand Court may direct have been made out of those sums, be paid to the Grand Court and applied for the purposes specified in subparagraphs (3) and (4) and in the order so specified. (2) Where a fixed amount is payable under the external confiscation order and, after that amount has been fully paid, any such sums remain in the hands of a receiver, the receiver shall distribute them \u2014 Proceeds of Crime Act (2025 Revision) SCHEDULE 5 (a) among such of those persons who held property which has been realised under this Schedule; and (b) in such proportions, as the Grand Court may direct after giving a reasonable opportunity for such persons to make representations to the court. 10 - Exercise of powers of Grand Court or receiver 10. (1) This paragraph applies to the powers conferred on the Grand Court by paragraphs 6, 8 and 9 on the Official Receiver. (2) Subject to subparagraphs (3) to (6), the powers shall be exercised with a view to recovering property which is liable to be recovered under an external confiscation order registered in the Grand Court or, as the case may be, with a view to making available for recovery property which may become liable to be recovered under any external confiscation order which may be made in the defendant\u2019s case. (3) In the case of realisable property held by a person to whom the defendant has directly or indirectly made a gift caught by this Schedule, the powers shall be exercised with a view to releasing no more than the value for the time being of the gift. (4) The powers shall be exercised with a view to allowing any person other than the defendant or the recipient of any such gift to retain or recover the value of any property held by that person. (5) An order may be made or other action taken in respect of a debt held by the Crown. (6) Subject to paragraph 3(2), in exercising those powers no account shall be taken of any obligations of the defendant or of the recipient of any such gift which conflict with the obligation to satisfy the external confiscation order. 11 - Bankruptcy of defendant, etc. 11. (1) Where any order for bankruptcy is made against a person who holds realisable property \u2014 (a) any property subject for the time being to a restraint order made before the order for bankruptcy; and (b) any proceeds of property realised by virtue of paragraph 6(8), or 8(e) or (f) for the time being in the hands of a receiver appointed under paragraph 6 or 8, is excluded from the property of the bankrupt for the purposes of the Bankruptcy Act (1997 Revision). SCHEDULE 5 Proceeds of Crime Act (2025 Revision) (2) Where any order for bankruptcy is made against a person, the powers conferred on the Grand Court by paragraphs 6, 8 and 9 or on a receiver appointed by such order shall not be exercised in relation to \u2014 (a) property for the time being comprised in the property of the bankrupt for the purposes of the Bankruptcy Act (1997 Revision); (b) property which is to be applied for the benefit of creditors of the bankrupt by virtue of a condition imposed under section 70 of that Act. (3) Nothing in the Bankruptcy Act (1997 Revision) shall be taken as restricting, or enabling the restriction of, the exercise of the enabling powers conferred on the Grand Court by paragraphs 6, 7, 9 and 10 or on a receiver. (4) Where in the case of a debtor \u2014 (a) the Trustee in Bankruptcy constituted by section 12 of the Bankruptcy Act (1997 Revision) has been ordered to become the receiver or manager of the property or business of the debtor; and (b) any property of the debtor is subject to a restraint order, the powers conferred on the Trustee by virtue of that Act do not apply to property for the time being subject to the restraint order. (5) Where any order for bankruptcy is made against a person who has directly or indirectly made a gift caught by this Schedule, sections 107 to 112 of the Bankruptcy Act (1997 Revision) shall not apply when property of the person to whom the gift was made is subject to a restraint order. 12 - Winding up of company holding realisable property 12. (1) Where realisable property is held by a company and an order for the winding up of the company has been made or a resolution has been passed by the company for the voluntary winding up, the functions of the liquidator (or any provisional liquidator) shall not be exercisable in relation to \u2014 (a) property for the time being subject to a restraint order made before the relevant time; and (b) any proceeds of property realised by virtue of paragraph 6(8), or 8(e) or (f) for the time being in the hands of a receiver appointed under paragraph 6 or 8. (2) Where, in the case of a company, such an order has been made or such a resolution has been passed, the powers conferred on the Grand Court by paragraphs 6 and 8 or on a receiver appointed by the order shall not be exercised in relation to any realisable property held by the company in relation to which the functions of the liquidator are exercisable \u2014 Proceeds of Crime Act (2025 Revision) SCHEDULE 5 (a) so as to inhibit that person from exercising those functions for the purpose of distributing any property held by the company to the company\u2019s creditors; or (b) so as to prevent the payment out of any property of any expenses (including the remuneration of the liquidator or any provisional liquidator) properly incurred in the winding up in respect of the property. (3) In this paragraph \u201crelevant time\u201d means \u2014 (a) where no order for the winding up of the company has been made, the time of the passing of the resolution for voluntary winding up; (b) where such an order has been made and, before the presentation of the petition for the winding up of the company by the court, such a resolution had been passed by the company, the time of the passing of the resolution; and (c) in any other case where such an order has been made, the time of the making of the order. 13 - Receivers: supplementary provisions 13. (1) Where the Official Receiver takes any action \u2014 (a) in relation to any property which is not realisable property, being action which that Official Receiver would be entitled to take if it were such property, (b) believing, and having reasonable grounds for believing, that that Official Receiver is entitled to take that action in relation to that property, that Official Receiver shall not be liable to any person in respect of any loss or damage resulting from that Official Receiver\u2019s action except insofar as the loss or damage is caused by that Official Receiver\u2019s negligence. (2) Any amount due in respect of the remuneration and expenses of a receiver so appointed shall, if no sum is available to be supplied in payment of it under paragraph 9(3), be paid by the person on whose application the receiver was appointed. 14 - Application of procedure for enforcing fines 14. (1) Where the Grand Court orders the defendant to pay an amount under this Schedule, sections 28 and 30 of the Penal Code (2024 Revision) shall have effect as if that amount were a fine imposed on that person by the Grand Court. (2) Where \u2014 (a) the court has directed that, in default of payment of an amount ordered to be paid under this Schedule in respect of an offence, the defendant shall serve a term of imprisonment; and SCHEDULE 5 Proceeds of Crime Act (2025 Revision) (b) at the time the direction is made, the defendant is liable to serve a term of imprisonment in respect of the offence, the term of imprisonment to be served in default of payment of the amount shall not begin to run until after the term mentioned in sub-subparagraph (b). (3) For the purposes of subparagraph (2) \u2014 (a) consecutive terms of imprisonment and terms of imprisonment which are wholly or partly concurrent shall be treated as a single term; and (b) there shall be disregarded any sentence suspended under section 24 of the Penal Code (2024 Revision) which has not taken effect at the time the defendant has defaulted as specified in the direction. Proceeds of Crime Act (2025 Revision) SCHEDULE 6 SCHEDULE 6 (section 2) Activities falling within the Definition of \u201cRelevant Financial Business\u201d Any activity related but not limited to \u2014 1. Acceptance of deposits and other repayable funds from the public. 2. Lending. 3. Financial leasing. 4. Money or value transfer services. 5. Issuing and managing means of payment (e.g. credit and debit cards, cheques, travellers\u2019 cheques, money orders and bankers\u2019 drafts, electronic money). 6. Financial guarantees and commitments. 7. Trading in \u2014 (a) money market instruments (cheques, bills, certificates of deposit, derivatives etc.); (b) foreign exchange; (c) exchange, interest rate and index instruments; (d) transferable securities; or (e) commodity futures trading. 8. Participation in securities issues and the provision of financial services related to such issues. 9. Advice to undertakings on capital structure, industrial strategy and related questions and advice and services relating to mergers and the purchase of undertakings. 10. Money broking. 11. Individual and collective portfolio management and advice. 12. Safekeeping and administration of cash or liquid securities on behalf of other persons. 13. Safe custody services. 14. Financial, estate agency (including real estate agency or real estate brokering), legal and accounting services provided in the course of business relating to \u2014 (a) the sale, purchase or mortgage of land or interests in land on behalf of clients or customers; (b) management of client money, securities or other assets; SCHEDULE 6 Proceeds of Crime Act (2025 Revision) (ba) organisation of contributions for the creation, operation or management of companies; (c) management of bank, savings or securities accounts; and (d) the creation, operation or management of legal persons or arrangements, and buying and selling of business entities. 14A. Undertaking property development within the meaning set out in section 2 of the Trade and Business Licensing Act (2021 Revision) and the subsequent sale of that property without using a real estate agent or broker. 14B. Repealed by section 19 of the Proceeds of Crime (Amendment) Act, 2023 (Act 12 of 2023). 15. The services of listing agents and broker members of the Cayman Islands Stock Exchange as defined in the CSX Listing Rules and the Cayman Islands Stock Exchange Membership Rules respectively. 16. The conduct of securities investment business. 17. Dealing in precious metals or precious stones, when engaging in a cash transaction that is equivalent to ten thousand United States dollars or more. 18. The provision of registered office services to a private trust company by a company that holds a Trust licence under section 6(5)(c) of the Banks and Trust Companies Act (2025 Revision). 19. Otherwise investing, administering or managing funds or money on behalf of other persons. 20. Underwriting and placement of life insurance and other investment related insurance. 21. Providing virtual asset services. 22. Repealed by section 19 of the Proceeds of Crime (Amendment) Act, 2023 (Act 12 of 2023). Publication in consolidated and revised form authorised by the Cabinet this 21st day of January, 2025. Kim Bullings Clerk of the Cabinet Proceeds of Crime Act (2025 Revision) ENDNOTES ENDNOTES Table of Legislation history: SL # Act\/Law # Legislation Commencement Gazette 10\/2024 Proceeds of Crime (Amendment) Act, 2023 (Commencement) (Amendment) Order, 2024 1-May-2024 LG18\/2024\/s3 1\/2024 Proceeds of Crime (Amendment) Act, 2023 (Commencement) Order, 2024 19-Jan-2024 LG2\/2024\/s1 12\/ 2023 Proceeds of Crime (Amendment) Act, 2023 2-Jan-2025 LG2\/2024\/s1 Proceeds of Crime Act (2024 Revision) 15-Feb-2024 LG9\/2024\/s1 50\/2022 Proceeds of Crime (Amendment of Schedule 1) Order, 20-Dec-2022 LG50\/2022\/s1 56\/2020 Citation of Acts of Parliament Act, 2020 3-Dec-2020 LG89\/2020\/s1 35\/2020 Civil Partnership Law, 2020 4-Sep-2020 LG64\/2020\/s1 Proceeds of Crime Law (2020 Revision) 16-Jan-2020 LG6\/2020\/s2 9\/2019 Proceeds of Crime (Amendment) Law, 2019 18-Jun-19 LG21\/2019\/s3 Proceeds of Crime Law (2019 Revision) 21-Feb-19 LG4\/2019\/s1 28\/2018 Proceeds of Crime (Amendment) Law, 2018 19-Dec-18 GE97\/2018\/s3 Proceeds of Crime Law (2018 Revision) 27-Mar-18 GE25\/2018\/s1 90\/2017 Proceeds of Crime (Amendment) Law, 2017 (Commencement) Order, 2017 1-Dec-17 GE102\/2017\/s2 49\/2017 Proceeds of Crime (Amendment) Law, 2017 1-Dec-17 GE100\/2017\/s9 Proceeds of Crime Law (2017 Revision) 31-May-17 GE45\/2017\/s28 40\/2016 Proceeds of Crime (Amendment) (No. 2) Law, 2016 19-Dec-16 G26\/2016\/s8 Proceeds of Crime Law (2016 Revision) 2-Sep-16 GE69\/2016\/s20 E9\/2016 Erratum: Proceeds of Crime (Amendment) Law, 2016 22-Jul-16 GE57\/2016\/p1 20\/2016 Proceeds of Crime (Amendment) Law, 2016 22-Jul-16 GE56\/2016\/s1 1\/2015 Proceeds of Crime (Amendment) Law, 2015 8-May-15 GE34\/2015\/s3 E8\/2016 Erratum: Proceeds of Crime (2014 Revision) 7-Nov-14 GE46\/2015\/p13 Proceeds of Crime Law (2014 Revision) 7-Nov-14 GE83\/2014\/s3 19\/2012 Director of Public Prosecutions (Miscellaneous Amendments) Law, 2012 17-Sep-12 GE90\/2012\/s17 20\/2008 Proceeds of Crime Law (Commencement) Order, 2008 25-Sep-08 GE29\/2008\/s1 10\/2008 Proceeds of Crime Law, 2008 30-Sep-08 GE23\/2008\/s2 ENDNOTES Proceeds of Crime Act (2025 Revision) Proceeds of Crime Act (2025 Revision) ENDNOTES ENDNOTES Proceeds of Crime Act (2025 Revision) (Price: $32.80) 1 Note: section 23 of the Alternative Sentencing Act (2008 Revision) is not yet in force.\", \"element\": \"section\", \"heading\": null}], \"meta\": {\"notes\": null, \"workflow\": null, \"lifecycle\": {\"source\": \"#cilegis\", \"eventRef\": [{\"eId\": \"e_commence_2025_02_13\", \"date\": \"2025-02-13\", \"type\": \"generation\", \"source\": \"#cilegis\"}]}, \"references\": {\"source\": \"#canary\", \"TLCRole\": [], \"TLCEvent\": [{\"eId\": \"ev_commencement\", \"href\": \"\/akn\/ontology\/canary\/event\/commencement\", \"showAs\": \"commencement\"}], \"TLCPerson\": [], \"TLCConcept\": [{\"eId\": \"inForce\", \"href\": \"\/akn\/ontology\/canary\/concept\/temporal\/in-force\", \"showAs\": \"in force\"}], \"TLCProcess\": [], \"TLCLocation\": [], 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\"\/akn\/ky\/act\/2008\/10\/eng@2025-02-13\", \"FRBRdate\": [{\"date\": \"2025-02-13\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/2008\/10\/eng@2025-02-13\/!main\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRlanguage\": \"eng\"}, \"FRBRManifestation\": {\"FRBRuri\": \"\/akn\/ky\/act\/2008\/10\/eng@2025-02-13.xml\", \"FRBRdate\": [{\"date\": \"2026-06-22\", \"name\": \"generation\"}], \"FRBRthis\": \"\/akn\/ky\/act\/2008\/10\/eng@2025-02-13.xml\", \"FRBRauthor\": [{\"as\": \"#editor\", \"href\": \"\/akn\/ontology\/canary\/organization\/editor\/cilegis\"}], \"FRBRformat\": \"application\/xml\"}}}, \"name\": \"act\", \"header\": {\"title\": \"Proceeds of Crime Act\", \"actNumber\": \"10 of 2008\", \"longTitle\": null}}, \"doc\": null, \"bill\": null, \"judgment\": null}}","akn_full_text":"CAYMAN ISLANDS\n\nPROCEEDS OF CRIME ACT\n(2025 Revision)\n\nSupplement No. 1 published with Legislation Gazette No. 14 of 13th February, 2025.\n\nPage 2\nRevised as at 2nd January, 2025\nc\n\nPUBLISHING DETAILS\nLaw 10 of 2008 consolidated with Laws 19 of 2012, 1 of 2015, 20 of 2016, 40 of 2016, 49\nof 2017, 28 of 2018 and 9 of 2019 and as amended by Law 35 of 2020, and Acts 56 of\n2020, 12 of 2023 and by the Proceeds of Crime (Amendment of Schedule 1) Order, 2022\n[SL 50 of 2022].\n\nRevised under the authority of the Law Revision Act (2020 Revision).\n\nOriginally enacted \u2014\nLaw 10 of 2008-30th June, 2008\nLaw 19 of 2012-31st August, 2012\nLaw 1 of 2015-17th April, 2015\nLaw 20 of 2016-24th June, 2016\nLaw 40 of 2016-24th October, 2016\nLaw 49 of 2017-16th November, 2017\nLaw 28 of 2018-16th November, 2018\nLaw 9 of 2019-5th June, 2019\nLaw 35 of 2020-4th September, 2020\nAct 56 of 2020-7th December, 2020\nAct 12 of 2023-20th September, 2023.\n\nConsolidated and revised this 2nd day of January, 2025.\n\nNote (not forming part of this Act): This revision replaces the 2024 Revision which\nshould now be discarded.\n\nProceeds of Crime Act (2025 Revision)\nArrangement of Sections\n\nc\nRevised as at 2nd January, 2025\nPage 3\n\nCAYMAN ISLANDS\n\nPROCEEDS OF CRIME ACT\n(2025 Revision)\nArrangement of Sections\nSection\nPage\nPart 1 - Preliminary\n1.\nShort title ................................................................................................................................. 11\n2.\nInterpretation ........................................................................................................................... 11\n2A.\nRepealed ................................................................................................................................. 15\nPart 2 - The Financial Reporting Authority\n3.\nFinancial Reporting Authority ................................................................................................... 16\n4.\nPowers, functions and duties of Financial Reporting Authority ................................................. 16\n5.\nAnti-Money Laundering Steering Group ................................................................................... 19\n6.\nIssue of policy directions to Financial Reporting Authority ........................................................ 21\n7.\nFinancial Reporting Authority restricted from providing information .......................................... 21\n8.\nImmunity of Financial Reporting Authority ................................................................................ 22\n9.\nProtection upon disclosure of information to Financial Reporting Authority .............................. 22\n10.\nUnauthorised disclosure by employees of Financial Reporting Authority .................................. 22\n11.\nAnnual report of Financial Reporting Authority ......................................................................... 23\n12.\nGuidelines ............................................................................................................................... 23\n13.\nCo-operation ............................................................................................................................ 23\n14.\nAdvice and assistance ............................................................................................................. 23\nPart 2A - Immunity of persons appointed as Supervisory\nAuthorities\n14A. Immunity of a person which is a Supervisory Authority............................................................. 24\n\nArrangement of Sections\nProceeds of Crime Act (2025 Revision)\n\nPage 4\nRevised as at 2nd January, 2025\nc\n\nPart 3 - Confiscation - Confiscation orders\n15.\nConditions for making of order ................................................................................................. 24\n16.\nRecoverable amount ................................................................................................................ 25\n17.\nDefendant\u2019s benefit .................................................................................................................. 26\n18.\nAvailable amount ..................................................................................................................... 26\n19.\nAssumptions to be made in case of criminal lifestyle ................................................................ 27\n20.\nTime for payment ..................................................................................................................... 28\n21.\nInterest on unpaid sums .......................................................................................................... 28\n22.\nEffect of order on court\u2019s other powers .................................................................................... 29\nProcedural matters\n29\n23.\nPostponement ......................................................................................................................... 29\n24.\nEffect of postponement ............................................................................................................ 30\n25.\nStatement of information .......................................................................................................... 31\n26.\nDefendant\u2019s response to statement of information ................................................................... 32\n27.\nProvision of information by defendant ...................................................................................... 33\nReconsideration\n33\n28.\nNo order made: reconsideration of case .................................................................................. 33\n29.\nNo order made: reconsideration of benefit ............................................................................... 35\n30.\nOrder made: reconsideration of benefit .................................................................................... 36\n31.\nOrder made: reconsideration of available amount .................................................................... 38\n32.\nInadequacy of available amount: variation of order .................................................................. 39\n33.\nInadequacy of available amount: discharge of order ................................................................ 40\n34.\nSmall amount outstanding: discharge of order ......................................................................... 41\n35.\nInformation .............................................................................................................................. 41\n36.\nDefendant convicted or committed ........................................................................................... 41\n37.\nDefendant neither convicted nor committed ............................................................................. 42\n38.\nVariation of order ..................................................................................................................... 43\n39.\nDischarge of order ................................................................................................................... 44\n40.\nAppeal by the Director of Public Prosecutions.......................................................................... 44\n41.\nCourt\u2019s powers on appeal ........................................................................................................ 45\nEnforcement as fines, etc.\n46\n42.\nApplication of procedure for enforcing fines ............................................................................. 46\n43.\nReconsideration, etc: variation of prison term .......................................................................... 46\nRestraint orders\n47\n44.\nConditions for exercise of powers ............................................................................................ 47\n45.\nRestraint orders ....................................................................................................................... 48\n46.\nApplication, discharge and variation......................................................................................... 49\n47.\nAppeal to Court of Appeal ........................................................................................................ 50\n48.\nSeizure .................................................................................................................................... 50\n49.\nHearsay evidence .................................................................................................................... 50\n50.\nConsiderations relevant to weighing of hearsay evidence ........................................................ 50\n51.\nSupplementary: restraint orders ............................................................................................... 51\nReceivers\n51\n52.\nManagement receivership and enforcement receivership ........................................................ 51\nApplication of sums\n53\n53.\nApplication of proceeds of enforcement ................................................................................... 53\n54.\nPayment of receiver\u2019s fees where no assets ............................................................................ 54\nRestrictions\n54\n\nProceeds of Crime Act (2025 Revision)\nArrangement of Sections\n\nc\nRevised as at 2nd January, 2025\nPage 5\n\n55.\nEffect of restraint order ............................................................................................................ 54\nReceivers: further provisions\n55\n56.\nProtection ................................................................................................................................ 55\n57.\nFurther applications ................................................................................................................. 55\n58.\nDischarge and variation ........................................................................................................... 55\n59.\nManagement receivers: discharge ........................................................................................... 56\n60.\nAppeal to Court of Appeal ........................................................................................................ 56\nSeized money\n57\n61.\nSeized money .......................................................................................................................... 57\nExercise of powers\n58\n62.\nPowers of court and receiver ................................................................................................... 58\nCommittal\n58\n63.\nCommittal by summary court ................................................................................................... 58\n64.\nSentencing by Grand Court ..................................................................................................... 59\nCompensation\n60\n65.\nSerious default ......................................................................................................................... 60\n66.\nOrder varied or discharged ...................................................................................................... 60\nEnforcement abroad\n61\n67.\nEnforcement abroad ................................................................................................................ 61\nInterpretation\n62\n68.\nCriminal lifestyle ...................................................................................................................... 62\n69.\nConduct and benefit ................................................................................................................. 62\n70.\nTainted gifts ............................................................................................................................. 63\n71.\nGifts and their recipients .......................................................................................................... 64\n72.\nValue: the basic rule ................................................................................................................ 64\n73.\nValue of property obtained from conduct .................................................................................. 65\n74.\nValue of tainted gifts ................................................................................................................ 65\n75.\nFree property ........................................................................................................................... 66\n76.\nRealisable property and other property .................................................................................... 66\nPart 4 - Civil Recovery of the Proceeds, Etc., of Unlawful\nConduct\nINTRODUCTORY\n67\n77.\nGeneral purpose of this Part .................................................................................................... 67\n78.\nUnlawful conduct ..................................................................................................................... 67\n79.\nProperty obtained through unlawful conduct ............................................................................ 67\nProceedings for recovery orders\n68\n80.\nProceedings for recovery orders in the Islands ........................................................................ 68\n81.\nAssociated property ................................................................................................................. 68\nProperty freezing orders\n69\n82.\nApplication for property freezing order ..................................................................................... 69\n83.\nVariation and setting aside of order .......................................................................................... 69\n84.\nExclusions ............................................................................................................................... 70\n85.\nRestriction on proceedings and remedies ................................................................................ 71\nOfficial Receiver\n71\n86.\nOfficial Receiver ...................................................................................................................... 71\nInterim receiving orders\n72\n87.\nApplication for interim receiving order ...................................................................................... 72\n\nArrangement of Sections\nProceeds of Crime Act (2025 Revision)\n\nPage 6\nRevised as at 2nd January, 2025\nc\n\n88.\nPowers of Official Receiver during an interim receiving order................................................... 72\n89.\nRegistration ............................................................................................................................. 73\n90.\nDuties of respondent, etc ......................................................................................................... 73\n91.\nSupervision of Official Receiver and variation of order ............................................................. 74\n92.\nRestrictions on dealing, etc., with property ............................................................................... 74\n93.\nRestriction on proceedings and remedies ................................................................................ 74\n94.\nExclusion of property which is not recoverable, etc. ................................................................. 75\n95.\nReporting ................................................................................................................................. 75\nVesting and realisation of recoverable property\n76\n96.\nRecovery orders ...................................................................................................................... 76\n97.\nPowers of the trustee for civil recovery .................................................................................... 77\n98.\nRights of pre-emption, etc. ....................................................................................................... 77\n99.\nAssociated and joint property ................................................................................................... 78\n100. Agreements about associated and joint property ..................................................................... 78\n101. Associated and joint property: default of agreement................................................................. 79\n102. Consent orders ........................................................................................................................ 80\n103. Limit on recovery ..................................................................................................................... 80\n104. Section 103: supplementary .................................................................................................... 80\n105. Applying realised proceeds ...................................................................................................... 81\nExemptions, etc.\n81\n106. Victims of theft, etc. ................................................................................................................. 81\n107. Other exemptions .................................................................................................................... 82\nMiscellaneous\n82\n108. Compensation ......................................................................................................................... 82\n109. Financial threshold .................................................................................................................. 83\nRECOVERY OF CASH IN SUMMARY PROCEEDINGS\n84\nSearches\n84\n110. Searches ................................................................................................................................. 84\n111. Prior approval .......................................................................................................................... 85\n112. Report on exercise of powers .................................................................................................. 85\n113. Code of practice ...................................................................................................................... 86\nSeizure and detention\n86\n114. Seizure of cash ........................................................................................................................ 86\n115. Detention of seized cash.......................................................................................................... 87\n116. Interest .................................................................................................................................... 88\n117. Release of detained cash ........................................................................................................ 88\nForfeiture\n88\n118. Forfeiture ................................................................................................................................. 88\n119. Appeal against forfeiture .......................................................................................................... 89\n120. Application of forfeited cash ..................................................................................................... 89\nSupplementary\n89\n121. Victims and other owners......................................................................................................... 89\n122. Compensation ......................................................................................................................... 90\nGENERAL\n91\nRecoverable property\n91\n123. Property obtained through unlawful conduct ............................................................................ 91\n124. Tracing property, etc. ............................................................................................................... 91\n125. Mixing property ........................................................................................................................ 91\n126. Recoverable property: accruing profits ..................................................................................... 92\n\nProceeds of Crime Act (2025 Revision)\nArrangement of Sections\n\nc\nRevised as at 2nd January, 2025\nPage 7\n\n127. General exceptions .................................................................................................................. 92\n128. Other exemptions .................................................................................................................... 93\n129. Granting interests .................................................................................................................... 94\nInsolvency\n94\n130. Insolvency ............................................................................................................................... 94\nInterpretation\n95\n131. Obtaining and disposing of property ......................................................................................... 95\n132. General interpretation .............................................................................................................. 95\nPart 5 - Money Laundering and Other Criminal Conduct -\nOffences\n133. Concealing, etc ........................................................................................................................ 96\n134. Arrangements .......................................................................................................................... 97\n135. Acquisition, use and possession .............................................................................................. 98\n136. Failure to disclose .................................................................................................................... 99\n137. Failure to disclose: nominated officers ................................................................................... 102\n138. Disclosure by the Financial Reporting Authority ..................................................................... 103\n139. Tipping off .............................................................................................................................. 104\n140. Whistleblowers ...................................................................................................................... 104\n141. Penalties ................................................................................................................................ 104\n142. Vicarious criminal liability ....................................................................................................... 105\n143. Form and manner of disclosures ............................................................................................ 105\nInterpretation: money laundering\n106\n144. Interpretation ......................................................................................................................... 106\n145. Regulations ........................................................................................................................... 107\nPart 6 - Investigations - Introduction\n146. Investigations......................................................................................................................... 108\n147. Offences of prejudicing investigation ...................................................................................... 109\nJudges and courts\n110\n148. Judges ................................................................................................................................... 110\nProduction orders\n110\n149. Production orders .................................................................................................................. 110\n150. Requirements for making of production order ........................................................................ 111\n151. Order to grant entry ............................................................................................................... 111\n152. Further provisions .................................................................................................................. 112\n153. Computer information ............................................................................................................ 112\n154. Government entities ............................................................................................................... 112\n155. Supplementary: production orders and orders to grant entry .................................................. 113\nSearch and seizure warrants\n113\n156. Search and seizure warrants ................................................................................................. 113\n157. Requirements where production order not available .............................................................. 114\n158. Further provisions: general .................................................................................................... 115\n159. Further provisions: civil recovery ............................................................................................ 115\nDisclosure orders\n116\n160. Disclosure orders ................................................................................................................... 116\n161. Requirements for the making of disclosure order ................................................................... 117\n\nArrangement of Sections\nProceeds of Crime Act (2025 Revision)\n\nPage 8\nRevised as at 2nd January, 2025\nc\n\n162. Offences: failure to comply with disclosure order ................................................................... 117\n163. Statements: disclosure orders................................................................................................ 118\n164. Further provisions: disclosure orders ..................................................................................... 118\n165. Supplementary: applications for disclosure orders ................................................................. 119\nCustomer information orders\n119\n166. Customer information orders ................................................................................................. 119\n167. Meaning of customer information ........................................................................................... 120\n168. Requirements for making of customer information order ........................................................ 122\n169. Offences: failure to comply with customer information order .................................................. 123\n170. Statements: customer information orders ............................................................................... 123\n171. Disclosure of information ....................................................................................................... 123\n172. Supplementary: applications for customer information orders ................................................ 123\nAccount monitoring orders\n124\n173. Account monitoring orders ..................................................................................................... 124\n174. Requirements for making of account monitoring order ........................................................... 125\n175. Statements: account monitoring orders .................................................................................. 125\n176. Applications ........................................................................................................................... 126\n177. Disclosure of information ....................................................................................................... 126\n178. Supplementary: account monitoring orders ............................................................................ 126\nEvidence overseas\n126\n179. Evidence overseas ................................................................................................................ 126\nCode of practice\n127\n180. Code of practice .................................................................................................................... 127\nInterpretation\n128\n181. Money laundering offences .................................................................................................... 128\n182. Other interpretative provisions ............................................................................................... 128\nPart 7 - Insolvency, Etc.\n183. Bankruptcy of defendant, etc. ................................................................................................ 128\n184. Winding up of company holding realisable property ............................................................... 129\n185. Property subject to interim order, restraint order or disposal dealt with by trustee .................. 130\n186. Meaning of insolvency practitioner ......................................................................................... 131\nPart 8 - Co-operation\n187. External requests and orders ................................................................................................. 131\n188. Registration of external confiscation orders ........................................................................... 131\n189. Proof of orders and judgments of courts of a foreign country ................................................. 132\n190. Evidence in relation to proceedings and orders in a foreign country ....................................... 132\n191. Representation of government of a foreign country ................................................................ 133\n192. Satisfaction of confiscation order in a foreign country ............................................................ 134\n193. Currency conversion .............................................................................................................. 134\n194. Rules of court ........................................................................................................................ 134\n195. Interpretation ......................................................................................................................... 135\nPart 9 - Miscellaneous and General\n196. Extradition where Schedule 1 to the Extradition Act 2003 applies .......................................... 135\n197. No third party claims on confiscated or forfeited property ....................................................... 136\n\nProceeds of Crime Act (2025 Revision)\nArrangement of Sections\n\nc\nRevised as at 2nd January, 2025\nPage 9\n\n198. Costs ..................................................................................................................................... 136\n199. Companies and other business entities formed for criminal purposes .................................... 136\n199A. Power of Supervisory Authority to enter, search, etc. ............................................................. 137\n200. Implied repeal ........................................................................................................................ 137\n201. Regulations ........................................................................................................................... 137\n202. Repeals ................................................................................................................................. 138\n203. Savings and transitional ......................................................................................................... 138\nSCHEDULE 1\n141\nLifestyle Offences\n141\n1 - Drug trafficking ........................................................................................................................... 141\n2 - Money laundering....................................................................................................................... 141\n3 - Directing terrorism ...................................................................................................................... 141\n4 - People trafficking ....................................................................................................................... 141\n5 - Arms trafficking .......................................................................................................................... 141\n6 - Counterfeiting and forgery .......................................................................................................... 142\n7 - Intellectual property .................................................................................................................... 142\n8 - Pimps and brothels .................................................................................................................... 142\n9 - Blackmail ................................................................................................................................... 142\n9A - Gambling offences ................................................................................................................... 142\n10 - Inchoate offences ..................................................................................................................... 143\nSCHEDULE 2\n144\nPowers of Official Receiver During an Interim Receiving Order\n144\n1 - Seizure....................................................................................................................................... 144\n2 - Information ................................................................................................................................. 144\n3 - Entry, search, etc. ...................................................................................................................... 144\n4 - Supplementary ........................................................................................................................... 145\n5 - Management .............................................................................................................................. 145\nSCHEDULE 3\n146\nPowers of Trustee for Civil Recovery\n146\n1 - Sale ........................................................................................................................................... 146\n2 - Expenditure ................................................................................................................................ 146\n3 - Management .............................................................................................................................. 146\n4 - Legal proceedings ...................................................................................................................... 146\n5 - Compromise............................................................................................................................... 146\n6 - Supplementary ........................................................................................................................... 146\nSCHEDULE 4\n148\nRegulated Sector\n148\n1 - Business in the regulated sector ................................................................................................ 148\nSCHEDULE 5\n149\nModifications to this Act When Applied to External Confiscation Orders and Related\nProceedings\n149\n1 - Introductory ................................................................................................................................ 149\n2 - General interpretation ................................................................................................................ 149\n\nArrangement of Sections\nProceeds of Crime Act (2025 Revision)\n\nPage 10\nRevised as at 2nd January, 2025\nc\n\n3 - Definition of principal terms used ............................................................................................... 150\n4 - Pecuniary advantage - equivalence............................................................................................ 151\n5 - Cases in which restraint orders may be made ............................................................................ 151\n6 - Restraint orders ......................................................................................................................... 151\n7 - Applications for restraint and orders ........................................................................................... 153\n8 - Realisation of property ............................................................................................................... 154\n9 - Application of proceeds of realisation and other sums ................................................................ 154\n10 - Exercise of powers of Grand Court or receiver ......................................................................... 155\n11 - Bankruptcy of defendant, etc. ................................................................................................... 155\n12 - Winding up of company holding realisable property .................................................................. 156\n13 - Receivers: supplementary provisions ....................................................................................... 157\n14 - Application of procedure for enforcing fines .............................................................................. 157\nSCHEDULE 6\n159\nActivities falling within the Definition of \u201cRelevant Financial Business\u201d\n159\nENDNOTES\n161\nTable of Legislation history: ............................................................................................................. 161\n\nProceeds of Crime Act (2025 Revision)\nSection 1\n\nc\nRevised as at 2nd January, 2025\nPage 11\n\nCAYMAN ISLANDS\n\nPROCEEDS OF CRIME ACT\n(2025 Revision)\n\nPart 1 - Preliminary\n\n1.\nShort title\n1.\nThis Act may be cited as the Proceeds of Crime Act (2025 Revision).\n2.\nInterpretation\n2.\n(1) In this Act unless the context otherwise requires \u2014\n\u201cappropriate officer\u201d means \u2014\n(a) a constable; or\n(b) any other person so designated by the Cabinet by Order for the purposes\nof this Act;\n\u201cClerk of the Court\u201d means the person appointed as such under section 7 of\nthe Grand Court Act (2015 Revision);\n\u201ccompetent authority\u201d means a public body in the Islands charged with\nresponsibility for combating money laundering and terrorist financing\nincluding \u2014\n(a)\nthe Financial Reporting Authority and any authority charged with the\nresponsibility for investigating and prosecuting money laundering,\n\nSection 2\nProceeds of Crime Act (2025 Revision)\n\nPage 12\nRevised as at 2nd January, 2025\nc\n\nassociated predicate offences and terrorist financing, and seizing or\nfreezing and confiscating criminal assets;\n(b) any authority receiving reports on cross-border transportation of currency\nand bearer negotiable instruments; and\n(c)\nany authority having anti-money laundering or counter terrorist financing\nsupervisory or monitoring responsibility aimed at ensuring compliance by\na relevant financial business with anti-money laundering or counter\nterrorist financing requirements;\n\u201cconstable\u201d includes a person appointed as an investigating officer under the\nAnti-Corruption Act (2024 Revision) and a person appointed as an officer of\nCustoms and Border Control under the Customs and Border Control Act (2024\nRevision);\n\u201ccourt\u201d means the Grand Court;\n\u201ccourt of a foreign country\u201d includes a court of any state or territory of a\nforeign country;\n\u201ccriminal property\u201d has the meaning assigned thereto by section 144(3);\n\u201cdesignated non-financial business and profession\u201d means a natural or legal\nperson designated as such in accordance with regulations made under this Act;\n\u201cDirector\u201d means the Director of the Financial Reporting Authority appointed\npursuant to section 3(1)(a);\n\u201cfiat currency\u201d means currency that is issued by the relevant body in a country\nor by a government that is designated as legal tender in its country of issuance\nthrough, among other things, government decree, regulation or law;\n\u201cfinancial intelligence unit\u201d means a central, public body, responsible for\nreceiving (and, as permitted, requesting), analysing and disseminating\ndisclosures of financial information \u2014\n(a)\nconcerning proceeds of criminal conduct or suspected proceeds of criminal\nconduct; or\n(b) required by any law in order to counter money laundering,\nand includes a law enforcement agency;\n\u201cFinancial Reporting Authority\u201d means the Financial Reporting Authority\nexisting pursuant to section 3(1);\n\u201cfinancial year\u201d in relation to the Financial Reporting Authority, means a year\nending on 31st December;\n\u201cinformation\u201d in relation to the reporting of matters to the Financial Reporting\nAuthority means information of financial transactions, including information on\nthe predicate offence from which the proceeds are, may be or will be derived or\nany suspicion of the same and also an inchoate offence;\n\nProceeds of Crime Act (2025 Revision)\nSection 2\n\nc\nRevised as at 2nd January, 2025\nPage 13\n\n\u201cinsurance business\u201d means business of any of the classes of business specified\nin the Schedule to the Anti-Money Laundering Regulations (2025 Revision) and\nfor the avoidance of doubt, does not include \u201creinsurance business\u201d as defined\nin the Insurance Act, 2010 [Law 32 of 2010];\n\u201cinterest\u201d, in relation to property, includes right;\n\u201cmodifications\u201d includes additions, alterations and omissions;\n\u201cMonetary Authority\u201d means the Cayman Islands Monetary Authority\nestablished under section 5(1) of the Monetary Authority Act (2020 Revision)\nand includes any employee of the Monetary Authority acting under the\nMonetary Authority\u2019s authorisation;\n\u201cnominated officer\u201d means a person nominated by the business concerned for\nthe purpose of receiving (under Part 5) reports relating to criminal conduct;\n\u201coverseas financial intelligence unit\u201d means a financial intelligence unit in a\ncountry other than the Islands;\n\u201cprior Law\u201d means the Proceeds of Criminal Conduct Law (2007 Revision) or\nany other Law or provision that made provisions relating to money laundering,\nand the regulations made thereunder, as in effect on the day immediately prior\nto 30th September, 2008, the date of commencement of the Proceeds of Crime\nLaw, 2008 [Law 10 of 2008];\n\u201cproperty\u201d includes money and all other property, real or personal, including\nthings in action and other intangible or incorporeal property, and when used in\nrelation to terrorism means, in addition, property likely to be used for the\npurposes of terrorism, proceeds from the commission of acts of terrorism or\nwhich has been used or is reasonably suspected to have been used, directly or\nindirectly, in the commission of an act of terrorism;\n\u201crelevant financial business\u201d means the business of engaging in one or more\nof the following \u2014\n(a)\nbanking or trust business carried on by a person who is for the time being\na licensee under the Banks and Trust Companies Act (2025 Revision);\n(b) acceptance by a building society of deposits made by any person\n(including the raising of money from members of the society by the issue\nof shares);\n(c)\nbusiness carried on by a co-operative society within the meaning of the\nCo-operative Societies Act (2020 Revision);\n(d) insurance business and the business of an insurance manager, an insurance\nagent and an insurance broker, who is licenced pursuant to the Insurance\nAct, 2010 [Law 32 of 2010], that is connected with insurance business;\n(e)\nmutual fund administration or the business of a regulated mutual fund\nwithin the meaning of the Mutual Funds Act (2025 Revision);\n\nSection 2\nProceeds of Crime Act (2025 Revision)\n\nPage 14\nRevised as at 2nd January, 2025\nc\n\n(f)\nthe business of company management as defined by the Companies\nManagement Act (2025 Revision), except that the services specified in\nsection 3(4)(a) of that Act shall not be excluded for the purposes of\nRegulations made under this Act from the provision of the specified\nservices as defined in subsection (2) of that section; and\n(g) any of the activities set out in Schedule 6, other than an activity falling\nwithin paragraphs (a) to (f) of this definition;\n\u201csecurities investment business\u201d has the meaning assigned in the Securities\nInvestment Business Act (2020 Revision);\n\u201cself-regulatory body\u201d means a body designated under this Act and regulations\nmade under this Act as a Supervisory Authority for a designated non-financial\nbusiness and profession;\n\u201cSteering Group\u201d means the Anti-Money Laundering Steering Group\nappointed pursuant to section 5;\n\u201cSupervisory Authority\u201d means the Monetary Authority or other body that\nmay be assigned, pursuant to section 4(9), the responsibility of monitoring\ncompliance with regulations made under this Act in relation to persons carrying\nout relevant financial business who are not otherwise subject to such monitoring\nby the Monetary Authority;\n\u201ctransfer\u201d, in relation to a virtual asset, means conducting a transaction on\nbehalf of a natural or legal person that moves a virtual asset from one virtual\nasset address or account to another;\n\u201cterrorism\u201d has the meaning assigned thereto in section 2 of the Terrorism Act\n(2018 Revision);\n\u201cvirtual asset\u201d means a digital representation of value that can be digitally\ntraded or transferred and can be used for payment or investment purposes but\ndoes not include any digital representation of fiat;\ncurrencies; and\n\u201cvirtual asset service\u201d means the business of conducting one or more of the\nfollowing activities or operations for or on behalf of a person \u2014\n(a) exchanging between virtual assets and fiat currencies;\n(b) exchanging between one or more other forms of convertible virtual assets;\n(c) transferring virtual assets;\n(d) safekeeping or administering virtual assets or instruments enabling control\nover virtual assets; and\n(e)\nparticipating in and providing financial services related to an issuer\u2019s offer\nor sale of a virtual asset;\n(2) This Act applies to property wherever situated.\n\nProceeds of Crime Act (2025 Revision)\nSection 2A\n\nc\nRevised as at 2nd January, 2025\nPage 15\n\n(3) Nothing in this Act confers any power on any court in connection with offences\nwhose commission was completed before the 23rd December, 1996 or\nproceedings against a person for an offence instituted before 23rd December\n1996 but \u2014\n(a)\nwhere an offence was committed in whole or in part before 30th\nSeptember, 2008, the commencement of the Proceeds of Crime Law, 2008\n[Law 10 of 2008], the law and procedures applying before such\ncommencement shall apply;\n(b) where all the offences of which the defendant is convicted were committed\non or after the 30th September, 2008, the commencement of the Proceeds\nof Crime Law, 2008 [Law 10 of 2008], the procedures instituted by or\nunder this Act shall apply.\n(4) References in this Act to property obtained, or to a pecuniary advantage derived,\nin connection with the commission of an offence include a reference to property\nobtained or to a pecuniary advantage derived both in that connection and in\nsome other connection.\n(5) Subsections (6) to (11) shall have effect for the interpretation of this Act.\n(6) Property is held by any person if that person holds any interest in it.\n(7) References to property held by a person include a reference to property vested\nin that person in bankruptcy or as liquidator.\n(8) References to an interest held by a person beneficially in property include a\nreference to an interest which would be held by that person beneficially if the\nproperty were not so vested.\n(9) Property is transferred by one person to another if the first person transfers or\ngrants to the other any interest in the property.\n(10) Any provision in this Act which refers to criminal property, criminal conduct,\nmoney laundering or the financing of terrorism shall be read as referring also to\nsuspicion of the same whether or not the property concerned is thought to be in\nthe Islands, outside the Islands or at whereabouts unknown, or is known to be\nin existence at the time the alleged act was committed.\n(11) Terrorist property shall, without prejudice to the provisions of the Terrorism Act\n(2018 Revision), be subject to all orders that may be made under this Act.\n(12) Schedule 6 may be amended by Order made by the Cabinet and the Order is\nsubject to affirmative resolution of the Cayman Islands Parliament.\n\n2A.\nRepealed\n2A. Repealed by section 4 of the Proceeds of Crime (Amendment) Act, 2023 (Act 12 of\n2023).\n\nSection 3\nProceeds of Crime Act (2025 Revision)\n\nPage 16\nRevised as at 2nd January, 2025\nc\n\nPart 2 - The Financial Reporting Authority\n3.\nFinancial Reporting Authority\n3.\n(1) There shall continue to be established a financial intelligence unit called the\nFinancial Reporting Authority, consisting of the following persons \u2014\n(a)\nthe Director of the Financial Reporting Authority;\n(b) an attorney-at-law;\n(c)\nan accountant; and\n(d) such other persons, having suitable qualifications and experience, as may\nbe necessary to provide services to the Financial Reporting Authority.\n(2) The Director of the Financial Reporting Authority shall be appointed in writing\nby the Governor acting in the discretion of the Governor after consultation with\nthe Anti-Money Laundering Steering Group and shall hold office for such\nperiod of time and subject to such terms and conditions as the Governor may\nsee fit.\n(2A) The persons specified in subsection (1)(b), (c) and (d) shall be appointed in\nwriting by the chief officer of the Portfolio charged with responsibility for Legal\nAffairs, after consultation with the chairperson of the Anti-Money Laundering\nSteering Group.\n(3) The Cabinet may make regulations to give effect to the provisions of\nsubsections (1) and (2) and sections 4 to 12.\n4.\nPowers, functions and duties of Financial Reporting Authority\n4.\n(1) The Financial Reporting Authority shall be responsible for receiving requesting,\nanalysing and disseminating disclosures of information \u2014\n(a)\nconcerning proceeds of criminal conduct or suspected proceeds of criminal\nconduct; or\n(b) required by any law in order to counter money laundering.\n(1A) In analysing disclosures under subsection (1) the Financial Reporting Authority\nshall, among other types of analyses, carry out the following types of\nanalyses \u2014\n(a)\noperational analysis, in which the Financial Reporting Authority shall use\navailable and obtainable information to \u2014\n(i)\nidentify specific targets;\n(ii) follow the trail of particular activities or transactions; and\n(iii) determine links between targets under subparagraph (i) and possible\nproceeds of crime, money laundering, predicate offences and terrorist\nfinancing; and\n\nProceeds of Crime Act (2025 Revision)\nSection 4\n\nc\nRevised as at 2nd January, 2025\nPage 17\n\n(b) strategic analysis, in which the Financial Reporting Authority shall use\navailable and obtainable information, including data that may be provided\nby other competent authorities, to identify money laundering and terrorist\nfinancing related trends and patterns.\n(2) Without limiting subsection (1) and notwithstanding any other Law to the\ncontrary, the Financial Reporting Authority \u2014\n(a)\nshall receive all disclosures of information (including information from\nany overseas financial intelligence unit) which \u2014\n(i)\nconcern proceeds of criminal conduct, suspected proceeds of\ncriminal conduct, money laundering, suspected money laundering, or\nthe financing of terrorism;\n(ii) are relevant to its responsibilities as a financial intelligence unit;\n(aa) shall be provided with such information, as may be prescribed, including\ncash transaction reports, wire transfer reports and threshold-based\ndeclarations or disclosures where the information is required by law;\n(b) may, subject to subsection (3) \u2014\n(i)\nwhere information is disclosed to the Financial Reporting Authority\nunder this Act; or\n(ii) upon receipt of a request from an overseas financial intelligence unit,\norder any person to refrain from dealing with a person\u2019s account for a\nperiod not exceeding twenty-one days if satisfied that there is reasonable\ncause to believe that the information or the request, as the case may be,\nrelates to proceeds or suspected proceeds of criminal conduct;\n(c)\nmay, in its discretion, in writing, require the provision, within a period not\nexceeding seventy-two hours, by any person of information (excluding\ninformation that need not be disclosed under Part 5) for the purpose of \u2014\n(i)\nclarifying or amplifying information disclosed to the Financial\nReporting Authority under this Act; or\n(ii) responding to a request by an overseas intelligence unit; and,\nin exercising its discretion, the Financial Reporting Authority shall\nconsider whether there is reasonable cause to believe that the information\nor the request, as the case may be, relates to proceeds or suspected\nproceeds of criminal conduct;\n(ca) may disseminate, in its discretion or upon request, information and results\nof any analysis to \u2014\n(i) any competent authority;\n(ii) any Supervisory Authority within the Islands, and\n(iii) such other institutions or persons in the Islands as may be designated\nin writing by the Steering Group,\n\nSection 4\nProceeds of Crime Act (2025 Revision)\n\nPage 18\nRevised as at 2nd January, 2025\nc\n\nand shall use dedicated, secure and protected channels for such\ndissemination;\n(d) shall retain a record for a minimum of five years of \u2014\n(i)\nall information received or disseminated by the Financial Reporting\nAuthority;\n(ii) any agreement entered into under subparagraph (e); and\n(iii) any consent or direction given by the Attorney General under this\nAct;\n(e)\nmay enter into any agreement or arrangement, in writing, with an overseas\nfinancial intelligence unit which the Financial Reporting Authority\nconsiders necessary or desirable for the discharge or performance of its\nresponsibilities and functions;\n(ea) shall monitor compliance with Regulations made under this Act for the\npurpose of anti-terrorism financing and anti-proliferation financing\nmeasures;\n(f)\nshall collect, compile and annually publish, in such manner as the\nFinancial Reporting Authority shall determine, statistical information\nrelating to \u2014\n(i)\ndisclosures made to the Financial Reporting Authority under this Act;\nand\n(ii) any onward disclosures of such financial information by the\nFinancial Reporting Authority; and\n(g) shall have, exercise and perform such other responsibilities, powers,\nfunctions and duties as may be assigned to the Financial Reporting\nAuthority by this Act or any other Law.\n(2A) Where the Financial Reporting Authority enters into any agreement or\narrangement under subsection (2)(e), the Financial Reporting Authority shall as\nsoon as practicable inform the Steering Group that it has done so.\n(3) The power conferred by subsection (2)(b) is not exercisable unless the court,\nupon application by the Financial Reporting Authority, makes an order under\nthis subsection permitting the exercise of that power.\n(4) Any person who without reasonable excuse fails or refuses to provide such\ninformation as is required by subsection (2)(c) commits an offence and is liable\non summary conviction to a fine of fifty thousand dollars or to imprisonment\nfor a term of two years, or to both.\n(5) An aggrieved person may, upon notice to the Attorney-General, apply to a judge\nin chambers to discharge an order made by the court under subsection (3), but\nsuch order shall remain in force until \u2014\n(a)\nthe judge in chambers determines otherwise; or\n\nProceeds of Crime Act (2025 Revision)\nSection 5\n\nc\nRevised as at 2nd January, 2025\nPage 19\n\n(b) the expiration of the period during which a person is required, by an order\nmade under subsection (2)(b), to refrain from dealing with another\nperson\u2019s account,\nwhichever is sooner.\n(6) The Financial Reporting Authority shall perform its functions through the\nDirector who shall have charge of the day-to-day management and operation of\nthe Financial Reporting Authority.\n(7) If the Director is for any reason unable to perform the functions of that\nDirector\u2019s post, the Director may appoint any person mentioned in\nparagraph (b), (c) or (d) of section 3(1), to act as Director.\n(8) Statistical information published pursuant to subsection (2)(f), shall without\ncharge be made available by the Financial Reporting Authority for inspection at\nits office.\n(9) The Cabinet may assign to \u2014\n(a) the Financial Reporting Authority;\n(b) a public body;\n(c) a self-regulatory body; or\n(d) any other person,\nthe responsibility of monitoring compliance with anti-money laundering\nregulations made under this Act in relation to persons conducting \u201crelevant\nfinancial business\u201d who are not otherwise subject to such monitoring by the\nCayman Islands Monetary Authority.\n(10) For the purpose of this section \u201cdedicated, secure and protected channels\u201d\nmeans the method by which information is disseminated.\n(11) The method employed under subsection (10) should disseminate information in\nsuch a manner so as to ensure that the information is not accessed by a person\nfor whom the information was not intended.\n5.\nAnti-Money Laundering Steering Group\n5.\n(1) There shall continue to be established a body called the Anti-Money Laundering\nSteering Group appointed by the Cabinet and consisting of \u2014\n(a)\nthe Attorney General, who shall be the chairperson;\n(b) the chief officer in the Ministry responsible for Financial Services or the\nchief officer\u2019s designate who is the deputy chairperson;\n(c)\nthe Commissioner of Police;\n(d) the Director of Customs and Border Control;\n(e)\nthe Managing Director of the Monetary Authority appointed under\nsection 13 of the Monetary Authority Act (2020 Revision);\n\nSection 5\nProceeds of Crime Act (2025 Revision)\n\nPage 20\nRevised as at 2nd January, 2025\nc\n\n(f)\nthe Solicitor General;\n(fa) the Chairperson of the Anti-Corruption Commission;\n(g) the Director of Public Prosecutions; and\n(h) the chief officer or Director, as the case may be, of the department in\nGovernment charged with responsibility for monitoring compliance with\nRegulations made under section 145 in relation to persons conducting\n\u201crelevant financial business\u201d who are not otherwise subject to such\nmonitoring by the Monetary Authority.\n(2) The Steering Group is responsible for the general oversight of the anti-money\nlaundering policy of the Government which includes \u2014\n(a)\nwhere the Steering Group considers it necessary to do so, and after\nconsultation with the Monetary Authority, designating jurisdictions as\nhaving measures for combating money laundering and the financing of\nterrorism which are equivalent to that of the Islands;\n(b) determining the general administration of the business of the Financial\nReporting Authority;\n(c)\noverseeing and inspecting the work of the Financial Reporting Authority;\n(d) reviewing annual reports submitted by the Director under section 11(b);\n(e)\npromoting effective collaboration among competent authorities in a\nmanner that ensures the compatibility of the requirements for combating\nmoney laundering and terrorist financing with the law protecting personal\ndata, privacy and related matters in the Islands;\n(f)\nmonitoring interaction and cooperation with overseas financial\nintelligence units; and\n(g) taking such other measures which may be necessary to ensure compliance\nwith requirements within the Islands for the combating of money\nlaundering and terrorist financing.\n(2A) A designation under subsection (2)(a) shall be made by notice in writing and\nsuch notice shall be published by the Steering Group in the Gazette, on the\nwebsite of the Monetary Authority and on any other government website\ndetermined by the Steering Group.\n(3) The Steering Group may regulate its own procedure.\n(3A) The Steering Group shall appoint a committee for the purposes set out in\nsubsection (3B) whose members shall consist of the following persons \u2014\n(a)\nthe person at the head of the department of Government tasked with\npromoting compliance with anti-money laundering, counter terrorism\nfinancing and anti-proliferation financing measures who shall be the\nchairperson of the committee; and\n(b) a representative from the following \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 6\n\nc\nRevised as at 2nd January, 2025\nPage 21\n\n(i)\nthe Financial Reporting Authority;\n(ii) each statutory authority, department of Government or agency tasked\nwith regulation for anti-money laundering, counter terrorism\nfinancing and anti-proliferation financing purposes;\n(iii) the unit within the Royal Cayman Islands Police Service tasked with\nthe responsibility of investigating and prosecuting an offence relating\nto a financial crime;\n(iiia) the Anti-Corruption Commission;\n(iv) the\ndepartment\nof\nGovernment\nknown\nas\nthe\nCustoms\nDepartment; and\n(v) the Office of the Director of Public Prosecutions,\nand any other person that the Steering Group considers it necessary to appoint\nfor the purposes for which the committee is appointed.\n(3B) A committee appointed pursuant to subsection (3A) shall \u2014\n(a) implement or cause the implementation of the policies established by the\nSteering Group;\n(aa) ensure the compatibility of requirements for combating of money\nlaundering and terrorist financing with the law protecting personal data\nand privacy and related matters in the Islands;\n(b) facilitate the coordination and cooperation between each statutory\nauthority, department of Government or agency tasked with regulation for\nanti-money laundering, counter terrorism financing and anti-proliferation\nfinancing purposes; and\n(c)\nassess the risks to the Cayman Islands related to money laundering,\ncounter terrorism financing and proliferation financing.\n(4) The validity of any proceedings of the Steering Group shall not be affected by\nany vacancy among the members or by any defect in the appointment of a\nmember.\n6.\nIssue of policy directions to Financial Reporting Authority\n6.\nThe Cabinet may, after consultation with the Steering Group, give to the Financial\nReporting Authority directions of a general character as to the policy to be followed\nin the exercise and performance of its functions in relation to matters appearing to the\nCabinet to concern the public interest, and the Financial Reporting Authority shall\ngive effect to any such directions.\n7.\nFinancial Reporting Authority restricted from providing information\n7.\nNotwithstanding the provisions of any other Law \u2014\n(a)\nthe Financial Reporting Authority;\n\nSection 8\nProceeds of Crime Act (2025 Revision)\n\nPage 22\nRevised as at 2nd January, 2025\nc\n\n(b) the Director, officers and other personnel of the Financial Reporting\nAuthority;\n(c)\nthe Steering Group; and\n(d) the members of the Steering Group,\nshall not be required to provide any information, documents or evidence except in\naccordance with the provisions of this Act or in compliance with an order made by\nthe Grand Court.\n8.\nImmunity of Financial Reporting Authority\n8.\nNeither the Financial Reporting Authority, the Director, nor any officer, employee or\nagent of the Financial Reporting Authority, shall be liable in damages for anything\ndone or omitted in the discharge or purported discharge of their respective functions\nunder this Act unless it is shown that the act or omission was in bad faith or\nconstituted wilful misconduct or negligence.\n9.\nProtection upon disclosure of information to Financial Reporting Authority\n9.\n(1) Without prejudice to any other provision of this Act, where a person discloses\nto a nominated officer or the Financial Reporting Authority information\nconcerning \u2014\n(a) the proceeds or suspected proceeds of criminal conduct;\n(b) money laundering or suspected money laundering;\n(c) terrorism or suspected terrorism;\n(d) the financing of terrorism or suspected financing of terrorism; or\n(e) the financing of proliferation or suspected financing of proliferation,\n\nthe disclosure shall not be treated as a breach of any restriction upon the\ndisclosure of information by any enactment or otherwise and the fact of such\ndisclosure shall not give rise to any criminal or civil liability\n(2) For the purposes of this subsection having possession of any property shall be\ntaken to be doing an act in relation to it.\n10.\nUnauthorised disclosure by employees of Financial Reporting Authority\n10. (1) A person who, being an employee or agent of the Financial Reporting Authority,\nobtains information in any form as a result of that person\u2019s connection with the\nFinancial Reporting Authority or the Steering Group, shall not disclose that\ninformation to any person except so far as it is required or permitted under this\nor any other Law or by an order of the Grand Court.\n(2) Any person who communicates any information in breach of subsection (1)\ncommits an offence and is liable on summary conviction to a fine of twenty-five\nthousand dollars or to a term of imprisonment of five years, or to both such fine\nand imprisonment.\n\nProceeds of Crime Act (2025 Revision)\nSection 11\n\nc\nRevised as at 2nd January, 2025\nPage 23\n\n11.\nAnnual report of Financial Reporting Authority\n11. The Director shall \u2014\n(a)\nadvise the Steering Group on the work of the Financial Reporting\nAuthority and in particular on matters that could affect public policy or the\npriorities to be set by the Financial Reporting Authority; and\n(b) prepare and submit to the Steering Group no later than three months after\nthe date of the end of the financial year an annual report reviewing the\nwork of the Financial Reporting Authority and containing such other\ninformation as the Steering Group in its discretion shall require.\n12.\nGuidelines\n12. (1) The Financial Reporting Authority may, with the approval of the Steering\nGroup, issue guidelines setting out \u2014\n(a)\nany features of a transaction that may give rise to a suspicion that the\ntransaction is or may be relevant to the enforcement of this Act;\n(b) the forms and procedures for making a report of any such transaction; and\n(c)\nthe Authority\u2019s operational procedures in connection with disclosures\nmade to it under this Act.\n(2) The Financial Reporting Authority \u2014\n(a)\nshall from time to time review any guidelines issued under subsection (1);\nand\n(b) may, with the approval of the Steering Group, issue an amendment or\nrevocation of the guidelines.\n(3) The Financial Reporting Authority shall, without charge, make available for\ninspection at its office all guidelines issued under subsection (1), and all\namendments to and revocations of the guidelines.\n13.\nCo-operation\n13. (1) Persons who have functions relating to the investigation or prosecution of\noffences shall co-operate with the Director in the exercise of that Director\u2019s\nfunctions; and the Director shall co-operate with those persons in the exercise\nof functions they have under this Act.\n(2) Without limiting the generality of subsection (1), Schedule 1 shall apply.\n14.\nAdvice and assistance\n14. The Director shall give the Cabinet advice and assistance which it reasonably requires\nand which \u2014\n(a)\nrelate to matters connected with the operation of this Act; and\n\nSection 14A\nProceeds of Crime Act (2025 Revision)\n\nPage 24\nRevised as at 2nd January, 2025\nc\n\n(b) are designed to help the Cabinet to exercise its functions so as to reduce\ncrime.\nPart 2A - Immunity of persons appointed as Supervisory\nAuthorities\n14A. Immunity of a person which is a Supervisory Authority\n14A. Notwithstanding the provisions of any other Law, while carrying out a regulatory\nfunction under this Act, a person which is a Supervisory Authority, and its delegates,\nmanagers, officers, employees and agents, shall not be liable in damages for anything\ndone or omitted in the discharge or purported discharge of their respective regulatory\nfunctions unless it is shown that the act or omission was in bad faith or constituted\nwilful misconduct.\nPart 3 - Confiscation - Confiscation orders\n15.\nConditions for making of order\n15. (1) The court or summary court shall have power, in addition to dealing with an\noffender in any other way, to make an order under this section requiring the\noffender to pay such sum as the court thinks fit.\n(2) The court or summary court shall make an order under this section if \u2014\n(a)\na defendant is convicted of an offence or offences in proceedings before\nthe court;\n(b) the Director of Public Prosecutions asks the court to proceed under this\nsection; or\n(c)\nthe court believes it is appropriate for it to do so.\n(3) Where the conditions specified in subsection (2) are satisfied the court or\nsummary court \u2014\n(a)\nshall decide whether the defendant has a criminal lifestyle;\n(b) where it decides that the defendant has a criminal lifestyle, shall decide\nwhether that person has benefited from that person\u2019s general criminal\nconduct; and\n(c)\nwhere it decides that the defendant does not have a criminal lifestyle, shall\ndecide whether that person has benefited from that person\u2019s particular\ncriminal conduct.\n(4) Where the court or summary court decides under subsection (3)(b) or (c) that\nthe defendant has benefited from the conduct referred to it shall decide the\n\nProceeds of Crime Act (2025 Revision)\nSection 16\n\nc\nRevised as at 2nd January, 2025\nPage 25\n\nrecoverable amount and make a confiscation order requiring that person to pay\nthe amount.\n(5) When considering whether to make a confiscation order the court or summary\ncourt may take into account any information that has been placed before it\nshowing that a victim of an offence to which the proceedings relate has\ninstituted, or intends to institute, civil proceedings against the defendant in\nrespect of loss, injury or damage sustained in connection with the offence.\n(6) The court or summary court shall decide any questions arising under\nsubsection (3) or (4) on a balance of probabilities.\n(7) Subject to section 37, subsection (2)(a) does not apply if the defendant absconds\nbut nothing in this Act shall prejudice the operation of any provision in the\nCriminal Procedure Code (2021 Revision) allowing proceedings to take place\nin the absence of a defendant.\n(8) References in this Part to the offence or offences concerned are to the offence\nor offences mentioned in subsection (2)(a).\n(9) Without prejudice to any rights of a third party against the person from whom\nproperty is to be confiscated under this Act, no action or other proceeding shall\nlie against the Government of the Islands in respect of that property.\n16.\nRecoverable amount\n16. (1) The recoverable amount for the purposes of section 15 is an amount equal to the\ndefendant\u2019s benefit from the conduct concerned.\n(2) Notwithstanding subsection (1) \u2014\n(a)\nwhere the defendant shows that the available amount is less than the\nbenefit referred to in subsection (1) the recoverable amount is the available\namount or a nominal amount, if the available amount is nil; or\n(b) where the court or summary court makes an order notwithstanding that any\nvictim of the conduct has started or intends to start proceedings against the\ndefendant in respect of loss, injury or damage sustained in connection with\nthe conduct the recoverable amount is such amount as the court believes is\njust, but does not exceed the amount found under subsection (1) or\nparagraph (a), as the case may be.\n(3) In calculating the defendant\u2019s benefit from the conduct concerned for the\npurposes of subsection (1), any property in respect of which \u2014\n(a)\na recovery order is in force under section 96;\n(b) a forfeiture order is in force under section 118,\nshall not be taken into account.\n\nSection 17\nProceeds of Crime Act (2025 Revision)\n\nPage 26\nRevised as at 2nd January, 2025\nc\n\n(4) Where the court or summary court decides the available amount, it shall include\nin the confiscation order a statement of the matters it took into account in\ndeciding the available amount.\n17.\nDefendant\u2019s benefit\n17. (1) Where the court or summary court is proceeding under section 15 this section\napplies for the purpose of deciding whether the defendant has benefited from\nconduct and for deciding that person\u2019s benefit from the conduct.\n(2) The court or summary court shall take account of conduct occurring up to the\ntime it makes its decision and shall take account of property obtained up to that\ntime.\n(3) Where the conduct concerned is general criminal conduct the court or summary\ncourt shall, if there has been no previous deduction on an earlier occasion,\ndeduct the aggregate of the following amounts \u2014\n(a)\nthe amount ordered to be paid under each confiscation order previously\nmade against the defendant; and\n(b) the amount ordered to be paid under each confiscation order previously\nmade against that person under the Misuse of Drugs Act (2017 Revision)\nor the prior Law.\n(4) Subsection (3) does not apply to an amount which has been taken into account\nfor the purposes of a deduction under that subsection on any earlier occasion.\n(5) The reference to general criminal conduct in the case of a confiscation order\nmade under the Misuse of Drugs Act (2017 Revision) or the prior Law is a\nreference to conduct in respect of which a court is required or entitled to make\none or more assumptions for the purpose of assessing a person\u2019s benefit from\nthe conduct.\n18.\nAvailable amount\n18. (1) For the purposes of deciding the recoverable amount, the available amount is\nthe aggregate of \u2014\n(a)\nthe total of the values (at the time the confiscation order is made) of all the\nfree property then held by the defendant minus the total amount payable in\npursuance of obligations which then have priority; and\n(b) the total of the values (at the time) of all tainted gifts.\n(2) An obligation has priority if it is an obligation of the defendant \u2014\n(a)\nto pay an amount due in respect of a fine or other order of a court which\nwas imposed or made on conviction of an offence and at any time before\nthe time the confiscation order is made; or\n\nProceeds of Crime Act (2025 Revision)\nSection 19\n\nc\nRevised as at 2nd January, 2025\nPage 27\n\n(b) to pay a sum which would be included among the preferential debts if a\ndefendant\u2019s bankruptcy had commenced on the date of the confiscation\norder or that person\u2019s winding up had been ordered on that date.\n(3) \u201cPreferential debts\u201d has the meaning given by section 135 of the Bankruptcy\nAct (1997 Revision).\n19.\nAssumptions to be made in case of criminal lifestyle\n19. (1) Where the court or summary court decides under section 15 that the defendant\nhas a criminal lifestyle it shall make the following four assumptions specified\nin subsections (2) to (5) for the purpose of \u2014\n(a)\ndeciding whether that person has benefited from that person\u2019s general\ncriminal conduct; and\n(b) deciding that person\u2019s benefit from the conduct.\n(2) The first assumption is that any property transferred to the defendant at any time\nafter the relevant day was obtained by that person as a result of that person\u2019s\ngeneral criminal conduct and at the earliest time that person appears to have held\nit.\n(3) The second assumption is that any property transferred to the defendant at any\ntime after the date of conviction was obtained by that person as a result of that\nperson\u2019s general criminal conduct, and at the earliest time that person appears\nto have held it.\n(4) The third assumption is that any expenditure incurred by the defendant at any\ntime after the relevant day was met from property obtained by that person as a\nresult of that person\u2019s general criminal conduct.\n(5) The fourth assumption is that, for the purpose of valuing a property obtained (or\nassumed to have been obtained) by the defendant, that person obtained it free of\nany other interests in it.\n(6) The court or summary court shall not make a required assumption in relation to\nparticular property or expenditure if the assumption is shown to be incorrect, or\nthere would be a serious risk of injustice if the assumption were made.\n(7) Where the court or summary court does not make one or more of the required\nassumptions it shall state its reasons.\n(8) The relevant day is the first day of the period of six years ending with \u2014\n(a)\nthe day when proceedings for the offence concerned were started against\nthe defendant; or\n(b) if there are two or more offences and proceedings for them were started on\ndifferent days, the earliest of those days.\n(9) Where a prior confiscation has been made against the defendant at any time\nduring the period mentioned in subsection (8) \u2014\n\nSection 20\nProceeds of Crime Act (2025 Revision)\n\nPage 28\nRevised as at 2nd January, 2025\nc\n\n(a)\nthe relevant day is the day when the defendant\u2019s benefit was calculated for\nthe purposes of the last such confiscation order; and\n(b) the second assumption does not apply to any property, which was held by\nthat person on or before the relevant day.\n(10) The date of conviction is \u2014\n(a)\nthe date on which the defendant was convicted of the offence\nconcerned; or\n(b) if there are two or more offences and the convictions were on different\ndates, the date of the latest.\n20.\nTime for payment\n20. (1) Subject to this section, the amount ordered to be paid under a confiscation order\nshall be paid on the date the order is made.\n(2) Where the defendant shows that that person needs time to pay the amount\nordered to be paid, the court making the confiscation order may make an order\nallowing payment to be made within a specified period.\n(3) The specified period shall start with the day on which the confiscation order is\nmade, and shall not exceed six months.\n(4) If within the specified period the defendant applies to the court or summary\ncourt for the period to be extended and the court or summary court believes that\nthere are exceptional circumstances, it may make an order extending the period.\n(5) The extended period shall start with the day on which the confiscation order is\nmade and shall not exceed 12 months.\n(6) An order under subsection (4) may be made after the end of the specified period\nbut shall not be made after the end of the period of 12 months starting with the\nday on which the confiscation order is made.\n(7) The court or summary court shall not make an order under subsection (2) or (4)\nunless it gives the Director of Public Prosecutions an opportunity to make\nrepresentations.\n21.\nInterest on unpaid sums\n21. (1) Where the amount required to be paid by a person under a confiscation order is\nnot paid when it is required to be paid, that person shall pay interest on the\namount for the period for which it remains unpaid.\n(2) The rate of interest under subsection (1) is that for the time being applying to a\ncivil judgment debt.\n(3) For the purposes of this section a person is not required to pay any amount under\na confiscation order if \u2014\n(a)\nan application has been made under section 20(4);\n\nProceeds of Crime Act (2025 Revision)\nSection 22\n\nc\nRevised as at 2nd January, 2025\nPage 29\n\n(b) the application has not been determined by the court; and\n(c)\nthe period of 12 months starting with the day on which the confiscation\norder was made has not ended.\n(4) In applying this Part the amount of the interest shall be treated as part of the\namount to be paid under the confiscation order.\n22.\nEffect of order on court\u2019s other powers\n22. (1) Where the court or summary court makes a confiscation order against a\ndefendant in any proceedings, it shall be the duty of the court, in respect of any\noffence of which that person is convicted in those proceedings, to take account\nof the order before \u2014\n(a)\nimposing any fine on that person;\n(b) making any order involving any payment by that person, other than an\norder under section 33 of the Penal Code (2024 Revision) (compensation\norders);\n(c)\nmaking any order under section 30 of the Misuse of Drugs Act (2017\nRevision); or\n(d) making an order under section 28 of the Terrorism Act (2018 Revision)\n(forfeiture orders),\nbut, subject to that, shall leave the order out of account in determining the\nappropriate sentence or other manner of dealing with that person.\n(2) Where \u2014\n(a)\nthe court or summary court makes both a confiscation order and an order\nunder section 33 of the Penal Code (2024 Revision) against the same\nperson in the same proceedings; and\n(b) the court believes that person will not have sufficient means to satisfy both\nthe orders in full,\nthe court shall direct that so much of the compensation as it specifies is to be\npaid out of any sums recovered under the confiscation order; and the amount it\nspecifies shall be the amount it believes will not be recoverable because of the\ninsufficiency of the person\u2019s means.\nProcedural matters\n23.\nPostponement\n23. (1) The court or summary court may proceed under section 15 before it sentences\nthe defendant for the offence or any of the offences concerned or postpone\nproceedings under section 15 for a specified period.\n\nSection 24\nProceeds of Crime Act (2025 Revision)\n\nPage 30\nRevised as at 2nd January, 2025\nc\n\n(2) The court or summary court may extend a period of postponement but, except\nin exceptional circumstances, a period of postponement including one as\nextended shall not end after the permitted period ends.\n(3) The permitted period is the period of two years starting with the date of\nconviction.\n(4) Where \u2014\n(a)\nthe defendant appeals against that person\u2019s conviction for the offence or\nany of the offences concerned; and\n(b) the period of three months (starting with the day when the appeal is\ndetermined or otherwise disposed of) ends after the period found under\nsubsection (3),\nthe permitted period is that period of three months.\n(5) A postponement or extension may be made \u2014\n(a)\non application by the defendant;\n(b) on application by the Director of Public Prosecutions; or\n(c)\nby the court or summary court of its own motion.\n(6) If proceedings are postponed for a period and an application to extend the period\nis made before it ends, the application may be granted even after the period ends.\n(7) The date of conviction is \u2014\n(a)\nthe date on which the defendant was convicted of the offence\nconcerned; or\n(b) if there are two or more offences and the convictions were on different\ndates, the date of the latest.\n(8) References to appealing include references to appealing by way of case stated.\n(9) A confiscation order shall not be quashed only on the ground that there was a\ndefect or omission in the procedure connected with the application for or the\ngranting of a postponement.\n(10) Subsection (9) shall not apply if before it made the confiscation order the court\nimposed a fine on the defendant or made an order falling within section 23(1).\n24.\nEffect of postponement\n24. (1) Where the court or summary court postpones proceedings under section 15 it\nmay proceed to sentence the defendant for the offence or any of the offences\nconcerned.\n(2) In sentencing the defendant for the offence or any of the offences concerned in\nthe postponement period the court or summary court shall not impose a fine on\nthat person or make an order falling within section 22(1).\n\nProceeds of Crime Act (2025 Revision)\nSection 25\n\nc\nRevised as at 2nd January, 2025\nPage 31\n\n(3) Where the court or summary court sentences the defendant for the offence or\nany of the offences concerned in the postponement period, after that period ends\nit may vary the sentence by imposing a fine on that person or by making an order\nfalling within section 22(1).\n(4) The court or summary court may only proceed under subsection (3) within the\nperiod of twenty-eight days, which starts with the last day of the postponement\nperiod.\n(5) For the purpose of section 13 of the Court of Appeal Act (2023 Revision) (time\nlimit for appealing in criminal proceedings), or paragraph 1 of the Schedule to\nthe Court of Appeal Act (2023 Revision) (time limit for application for leave to\nrefer a sentence), the sentence shall be regarded as imposed or made on the day\non which it is varied under subsection (3).\n(6) Where the court or summary court proceeds to sentence the defendant under\nsubsection (1), section 15 has effect as if the defendant\u2019s particular criminal\nconduct included conduct which constitutes offences which the court has taken\ninto consideration in deciding that person\u2019s sentence for the offence or offences\nconcerned.\n(7) The postponement period is the period for which proceedings under section 15\nare postponed.\n25.\nStatement of information\n25. (1) Where the court or summary court is proceeding under section 15 the Director\nof Public Prosecutions shall give the court a statement of information or, where\nthe court is proceeding because it is appropriate to do so, it shall order the\nDirector of Public Prosecutions to give the court a statement of information\nwithin a period specified by the court.\n(2) Where the Director of Public Prosecutions believes the defendant has a criminal\nlifestyle, the statement of information is a statement of matters the Director of\nPublic Prosecutions believes are relevant in connection with deciding \u2014\n(a)\nwhether the defendant has a criminal lifestyle;\n(b) whether that person has benefited from that person\u2019s general criminal\nconduct; and\n(c)\nthat person\u2019s benefit from the conduct.\n(3) A statement under subsection (2) shall include information the Director of\nPublic Prosecutions believes is relevant \u2014\n(a)\nin connection with the making by the court of a required assumption under\nsection 19; and\n(b) for the purpose of enabling the court to decide if the circumstances are\nsuch that it shall not make such an assumption.\n\nSection 26\nProceeds of Crime Act (2025 Revision)\n\nPage 32\nRevised as at 2nd January, 2025\nc\n\n(4) Where the Director of Public Prosecutions does not believe the defendant has a\ncriminal lifestyle the statement of information is a statement of matters the\nDirector of Public Prosecutions believes are relevant in connection with\ndeciding whether the defendant has benefited from that person\u2019s particular\ncriminal conduct and the defendant\u2019s benefit from the conduct.\n(5) Where the Director of Public Prosecutions gives the court or summary court a\nstatement of information \u2014\n(a)\nthat Director of Public Prosecutions may at any time give the court a\nfurther statement of information; and\n(b) that Director of Public Prosecutions shall give the court a further statement\nof information if the court orders that Director of Public Prosecutions to\ndo so, and that Director of Public Prosecutions shall give it within the\nperiod the court orders.\n(6) The court or summary court may vary an order made under this section at\nany time.\n26.\nDefendant\u2019s response to statement of information\n26. (1) Where the Director of Public Prosecutions gives the court or summary court a\nstatement of information and a copy is served on the defendant, the court may\norder the defendant \u2014\n(a)\nto indicate, within the period it orders, the extent to which that person\naccepts each allegation in the statement; and\n(b) so far as that person does not accept such an allegation, to give particulars\nof any matters that person proposes to rely on.\n(2) Where the defendant accepts to any extent an allegation in a statement of\ninformation the court or summary court may treat that person\u2019s acceptance as\nconclusive of the matters to which it relates for the purpose of deciding the\nissues referred to in section 25(2) or (4) as the case may be.\n(3) Where the defendant fails in any respect to comply with an order under\nsubsection (1) that person may be treated for the purposes of subsection (2) as\naccepting every allegation in the statement of information apart from \u2014\n(a)\nany allegation in respect of which that person has complied with the\nrequirement; and\n(b) any allegation that that person has benefited from that person\u2019s general or\nparticular criminal conduct.\n(4) For the purposes of this section an allegation may be accepted or particulars may\nbe given in a manner ordered by the court.\n(5) The court or summary court may vary an order made under this section at\nany time.\n\nProceeds of Crime Act (2025 Revision)\nSection 27\n\nc\nRevised as at 2nd January, 2025\nPage 33\n\n(6) An acceptance under this section that the defendant has benefited from conduct\nshall not be admissible in evidence in proceedings for an offence.\n27.\nProvision of information by defendant\n27. (1) This section applies if \u2014\n(a)\nthe court is proceeding under section 15 in a case where section 15(2)(a)\napplies; or\n(b) it is proceeding under section 15 in a case where section 15(2)(b) applies\nor it is considering whether to proceed.\n(2) For the purpose of obtaining information to help it in carrying out its functions\nthe court may at any time order the defendant to give it information specified in\nthe order.\n(3) An order under this section may require all or a specified part of the information\nto be given in a specified manner and before a specified date.\n(4) Where the defendant fails without reasonable excuse to comply with an order\nunder this section the court or summary court may draw such inference as it\nbelieves is appropriate.\n(5) Subsection (4) does not affect any power of the court to deal with the defendant\nin respect of a failure to comply with an order under this section.\n(6) Where the Director of Public Prosecutions accepts to any extent an allegation\nmade by the defendant \u2014\n(a)\nin giving information required by an order under this section; or\n(b) in any other statement given to the court in relation to any matter relevant\nto deciding the available amount under section 18,\nthe court may treat the acceptance as conclusive of the matter to which it relates.\n(7) For the purposes of this section an allegation may be accepted in a manner\nordered by the court.\n(8) The court may vary an order made under this section at any time.\n(9) Information given under this section which amounts to an admission by the\ndefendant that that person has benefited from criminal conduct is not admissible\nin evidence in proceedings for an offence.\nReconsideration\n28.\nNo order made: reconsideration of case\n28. (1) This section applies if \u2014\n(a)\nthe condition in section 15(2)(a) is satisfied but a court has not proceeded\nunder that section;\n\nSection 28\nProceeds of Crime Act (2025 Revision)\n\nPage 34\nRevised as at 2nd January, 2025\nc\n\n(b) there is evidence which was not available to the Director of Public\nProsecutions on the relevant date;\n(c)\nbefore the end of the period of six years starting with the date of conviction\nthe Director of Public Prosecutions applies to a court to consider the\nevidence; and\n(d) after considering the evidence the court believes it is appropriate for it to\nproceed under section 15.\n(2) Where this section applies the court shall proceed under section 15, and\nsubsections (3) to (8) of this section shall apply.\n(3) Where a court has already sentenced the defendant for the offence or any of the\noffences concerned, section 15 has effect as if the defendant\u2019s particular\ncriminal conduct included conduct which constitutes offences which the court\nhas taken into consideration in deciding that person\u2019s sentence for the offence\nor offences concerned.\n(4) Where this section applies, section 17(2) shall not apply and the court shall\ninstead \u2014\n(a)\ntake account of conduct occurring before the relevant date;\n(b) take account of property obtained before that date; and\n(c)\ntake account of property obtained on or after that date if it was obtained as\na result of or in connection with conduct occurring before that date.\n(5) For the purposes of this section, none of the assumptions stated in section 19\napply in reconsideration cases.\n(6) The recoverable amount for the purposes of section 15 is such amount as the\ncourt believes is just, but shall not exceed the amount found under section 16.\n(7) In arriving at the just amount the court shall have regard in particular to \u2014\n(a)\nthe amount found under section 16;\n(b) any fine imposed on the defendant in respect of the offence (or any of the\noffences) concerned;\n(c)\nany order which falls within section 22(1) and has been made against the\ndefendant in respect of the offence or any of the offences concerned and\nhas not already been taken into account by the court in deciding what is\nthe free property held by the defendant for the purposes of section 18; and\n(d) an order, which has been made against that person in respect of the offence\n(or any of the offences), concerned under section 33 of the Penal Code\n(2024 Revision).\n(8) Where an order for the payment of compensation under section 33 of the Penal\nCode (2024 Revision) has been made against the defendant in respect of the\noffence or offences concerned, section 22(2) does not apply.\n\nProceeds of Crime Act (2025 Revision)\nSection 29\n\nc\nRevised as at 2nd January, 2025\nPage 35\n\n(9) For the purposes of this section the relevant date is \u2014\n(a)\nif the court made a decision not to proceed under section 16, the date of\nthe decision; or\n(b) if the court did not make such a decision, the date of conviction.\n(10) For the purposes of this section the date of conviction is \u2014\n(a)\nthe date on which the defendant was convicted of the offence\nconcerned; or\n(b) if there are two or more offences and the convictions were on different\ndates, the date of the latest.\n29.\nNo order made: reconsideration of benefit\n29. (1) Where \u2014\n(a)\nin any proceeding under section 15 a court has decided that \u2014\n(i)\nthe defendant has a criminal lifestyle but has not benefited from that\nperson\u2019s general criminal conduct; or\n(ii) the defendant does not have a criminal lifestyle and has not benefited\nfrom that person\u2019s particular criminal conduct; and\n(b) a court proceeded under section 15 because the Director of Public\nProsecutions asked it to or because it believed it was appropriate for it to\ndo so and \u2014\n(i)\nthere is evidence which was not available to the Director of Public\nProsecutions when the court decided that the defendant had not\nbenefited from that person\u2019s general or particular criminal conduct;\n(ii) before the end of the period of six years starting with the date of\nconviction the Director of Public Prosecutions applies to the Grand\nCourt to consider the evidence; and\n(iii) after considering the evidence the court concludes that it would have\ndecided that the defendant had benefited from that person\u2019s general\nor particular criminal conduct (as the case may be) if the evidence\nhad been available to it,\n\nthe court \u2014\n(A) shall make a new decision under section 15(3)(b) or (c) whether\nthe defendant has benefited from that person\u2019s general or\nparticular criminal conduct (as the case may be); or\n(B) may make a confiscation order under that section.\n(2) Subsections (3) to (7) apply if the court proceeds under section 15 in pursuance\nof this section.\n\nSection 30\nProceeds of Crime Act (2025 Revision)\n\nPage 36\nRevised as at 2nd January, 2025\nc\n\n(3) Where a court has already sentenced the defendant for the offence (or any of the\noffences) concerned, section 15 has effect as if that person\u2019s particular criminal\nconduct included conduct which constitutes offences which the court has taken\ninto consideration in deciding that person\u2019s sentence for the offence or offences\nconcerned.\n(4) Where this section applies section 17(2) does not apply and the court shall\ninstead \u2014\n(a)\ntake account of conduct occurring before the date of the original decision\nthat the defendant had not benefited from that person\u2019s general or\nparticular criminal conduct;\n(b) take account of property obtained before that date; and\n(c)\ntake account of property obtained on or after that date if it was obtained as\na result of or in connection with conduct occurring before that date.\n(5) For the purposes of this section, none of the assumptions stated in section 19\napply in reconsideration cases.\n(6) The recoverable amount for the purposes of section 16 is such amount as the\ncourt believes is just, but such amount shall not exceed the amount found under\nsection 16.\n(7) In arriving at the just amount the court shall have regard in particular to \u2014\n(a)\nthe amount found under section 16;\n(b) any fine imposed on the defendant in respect of the offence (or any of the\noffences) concerned; and\n(c)\nany order which falls within section 22(1) and which has been made\nagainst the defendant in respect of the offence (or any of the offences)\nconcerned and has not already been taken into account by the court in\ndeciding what is the free property held by that person for the purposes of\nsection 18.\n(8) Where an order for the payment of compensation under section 33 of the Penal\nCode (2024 Revision) has been made against the defendant in respect of the\noffence or offences concerned section 22(2) shall not apply.\n(9) For the purposes of this section the date of conviction is the date found by\napplying section 28(10).\n30.\nOrder made: reconsideration of benefit\n30. (1) Where \u2014\n(a)\na court has made a confiscation order;\n(b) there is evidence which was not available to the Director of Public\nProsecutions at the relevant time;\n\nProceeds of Crime Act (2025 Revision)\nSection 30\n\nc\nRevised as at 2nd January, 2025\nPage 37\n\n(c)\nthe Director of Public Prosecutions believes that if the court were to find\nthe amount of the defendant\u2019s benefit in pursuance of this section it would\nexceed the relevant amount;\n(d) before the end of the period of six years starting with the date of conviction\nthe Director of Public Prosecutions applies to the Grand Court to consider\nthe evidence; and\n(e)\nafter considering the evidence the court believes it is appropriate for it to\nproceed under this section,\nthe court shall make a new calculation of the defendant\u2019s benefit from the\nconduct concerned and when it does so subsections (2) to (5) shall apply.\n(2) Where a court has already sentenced the defendant for the offence (or any of the\noffences) concerned section 15 has effect as if that person\u2019s particular criminal\nconduct included conduct which constitutes offences which the court has taken\ninto consideration in deciding that person\u2019s sentence for the offence or offences\nconcerned.\n(3) Where this section applies section 17(2) shall not apply, and the court shall\ninstead \u2014\n(a)\ntake account of the defendant\u2019s conduct occurring up to the time it decided\nthe defendant\u2019s benefit for the purposes of the confiscation order;\n(b) take account of property obtained up to that time; and\n(c)\ntake account of property obtained after that time if the property was\nobtained as a result of or in connection with conduct occurring before that\ntime.\n(4) In applying section 17(5) the court shall not take into account a confiscation\norder.\n(5) For the purposes of this section, none of the assumptions stated in section 19\napply in reconsideration cases.\n(6) Where the amount found under the new calculation of the defendant\u2019s benefit\nexceeds the relevant amount the court \u2014\n(a)\nshall make a new calculation of the recoverable amount for the purposes\nof section 15; and\n(b) if it exceeds the amount required to be paid under the confiscation order,\nmay vary the order by substituting for the amount required to be paid such\namount as it believes is just.\n(7) In applying subsection (6)(a) the court shall \u2014\n(a)\ntake the new calculation of the defendant\u2019s benefit; and\n(b) apply section 18 as if references to the time the confiscation order is made\nwere to the time of the new calculation of the recoverable amount and as\n\nSection 31\nProceeds of Crime Act (2025 Revision)\n\nPage 38\nRevised as at 2nd January, 2025\nc\n\nif references to the date of the confiscation order were to the date of that\nnew calculation.\n(8) In applying subsection (6)(b) the court shall have regard in particular to \u2014\n(a)\nany fine imposed on the defendant for the offence (or any of the offences)\nconcerned; and\n(b) any order which falls within section 22(1) and has been made against that\nperson in respect of the offence (or any of the offences) concerned and has\nnot already been taken into account by the court in deciding what is the\nfree property held by that person for the purposes of section 18.\n(9) In applying subsection (6)(b) the court shall not have regard to an order falling\nwithin subsection (8)(b) if a court has made a direction under section 22(2).\n(10) In deciding under this section whether one amount exceeds another, the court\nshall take account of any change in the value of money.\n(11) For the purposes of this section the relevant time is \u2014\n(a)\nwhen the court calculated the defendant\u2019s benefit for the purposes of the\nconfiscation order, if this section has not applied previously; or\n(b) when the court last calculated the defendant\u2019s benefit in pursuance of this\nsection, if this section has applied previously.\n(12) For the purposes of this section the relevant amount is \u2014\n(a)\nthe amount found as the defendant\u2019s benefit for the purposes of the\nconfiscation order, if this section has not applied previously; or\n(b) the amount last found as the defendant\u2019s benefit in pursuance of this\nsection, if this section has applied previously.\n(13) For the purposes of this section the date of conviction is the date found by\napplying section 19(10).\n31.\nOrder made: reconsideration of available amount\n31. (1) Where \u2014\n(a)\na court has made a confiscation order;\n(b) the amount required to be paid was the amount found under section 16(2);\nand\n(c)\nthe Director of Public Prosecutions or a receiver appointed under section\n52 applies to the court to make a new calculation of the available amount,\nthe court shall make the new calculation, and in doing so it shall apply section 18\nas if references to the time the confiscation order is made were to the time of the\nnew calculation and as if references to the date of the confiscation order were to\nthe date of the new calculation.\n\nProceeds of Crime Act (2025 Revision)\nSection 32\n\nc\nRevised as at 2nd January, 2025\nPage 39\n\n(2) Where the amount found under the new calculation exceeds the relevant amount\nthe court may vary the order by substituting for the amount required to be paid\nsuch amount as it believes is just but shall exceed the amount found as the\ndefendant\u2019s benefit from the conduct concerned.\n(3) The court in deciding what is just for the purposes of subsection (2) \u2014\n(a)\nshall have regard in particular to \u2014\n(i)\nany fine imposed on the defendant for the offence or any of the\noffences concerned; and\n(ii) any order which falls within section 23(1) and which has been made\nagainst that person in respect of the offence (or any of the offences)\nconcerned and has not already been taken into account by the court\nin deciding what is the free property held by that person for the\npurposes of section 19; and\n(b) shall not have regard to an order falling within paragraph (a)(ii) if a court\nhas made a direction under section 23(2).\n(4) In deciding under this section whether one amount exceeds another, the court\nshall take account of any change in the value of money.\n(5) For the purposes of this section the relevant amount is \u2014\n(a)\nthe amount found as the available amount for the purposes of the\nconfiscation order, if this section has not applied previously; or\n(b) the amount last found as the available amount in pursuance of this section,\nif this section had applied previously.\n(6) The amount found as the defendant\u2019s benefit from the conduct concerned is \u2014\n(a)\nthe amount so found when the confiscation order was made; or\n(b) if one or more new calculations of the defendant\u2019s benefit have been made\nunder this section the amount found on the occasion of the last such\ncalculation.\n32.\nInadequacy of available amount: variation of order\n32. (1) Where \u2014\n(a)\na court has made a confiscation order; and\n(b) the defendant, or a receiver appointed under section 52 or 53 applies to the\ncourt to vary the order under this section,\nthe court shall calculate the available amount, and in doing so it shall apply\nsection 19 as if references to the time the confiscation order is made were to the\ntime of the calculation and as if references to the date of the confiscation order\nwere to the date of the calculation.\n(2) Where the court finds that the available amount calculated in accordance with\nsubsection (1) is inadequate for the payment of any amount remaining to be paid\n\nSection 33\nProceeds of Crime Act (2025 Revision)\n\nPage 40\nRevised as at 2nd January, 2025\nc\n\nunder the confiscation order it may vary the order by substituting for the amount\nrequired to be paid such smaller amount as the court believes is just.\n(3) Where \u2014\n(a)\na person has been adjudged bankrupt;\n(b) a person\u2019s estate has been sequestrated; or\n(c)\nan order for the winding up of a company has been made,\nthe court shall take into account the extent to which realisable property held by\nthat person or that company may be distributed among creditors.\n(4) The court may disregard any inadequacy which it believes is attributable wholly\nor partly to anything done by the defendant for the purpose of preserving\nproperty held by the recipient of a tainted gift from any risk of realisation under\nthis Part.\n(5) In subsection (3) \u201ccompany\u201d means any company which may be wound up\nunder the Bankruptcy Act (1997 Revision).\n33.\nInadequacy of available amount: discharge of order\n33. (1) Where \u2014\n(a)\na court has made a confiscation order,\n(b) the Clerk of the Court applies to the court for the discharge of the\norder; and\n(c)\nthe amount remaining to be paid under the order is less than one thousand\ndollars,\nthe court shall calculate the available amount, and in doing so it shall apply\nsection 18 as if references to the time the confiscation order is made were to the\ntime of the calculation and as if references to the date of the confiscation order\nwere to the date of the calculation.\n(2) Where the court \u2014\n(a)\nfinds that the available amount calculated in accordance with\nsubsection (1) is inadequate to meet the amount remaining to be paid; and\n(b) is satisfied that the inadequacy is due wholly to a specified reason or a\ncombination of specified reasons,\nit may discharge the confiscation order.\n(3) The specified reasons referred to in subsection (2) are \u2014\n(a)\nin a case where any of the realisable property consists of money in a\ncurrency other than Cayman Islands dollars, that fluctuations in currency\nexchange rates have occurred; and\n(b) any reason specified by the Cabinet by order.\n\nProceeds of Crime Act (2025 Revision)\nSection 34\n\nc\nRevised as at 2nd January, 2025\nPage 41\n\n(4) The Cabinet may by order vary the amount for the time being specified in\nsubsection (1)(c).\n34.\nSmall amount outstanding: discharge of order\n34. (1) Where \u2014\n(a)\na court has made a confiscation order;\n(b) the Clerk of the Court applies to the court for the discharge of the\norder; and\n(c)\nthe amount remaining to be paid under the order is fifty dollars or less,\nthe court may discharge the order.\n(2) The Cabinet may by order vary the amount for the time being specified in\nsubsection (1)(c).\n35.\nInformation\n35. Where \u2014\n(a)\nthe court proceeds under section 15 in pursuance of section 28 or 29; or\n(b) the Director of Public Prosecutions applies under section 30,\nthen \u2014\n(i)\nthe Director of Public Prosecutions shall give the court a statement\nof information within a period the court orders;\n(ii) section 25 applies accordingly (with appropriate modifications\nwhere the Director of Public Prosecutions applies under section 29);\n(iii) section 28 applies accordingly; and\n(iv) section 27 applies as it applies in the circumstances mentioned in\nsection 27(1).\n36.\nDefendant convicted or committed\n36. (1) Where \u2014\n(a)\na defendant absconds after \u2014\n(i)\nthat defendant is convicted of an offence or offences in proceedings\nbefore the court; or\n(ii) that defendant is committed to the court in respect of an offence or\noffences under section 63; and\n(b) the Director of Public Prosecutions applies to the Grand Court to proceed\nunder this section and the court believes it is appropriate for it to do so,\nthe court shall, subject to subsection (2), proceed under section 15 in the same\nway as it would proceed if the two conditions set out in section 15(2)(a) and (b)\nare satisfied.\n\nSection 16\nProceeds of Crime Act (2025 Revision)\n\nPage 42\nRevised as at 2nd January, 2025\nc\n\n(2) Where the court proceeds under section 15 as applied by this section, this Part\nhas effect with these modifications \u2014\n(a)\nany person the court believes is likely to be affected by an order under\nsection 15 is entitled to appear before the court and make representations;\n(b) the court shall not make an order under section 16 unless the Director of\nPublic Prosecutions has taken reasonable steps to contact the defendant;\n(c)\nsection 15(7) applies as if the reference to subsection (2) (a) were to\nsubsection (1) (a) of this section;\n(d) sections 29, 25(4), 26 and 27 shall not be taken into account; and\n(e)\nsections 28, 29 and 30 shall not be taken into account while the defendant\nis still an absconder.\n(3) Where the defendant ceases to be an absconder section 28 has effect as if\nsubsection (1) (a) of that section read \u2014\n\u201c(a) at a time when the first condition in section 36 was satisfied the court did\nnot proceed under section 15,\u201d.\n(4) Where the court does not believe it is appropriate for it to proceed under this\nsection once the defendant ceases to be an absconder, section 28 has effect as if\nsubsection (1)(b) thereof read \u2014\n\u201c(b) there is evidence which was not available to the Director of Public\nProsecutions on the relevant date,\u201d.\n37.\nDefendant neither convicted nor committed\n37. (1) Where \u2014\n(a)\nproceedings for an offence or offences are started against a defendant but\nare not concluded;\n(b) the defendant absconds;\n(c)\nthe period of two years (starting with the day the court believes that person\nabsconded) has ended; and\n(d) the Director of Public Prosecutions applies to the Grand Court to proceed\nunder this section and the court believes it is appropriate for it to do so,\nthe court shall proceed under section 15 in the same way as it would proceed if\nthe two conditions mentioned in section 15(2) (a) and (b) are satisfied.\n(2) Where the court proceeds under section 15 as applied by this section, this Part\nhas effect with the following modifications \u2014\n(a)\nany person the court believes it likely to be affected by an order under\nsection 15 is entitled to appear before the court and make representations;\n(b) the court shall not make an order under section 15 unless the Director of\nPublic Prosecutions has taken reasonable steps to contact the defendant;\n\nProceeds of Crime Act (2025 Revision)\nSection 20\n\nc\nRevised as at 2nd January, 2025\nPage 43\n\n(c)\nsection 15(7) applies as if the reference to subsection (2) (a) were to\nsubsection (1) of this section;\n(d) sections 20, 25(4) and 26 to 29 shall not be taken into account; and\n(e)\nsection 27 shall not be taken into account while the defendant is still an\nabsconder.\n(3) Where the defendant has ceased to be an absconder section 30 has effect as if\nreference to the date of conviction were to \u2014\n(a)\nthe day when proceedings for the offence concerned were started against\nthe defendant; or\n(b) if there are two or more offences and proceedings for them were started on\ndifferent days, the earliest of those days.\n(4) Where \u2014\n(a)\nthe court makes an order under section 15 as applied by this section; and\n(b) the defendant is later convicted in proceedings before the court of the\noffence (or any of the offences) concerned,\nsection 16 does not apply so far as that conviction is concerned.\n38.\nVariation of order\n38. (1) Where \u2014\n(a)\nthe court makes a confiscation order under section 16 as applied by\nsection 37;\n(b) the defendant ceases to be an absconder;\n(c)\nthat defendant is convicted of an offence (or any of the offences)\nmentioned in section 37(1)(a);\n(d) that defendant believes that the amount required to be paid was too large\n(taking the circumstances prevailing when the amount was found for the\npurposes of the order);\n(e)\nbefore the end of the relevant period that person applies to the court to\nconsider the evidence on which that person\u2019s belief is based; and\n(f)\nthe court after considering the evidence concludes that the defendant\u2019s\nbelief is well founded,\nthe court shall calculate the amount which should have been the amount required\nto be paid (taking the circumstances prevailing when the amount was found for\nthe purposes of the order) and may vary the order by substituting for the amount\nrequired to be paid such amount as it believes is just.\n(2) For the purposes of this section the relevant period is a period of twenty-eight\ndays starting with \u2014\n\nSection 39\nProceeds of Crime Act (2025 Revision)\n\nPage 44\nRevised as at 2nd January, 2025\nc\n\n(a)\nthe date on which the defendant was convicted of the offence mentioned\nin section 37(1)(a); or\n(b) if there are two or more offences and the convictions were on different\ndates, the date of the latest.\n(3) In a case where section 37(1)(a) applies to more than one offence the court shall\nmake an order under this section unless it is satisfied that there is no possibility\nof any further proceedings being taken or continued in relation to any such\noffences in respect of which the defendant has not been convicted.\n39.\nDischarge of order\n39. (1) The court shall discharge an order where \u2014\n(a)\nthe court makes a confiscation order under section 15 as applied by\nsection 37;\n(b) the defendant is later tried for the offence or offences concerned and\nacquitted on all counts; and\n(c)\nthat defendant applies to the court to discharge the order.\n(2) Where \u2014\n(a)\nthe court makes a confiscation order under section 15 as applied by section\n37;\n(b) the defendant ceases to be an absconder;\n(c)\nsubsection (1)(b) does not apply; and\n(d) the defendant applies to the court to discharge the order,\nthe court may discharge the order if it finds that \u2014\n(i)\nthere has been undue delay in continuing the proceedings mentioned\nin section 36(1); or\n(ii) the Director of Public Prosecutions does not intend to proceed with\nthe prosecution.\n(3) Where the court discharges a confiscation order under this section it may make\nsuch consequential or incidental order as it believes is appropriate.\n40.\nAppeal by the Director of Public Prosecutions\n40. (1) Subject to subsection (2), where a court makes a confiscation order or it decides\nnot to make a confiscation order the Director of Public Prosecutions may appeal\nto the Grand Court or Court of Appeal in respect of the order or against the\ndecision.\n(2) Subsection (1) does not apply to an order or decision made by virtue of section\n28, 29, 36 or 37.\n\nProceeds of Crime Act (2025 Revision)\nSection 41\n\nc\nRevised as at 2nd January, 2025\nPage 45\n\n(3) An appeal to the Grand Court or Court of Appeal under this Part lies only with\nthe leave of that Court.\n(4) The Rules Committee shall make rules of court for the purposes of this Part.\n41.\nCourt\u2019s powers on appeal\n41. (1) On an appeal under section 40(1) \u2014\n(a)\nthe Grand Court or Court of Appeal may confirm, quash or vary the\nconfiscation order; or\n(b) the Court of Appeal may confirm the decision, or if it believes the decision\nwas wrong it may \u2014\n(i)\nitself proceed under section 15 (ignoring subsection (1) to (3)\nthereof); or\n(ii) direct the Grand Court or summary court to proceed afresh under\nsection 15.\n(2) In proceeding afresh in pursuance of this section the Grand Court or summary\ncourt shall comply with any directions the Grand Court or Court of Appeal may\nmake.\n(3) Where a court makes or varies a confiscation order under this section or in\npursuance of a direction under this section it shall \u2014\n(a)\nhave regard to any fine imposed on the defendant in respect of the offence\n(or any of the offences) concerned; and\n(b) have regard to any order which falls within section 22(1) and has been\nmade against the defendant in respect of the offence (or any of the\noffences) concerned, unless the order has already been taken into account\nby a court in deciding what is the free property held by the defendant for\nthe purposes of section 18.\n(4) Where the Court of Appeal proceeds under section 15 or the Grand Court or\nsummary court proceeds afresh under that section in pursuance of a direction\nunder this section subsections (5) to (8) apply.\n(5) Where a court or summary court has already sentenced the defendant for the\noffence or any of the offences concerned, section 16 has effect as if the\ndefendant\u2019s particular criminal conduct included conduct which constitutes the\noffence or offences concerned.\n(6) Where an order has been made against the defendant in respect of the offence\nor any of the offences under section 33 of the Penal Code (2024 Revision) the\ncourt or summary court shall have regard to such compensation order and\nsection 22(2) shall not apply.\n(7) Where this section applies, section 17(2) shall not apply, and the court or\nsummary court shall instead \u2014\n\nSection 42\nProceeds of Crime Act (2025 Revision)\n\nPage 46\nRevised as at 2nd January, 2025\nc\n\n(a)\ntake account of conduct occurring before the relevant date;\n(b) take account of property obtained before that date; and\n(c)\ntake account of property obtained on or after that date if it was obtained as\na result of or in connection with conduct occurring before that date.\n(8) For the purposes of this section, none of the assumptions stated in section 19\napply in reconsideration cases.\n(9) Where this section applies section 35 also applies as it applies in the\ncircumstances mentioned in that section.\n(10) For the purposes of this section the relevant date is the date on which the Grand\nCourt or summary court decided not to make a confiscation order.\nEnforcement as fines, etc.\n42.\nApplication of procedure for enforcing fines\n42. (1) Where the court or summary court orders a defendant to pay an amount under\nthis Act, sections 28 and 30 of the Penal Code (2024 Revision) shall have effect\nas if that amount were a fine imposed on the defendant by the court or summary\ncourt.\n(2) Where \u2014\n(a)\nthe court or summary court has directed that, in default of payment of an\namount ordered to be paid under this Act in respect of an offence, the\ndefendant shall serve a term of imprisonment; and\n(b) at the time the direction is made, the defendant is liable to serve a term of\nimprisonment in respect of the offence,\nthe term of imprisonment to be served in default of payment of the amount shall\nnot begin to run until after the term mentioned in paragraph (b).\n(3) For the purposes of subsection (2) \u2014\n(a)\nconsecutive terms of imprisonment and terms of imprisonment which are\nwholly or partly concurrent shall be treated as a single term; and\n(b) any sentence suspended under section 24 of the Penal Code (2024\nRevision) which has not taken effect at the time the defendant has defaulted\nas specified in the direction shall be disregarded.\n(4) Where the defendant serves a term of imprisonment or detention in default of\npaying any amount due under a confiscation order, that person\u2019s serving that\nterm does not prevent the confiscation order from continuing to have effect so\nfar as any other method of enforcement is concerned.\n43.\nReconsideration, etc: variation of prison term\n43. (1) Where \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 44\n\nc\nRevised as at 2nd January, 2025\nPage 47\n\n(a)\na court varies a confiscation order under section 30, 31, 32, 38 or 41;\n(b) the effect of the variation is to vary the maximum period of imprisonment\napplicable in relation to the order; and\n(c)\nthe result is that the maximum period is less than the term of imprisonment\nor detention fixed in respect of the order under section 30 of the Penal\nCode (2024 Revision),\nthe court shall fix a reduced term of imprisonment or detention in respect of the\nconfiscation order in place of the term previously fixed.\n(2) Where subsection (1)(a) and (b) apply but not (c) the court may amend the term\nof imprisonment or detention fixed in respect of the confiscation order under\nsection 30 of the Penal Code (2024 Revision).\n(3) Where the amount due under the confiscation order is increased by interest\npayable under section 21, the Director of Public Prosecutions may apply to the\ncourt to increase the term of imprisonment or detention in default.\nRestraint orders\n44.\nConditions for exercise of powers\n44. (1) The court may grant a restraint order in accordance with section 45 if any one\nof the following conditions is satisfied \u2014\n(a)\na criminal investigation has been started in the Islands with regard to an\noffence and there is reasonable cause to believe that the alleged offender\nhas benefited from that person\u2019s criminal conduct;\n(b) proceedings for an offence have been started in the Islands and not\nconcluded and there is reasonable cause to believe that the defendant has\nbenefited from that person\u2019s criminal conduct;\n(c)\neither \u2014\n(i)\nan application by the Director of Public Prosecutions has been made\nunder section 28, 29, 36 or 37 and not concluded; or\n(ii) the court believes that such an application is to be made,\nand there is reasonable cause to believe that the defendant has benefited from\nthat person\u2019s criminal conduct;\n(d) either \u2014\n(i)\nan application by the Director of Public Prosecutions has been made\nunder section 30 and not concluded, or\n(ii) the court believes that such an application is to be made,\nand there is reasonable cause to believe that the court will decide under that\nsection that the amount found under the new calculation of the defendant\u2019s\nbenefit exceeds the relevant amount (as defined in that section); or\n\nSection 45\nProceeds of Crime Act (2025 Revision)\n\nPage 48\nRevised as at 2nd January, 2025\nc\n\n(e)\neither \u2014\n(i)\nan application by the Director of Public Prosecutions has been made\nunder section 31 and not concluded; or\n(ii) the court believes that such an application is to be made,\nand there is reasonable cause to believe that the court will decide under that\nsection that the amount found under the new calculation of the available amount\nexceeds the relevant amount, as defined in section 31.\n(2) The condition in subsection (1)(b) is not satisfied if the Director of Public\nProsecutions does not intend to proceed.\n(3) Where subsection (1)(a) applies \u2014\n(a)\nreferences in this Part to the defendant are to the alleged offender; and\n(b) section 70(5) has effect as if proceedings for the offence had been started\nagainst the defendant when the investigation was started.\n45.\nRestraint orders\n45. (1) Where any of the conditions set out in section 44 is satisfied the court may make\na restraint order prohibiting any specified person from dealing with any\nrealisable property held by that person subject to such conditions and exceptions\nas may be specified in the order.\n(2) A restraint order may provide that it applies \u2014\n(a)\nto all realisable property held by the specified person whether or not the\nproperty is described in the order; or\n(b) to realisable property transferred to the specified person after the order\nis made.\n(3) Without prejudice to subsection (1), a restraint order may \u2014\n(a)\nmake provision for reasonable living expenses and reasonable legal\nexpenses; or\n(b) make provision for the purpose of enabling any person to carry on any\ntrade, business, profession or occupation.\n(4) An exception to a restraint order shall not provide for any legal expenses of the\ndefendant or the recipient of a tainted gift where such expenses are incurred in\nrelation to the offences in respect of which the restraint order is made.\n(4A) Without prejudice to subsections (1) and (4), a restraint order is subject to an\nexemption enabling relevant legal aid payments.\n(4B) For the purposes of subsection (4A) a relevant legal aid payment is a payment\nthat the specified person is obliged to make \u2014\n(a)\nin accordance with the Legal Aid Act, 2015 [Law 17 of 2015]; and\n\nProceeds of Crime Act (2025 Revision)\nSection 46\n\nc\nRevised as at 2nd January, 2025\nPage 49\n\n(b) in connection with legal aid services provided under the Act mentioned in\nparagraph (a) to the specified person to deal with the offence in respect of\nwhich the restraint order is made,\nwhether the obligation arises before or after the restraint order is made.\n(4C) A legal aid payment under subsection (4A) \u2014\n(a)\nshall be made subject to any prescribed restrictions on \u2014\n(i)\nthe circumstances in which payment may be made in reliance on the\nexception; or\n(ii) the amount of the payments that may be made in reliance on the\nexception;\n(b) shall be subject to any other prescribed conditions; and\n(c)\nmay be subject to other conditions.\n(5) Where the court makes a restraint order the court may, upon the application of\nthe Director of Public Prosecutions, make such other order as it believes is\nappropriate for the purpose of ensuring that the restraint order is effective.\n(6) A restraint order does not affect property for the time being subject to a charge\nunder section 11 of the prior Law.\n(7) For the purposes of this section \u201cdealing with property\u201d includes removing it\nfrom the Islands.\n46.\nApplication, discharge and variation\n46. (1) A restraint order \u2014\n(a)\nmay be made only on an application by the Director of Public\nProsecutions;\n(b) may be made on an ex parte application to a judge in chambers;\n(c)\nshall provide for notice to be given to persons affected by the order;\n(d) may be discharged or varied in relation to any property; and\n(e)\nshall be discharged when proceedings for the offence are concluded.\n(2) An application for the discharge or variation of a restraint order may be made\nby any person affected by it and, for the purpose of clarification, it is declared\nthat once proceedings are concluded, the order shall stand discharged but\nwithout prejudice to the effect of the decision made upon the conclusion of the\nmatter.\n(3) Where the condition in section 44, which was satisfied, was that proceedings\nwere started or an application was made, the court shall discharge the order on\nthe conclusion of the proceedings or of the application, as the case may be.\n(4) Where the condition in section 44 which was satisfied was that an investigation\nwas started or an application was to be made, the court shall discharge the order\n\nSection 47\nProceeds of Crime Act (2025 Revision)\n\nPage 50\nRevised as at 2nd January, 2025\nc\n\nif within a reasonable time proceedings for the offence are not started or the\napplication is not made, as the case may be.\n47.\nAppeal to Court of Appeal\n47. (1) Where on an application for a restraint order the court decided not to make one,\nthe Director of Public Prosecutions may appeal to the Court of Appeal against\nthe decision.\n(2) Where an application is made under section 46(2) in relation to a restraint order\nor an order under section 45(2) the Director of Public Prosecutions or any person\naffected by the order may appeal to the Court of Appeal in respect of the court\u2019s\ndecision on the application.\n(3) On an appeal under subsection (1) or (2) the Court of Appeal may either confirm\nthe decision or make such order as it believes is appropriate.\n48.\nSeizure\n48. (1) Where a restraint order is in force a constable or a customs officer may seize\nany realisable property to which it applies to prevent its removal from the\nIslands.\n(2) Property seized under subsection (1) shall be dealt with in accordance with the\ncourt\u2019s directions.\n49.\nHearsay evidence\n49. (1) Evidence must not be excluded in restraint proceedings on the ground that it is\nhearsay (of whatever degree).\n(2) Section 50 applies in relation to restraint proceedings.\n(3) Restraint proceedings are proceedings \u2014\n(a)\nfor a restraint order;\n(b) for the discharge or variation of a restraint order; or\n(c)\non an appeal under section 47.\n(4) Hearsay is a statement which is made otherwise than by a person while giving\noral evidence in the proceedings and which is tendered as evidence of the\nmatters stated.\n(5) Nothing in this section affects the admissibility of evidence which is admissible\napart from this section.\n50.\nConsiderations relevant to weighing of hearsay evidence\n50. (1) In estimating the weight (if any) to be given to hearsay evidence in civil\nproceedings the court shall have regard to any circumstances from which any\ninference can reasonably be drawn as to the reliability or otherwise of the\nevidence.\n\nProceeds of Crime Act (2025 Revision)\nSection 51\n\nc\nRevised as at 2nd January, 2025\nPage 51\n\n(2) Regard may be had, in particular, to the following \u2014\n(a)\nwhether it would have been reasonable and practicable for the party by\nwhom the evidence was adduced to have produced the maker of the\noriginal statement as a witness;\n(b) whether the original statement was made contemporaneously with the\noccurrence or existence of the matters stated;\n(c)\nwhether the evidence involves multiple hearsay;\n(d) whether any person involved had any motive to conceal or misrepresent\nmatters;\n(e)\nwhether the original statement was an edited account, or was made in\ncollaboration with another or for a particular purpose; and\n(f)\nwhether the circumstances in which the evidence is adduced as hearsay are\nsuch as to suggest an attempt to prevent proper evaluation of its weight.\n51.\nSupplementary: restraint orders\n51. In the case of a restraint order made in respect of land \u2014\n(a)\nthe restraint order shall inhibit for a specified period of time, until the\noccurrence of a specified event or generally until further order, the\nregistration of any dealing with any land, lease or charge;\n(b) a copy of the restraint order under the seal of the court, with the particulars\nof the land, lease or charge thereby affected shall be sent to the Registrar\nof Lands who shall register it in the Land Register maintained under\nsection 9 of the Registered Land Act (2018 Revision) in respect of the land\nin question, and no restraint order shall bind or affect the land, lease or\ncharge until it has been registered; and\n(c)\nso long as the restraint order remains registered, no instrument which is\ninconsistent with it shall be registered.\nReceivers\n52.\nManagement receivership and enforcement receivership\n52. (1) The court, upon the application of the Director of Public Prosecutions, may\norder a management receivership (to be performed by the Official Receiver) in\nrespect of any realisable property to which a restraint order applies or an\nenforcement receivership (also to be performed by the Official Receiver) in\nrespect of realisable property, if the confiscation order was made, is not satisfied\nand is not subject to appeal.\n(2) The court may empower the Official Receiver \u2014\n(a)\nto take possession of the property;\n(b) to manage or otherwise deal with the property;\n\nSection 52\nProceeds of Crime Act (2025 Revision)\n\nPage 52\nRevised as at 2nd January, 2025\nc\n\n(c)\nto start, carry on or defend any legal proceedings in respect of the property;\n(d) to realise so much of the property as is necessary to meet the receiver\u2019s\nremuneration and expenses; or\n(e)\nin the case of an enforcement receiver to realise the property in such\nmanner as the court may specify.\n(3) The court may by order confer on the receiver power to enter any premises in\nthe Islands and to do any of the following \u2014\n(a)\nsearch for or inspect anything authorised by the court;\n(b) make or obtain a copy, photograph or other record of anything so\nauthorised; and\n(c)\nremove anything which the receiver is required or authorised to take\npossession of in pursuance of an order of the court.\n(4) The court may by order authorise the receiver to do any of the following for the\npurpose of the exercise of that person\u2019s functions \u2014\n(a)\nhold property;\n(b) enter into contracts;\n(c)\nsue and be sued;\n(d) employ agents;\n(e)\nexecute powers of attorney, deeds or other instruments; or\n(f)\ntake any other steps the court thinks appropriate.\n(5) The court may order any person who has possession of realisable property to\nwhich a restraint order applies to give possession of it to the receiver.\n(6) The court \u2014\n(a)\nmay order a person holding an interest in realisable property to which the\nrestraint order applies to make to the receiver such payment as the court\nspecifies in respect of a beneficial interest held by the defendant or the\nrecipient of a tainted gift; or\n(b) may, on the payment being made, by order transfer, grant or extinguish\nany interest in the property.\n(7) Subsections (2), (5) and (6) do not apply to property for the time being subject\nto a charge under section 11 of the prior Law.\n(8) The court shall not \u2014\n(a)\nconfer the power mentioned in subsection (2)(b) or (d) in respect of\nproperty, or\n(b) exercise the power conferred on it by subsection (6) in respect of property,\nunless it gives persons holding interests in the property a reasonable opportunity\nto make representations to the court.\n\nProceeds of Crime Act (2025 Revision)\nSection 53\n\nc\nRevised as at 2nd January, 2025\nPage 53\n\n(9) The court may order that a power conferred by an order under this section is\nsubject to such conditions and exceptions as it specifies.\n(10) Managing or otherwise dealing with property includes \u2014\n(a)\nselling the property or any part of it or interest in it,\n(b) carrying on or arranging for another person to carry on any trade or\nbusiness the assets of which are or are part of the property; and\n(c)\nincurring capital expenditure in respect of the property.\nApplication of sums\n53.\nApplication of proceeds of enforcement\n53. (1) Such of \u2014\n(a)\nthe proceeds of the enforcement of any charge imposed under section 11\nof the prior Law;\n(b) the proceeds of the realisation, other than by the enforcement of such a\ncharge, of any property under section 52; or\n(c)\nany other sums, being property held by the defendant,\nas may be in the hands of the Official Receiver appointed under this Act after\nsuch payments, if any, as the court may direct have been made out of those sums,\nshall be applied on the defendant\u2019s behalf towards the satisfaction of the\nconfiscation order.\n(2) If, after the amount payable under the confiscation order has been fully paid,\nany sums remain in the hands of the Official Receiver, the Official Receiver\nshall distribute them among such of those persons who held property which has\nbeen realised under this Act and in such proportions as the court may direct after\ngiving a reasonable opportunity for such persons to make representations to the\ncourt.\n(3) The receipt of any sum by the Accountant General on account of an amount\npayable under a confiscation order shall reduce the amount so payable, but that\nperson shall apply the money received for such of the purposes specified in this\nsection as may be specified in the confiscation order and in the order so\nspecified.\n(4) Where the money was paid to the Accountant General by the Official Receiver\nunder this Act or in pursuance of a charging order, the Accountant General shall\nfirst pay the Official Receiver\u2019s expenses.\n(5) The Accountant General shall finally pay any compensation directed to be paid\nout of any sums recovered under the confiscation order under section 33.\n(6) Any money remaining in the hands of the Accountant General after that person\nhas made all payments required by subsections (1) to (5) shall be treated as if it\nwere a fine imposed by the court.\n\nSection 54\nProceeds of Crime Act (2025 Revision)\n\nPage 54\nRevised as at 2nd January, 2025\nc\n\n(7) Where, under subsection (3), a sum falls to be applied in payment both of\ncompensation and of other outgoings \u2014\n(a)\nthe person entitled to the compensation shall be liable to pay to the\nrevenues of the Islands such an amount as bears to the remuneration or\nexpenses the same proportion as the amount payable in accordance with\nthe direction under section 33 bears to the total amount payable under the\nconfiscation order;\n(b) the Accountant General shall deduct from the amount falling to be applied\nin payment of the compensation an amount equal to the amount of any\nliability arising by virtue of paragraph (a);\n(c)\nnotwithstanding the deduction under paragraph (b), the person entitled to\nthe compensation shall be treated as having received the whole amount\nwhich falls to be applied in payment of it; and\n(d) the amount deducted shall be treated as if it were a fine imposed by the\ncourt.\n54.\nPayment of receiver\u2019s fees where no assets\n54. Where a receiver is appointed from the private sector and there are no assets or\ninsufficient assets from which that person\u2019s fees can be paid, such reasonable fees as\nthat person may charge or as may remain unpaid after the application of the assets\nshall be paid by the government.\nRestrictions\n55.\nEffect of restraint order\n55. (1) Where a court makes a restraint order or an order under section 52 appointing\nan enforcement receiver in respect of realisable property \u2014\n(a)\nno distress may be levied against any realisable property to which the order\napplies except with the leave of the court and subject to any terms the court\nmay impose;\n(b) if the order applies to a tenancy of any premises, no landlord or other\nperson to whom rent is payable may exercise a right within paragraph (c)\nexcept with the leave of the court and subject to any terms the court may\nimpose;\n(c)\na right is within this paragraph if it is a right of forfeiture by peaceable reentry in relation to the premises in respect of any failure by the tenant to\ncomply with any term or condition of the tenancy; and\n(d) if a court in which proceedings are pending in respect of any property is\nsatisfied that a restraint order has been applied for or made in respect of\nthe property, the court may either stay the proceedings or allow them to\ncontinue on any terms it thinks fit.\n\nProceeds of Crime Act (2025 Revision)\nSection 56\n\nc\nRevised as at 2nd January, 2025\nPage 55\n\n(2) The court, before exercising any power conferred by subsection (1)(d), shall\ngive the Director of Public Prosecutions and any receiver appointed under\nprevious sections an opportunity to be heard.\nReceivers: further provisions\n56.\nProtection\n56. Where a receiver appointed under section 52 \u2014\n(a)\ntakes action in relation to property which is not realisable property;\n(b) would be entitled to take the action if it were realisable property; and\n(c)\nbelieves on reasonable grounds that that receiver is entitled to take the\naction,\nthat receiver is not liable to any person in respect of any loss or damage resulting from\nthe action, except so far as the loss or damage is caused by that receiver\u2019s negligence.\n57.\nFurther applications\n57. (1) This section applies to a receiver appointed under section 52.\n(2) The receiver may apply to the court for an order giving directions as to the\nexercise of that receiver\u2019s powers.\n(3) Any person affected by action taken by the receiver or any person who may be\naffected by any action the receiver proposes to take may apply to the Grand\nCourt.\n(4) On an application under this section the court may make such order as it believes\nis appropriate.\n58.\nDischarge and variation\n58. (1) A receiver, the Director of Public Prosecutions and any person affected by an\norder made under section 52 may apply to the court to vary or discharge the\norder.\n(2) On an application under this section the court may discharge or vary the order.\n(3) In the case of an order under section 52 \u2014\n(a)\nif the condition in section 44 which was satisfied was that proceedings\nwere started or an application was made, the court shall discharge the order\non the conclusion of the proceedings or of the application; and\n(b) if the condition which was satisfied was that an investigation was started\nor an application was to be made, the court shall discharge the order if\nwithin a reasonable time proceedings for the offence are not started or the\napplication is not made.\n\nSection 59\nProceeds of Crime Act (2025 Revision)\n\nPage 56\nRevised as at 2nd January, 2025\nc\n\n59.\nManagement receivers: discharge\n59. (1) Where \u2014\n(a)\na management receiver stands appointed under section 52 in respect of\nrealisable property; and\n(b) the court appoints an enforcement receiver,\nthe court shall order the management receiver to transfer to the other receiver\nall property held by the management receiver by virtue of the powers conferred\non that receiver by section 52.\n(2) Subsection (1) shall not apply to property which the management receiver holds\nby virtue of the exercise by that receiver of that receiver\u2019s power under\nsection 52(2)(d).\n(3) Where the management receiver complies with an order under subsection (2)\nthat person is discharged \u2014\n(a)\nfrom that management receiver\u2019s appointment under section 52; and\n(b) from any obligation under this Act arising from that management\nreceiver\u2019s appointment.\n(4) Where this section applies the court may make such consequential or incidental\norder as it believes is appropriate.\n60.\nAppeal to Court of Appeal\n60. (1) Where on an application for an order under any provision of section 52 the court\ndecides not to make an order, the person who applied for the order may appeal\nto the Court of Appeal against the decision.\n(2) If the court makes an order under section 52 the person who applied for the order\nor any person affected by the order may appeal to the Court of Appeal in respect\nof the court\u2019s decision.\n(3) Where on an application for an order under section 57 the court decides not to\nmake an order, the person who applied for the order may appeal to the Court of\nAppeal against the decision.\n(4) Where the court makes an order under section 58, the following persons may\nappeal to the Court of Appeal in respect of the court\u2019s decision \u2014\n(a)\nthe person who applied for the order;\n(b) any person affected by the order; or\n(c)\nthe receiver.\n(5) The following persons may appeal to the Court of Appeal against a decision of\nthe court on an application under section 58 \u2014\n(a)\nthe person who applied for the order in respect of which the application\nwas made;\n\nProceeds of Crime Act (2025 Revision)\nSection 61\n\nc\nRevised as at 2nd January, 2025\nPage 57\n\n(b) any person affected by the court\u2019s decision; or\n(c)\nthe receiver.\n(6) On an appeal under this section the Court of Appeal may confirm the decision\nof the court or make such order as it believes is appropriate.\nSeized money\n61.\nSeized money\n61. (1) Where money is held by a person and is held in an account maintained by that\nperson with a bank or a building society and \u2014\n(a)\na restraint order has effect in relation to money to which this section\napplies;\n(b) a confiscation order is made against the person by whom the money\nis held;\n(c)\na receiver has not been appointed under section 52 in relation to the\nmoney; and\n(d) any period allowed under section 20 for payment of the amount ordered to\nbe paid under the confiscation order has ended,\na summary court may order the bank or building society to pay the money to the\nClerk of the Court for the court, on account of the amount payable under the\nconfiscation order.\n(2) Where a bank or building society fails to comply with an order under\nsubsection (1) \u2014\n(a)\nthe summary court may order it to pay an amount of five thousand dollars;\nand\n(b) for the purposes of the Summary Jurisdiction Act (2025 Revision) the sum\nis to be treated as adjudged to be paid by a conviction of the summary\ncourt.\n(3) In order to take account of changes in the value of money the Cabinet may by\norder substitute another sum for the sum for the time being specified in\nsubsection (2)(a).\n(4) For the purposes of this section \u2014\n(a)\na \u201cbank\u201d is a deposit-taking business within the meaning of the Banks and\nTrust Companies Act (2021 Revision); and\n(b) \u201cbuilding society\u201d has the same meaning assigned by the Building\nSocieties Act (2020 Revision).\n\nSection 62\nProceeds of Crime Act (2025 Revision)\n\nPage 58\nRevised as at 2nd January, 2025\nc\n\nExercise of powers\n62.\nPowers of court and receiver\n62. (1) This section applies to \u2014\n(a)\nthe powers conferred on a court by sections 45 to 56 and sections 57 to 61;\nand\n(b) the powers of a receiver appointed under section 52.\n(2) Subject to subsection (3), the powers referred to in subsection (1) \u2014\n(a)\nshall be exercised with a view to the value for the time being of realisable\nproperty being made available (by the property\u2019s realisation) for satisfying\nany confiscation order that has been or may be made against the defendant;\n(b) shall be exercised, in a case where a confiscation order has not been made,\nwith a view to securing that there is no diminution in the value of realisable\nproperty;\n(c)\nshall be exercised without taking account of any obligation of the\ndefendant or a recipient of a tainted gift if the obligation conflicts with the\nobject of satisfying any confiscation order that has been or may be made\nagainst the defendant; and\n(d) may be exercised in respect of a debt owed by the Crown.\n(3) Subsection (2) has effect subject to the following \u2014\n(a)\nthe powers shall be exercised with a view to allowing a person other than\nthe defendant or a recipient of a tainted gift to retain or recover the value\nof any interest held by that person;\n(b) in the case of realisable property held by a recipient of a tainted gift, the\npowers shall be exercised with a view to realising no more than the value\nfor the time being of the gift; and\n(c)\nin a case where a confiscation order has not been made against the\ndefendant, property shall not be sold if the court so orders under\nsubsection (4).\n(4) Where on an application by the defendant or by the recipient of a tainted gift,\nthe court decides that property cannot be replaced it may order that it shall not\nbe sold.\n(5) An order under subsection (4) may be revoked or varied.\nCommittal\n63.\nCommittal by summary court\n63. (1) Where \u2014\n(a)\na defendant is convicted of an offence by a summary court; and\n\nProceeds of Crime Act (2025 Revision)\nSection 64\n\nc\nRevised as at 2nd January, 2025\nPage 59\n\n(b) the Director of Public Prosecutions asks the court to commit the defendant\nto the Grand Court with a view to a confiscation order being considered\nunder section 15,\nthe summary court \u2014\n(i)\nshall commit the defendant to the Grand Court in respect of the\noffence; and\n(ii) may commit the defendant to the Grand Court in respect of any other\noffence falling within subsection (2).\n(2) An offence falls within this subsection if \u2014\n(a)\nthe defendant has been convicted of it by the summary court or any other\ncourt; and\n(b) the summary court has power to deal with that person in respect of it.\n(3) Where a committal is made under this section in respect of an offence or\noffences \u2014\n(a)\nsection 15 applies accordingly; and\n(b) the committal operates as a committal of the defendant to be dealt with by\nthe Grand Court in accordance with section 64.\n(4) Where a committal is made under this section in respect of an offence triable\neither way for which (apart from this section) the summary court could have\ncommitted the defendant for sentence under section 7 of the Criminal Procedure\nCode (2021 Revision), the court shall state whether it would have done so.\n(5) A committal under this section may be in custody or on bail.\n64.\nSentencing by Grand Court\n64. (1) Where a defendant is committed to the Grand Court under section 63 in respect\nof an offence or offences, this section applies, whether or not the court proceeds\nunder section 15.\n(2) In the case of an offence in respect of which the summary court has stated under\nsection 63(4) that it would have committed the defendant for sentence, the\nGrand Court \u2014\n(a)\nshall inquire into the circumstances of the case; and\n(b) may deal with the defendant in any way in which it could deal with that\nperson if that person had just been convicted of the offence on indictment\nbefore it.\n(3) In the case of any other offence other than an offence triable either way the\nGrand Court shall inquire into the circumstances of the case, and may deal with\nthe defendant in any way in which the summary court could deal with that\nperson if it had just convicted that person of the offence.\n\nSection 65\nProceeds of Crime Act (2025 Revision)\n\nPage 60\nRevised as at 2nd January, 2025\nc\n\nCompensation\n65.\nSerious default\n65. (1) Where \u2014\n(a)\na criminal investigation has been started with regard to an offence and\nproceedings are not started for the offence and \u2014\n(i)\nin the criminal investigation there has been a serious default by a\nperson mentioned in subsection (2); and\n(ii) the investigation would not have continued if the default had not\noccurred; or\n(b) proceedings for an offence are started against a person and \u2014\n(i)\nthey do not result in that person\u2019s conviction for the offence; or\n(ii) that person is convicted of the offence but the conviction is quashed\nor that person is pardoned in respect of it; and\n(iii) in the criminal investigation with regard to the offence or in its\nprosecution there has been a serious default by a person who is\nmentioned in subsection (2); and\n(iv) the proceedings would not have been started or continued if the\ndefault had not occurred; and\n(c)\nan application is made under this section by a person who held realisable\nproperty and has suffered loss in consequence of anything done in relation\nto it by or in pursuance of an order under this Part,\nthe court may order the payment of such compensation as it believes is just.\n(2) Compensation under this section is payable to the applicant out of the revenues\nof the Islands if the person in default was a person concerned in the investigation\nor prosecution of the offence concerned.\n66.\nOrder varied or discharged\n66. (1) Where \u2014\n(a)\nthe court varies a confiscation order under section 38 or discharges one\nunder section 39; and\n(b) an application is made to the court by a person who held realisable property\nand has suffered loss as a result of the making of the order,\nthe court may order the payment of such compensation as it believes is just.\n(2) Compensation under this section is payable out of the revenue of the Islands.\n\nProceeds of Crime Act (2025 Revision)\nSection 67\n\nc\nRevised as at 2nd January, 2025\nPage 61\n\nEnforcement abroad\n67.\nEnforcement abroad\n67. (1) This section applies if \u2014\n(a)\nany of the conditions in section 44 is satisfied;\n(b) the Director of Public Prosecutions believes that realisable property is\nsituated in a country or territory outside the Islands (the receiving country);\nand\n(c)\nthe Director of Public Prosecutions sends a request for assistance to the\nGovernor with a view to it being forwarded under this section.\n(2) Where no confiscation order has been made, a request for assistance is a request\nto the government of the receiving country to secure that any person is\nprohibited from dealing with realisable property.\n(3) Where a confiscation order has been made and has not been satisfied, discharged\nor quashed, a request for assistance is a request to the government of the\nreceiving country to secure that \u2014\n(a)\nany person is prohibited from dealing with realisable property; and\n(b) realisable property is realised and the proceeds are applied in accordance\nwith the law of the receiving country.\n(4) A request for assistance may be not made for the purposes of this section in a\ncase where a confiscation order has been made and has been satisfied,\ndischarged or quashed.\n(5) Where the Governor believes it is appropriate to do so that person may forward\nthe request for assistance to the government of the receiving country.\n(6) Where property is realised in pursuance of a request under subsection (3) the\namount ordered to be paid under the confiscation order shall be taken to be\nreduced by an amount equal to the proceeds of realisation.\n(7) A certificate purporting to be issued by or on behalf of the requested government\nis admissible as evidence of the facts it states if it states \u2014\n(a)\nthat property has been realised in pursuance of a request under\nsubsection (3);\n(b) the date of realisation; and\n(c)\nthe proceeds of realisation.\n(8) If the proceeds of realisation made in pursuance of a request under\nsubsection (3) are expressed in a currency other than Cayman Islands dollars,\nthey shall be taken to be the Cayman Islands dollar equivalent calculated in\naccordance with the rate of exchange prevailing at the end of the day of\nrealisation.\n\nSection 68\nProceeds of Crime Act (2025 Revision)\n\nPage 62\nRevised as at 2nd January, 2025\nc\n\nInterpretation\n68.\nCriminal lifestyle\n68. (1) A defendant has a criminal lifestyle only if the offence or any of the offences\ntaken into account by the court satisfies any of these tests \u2014\n(a)\nit is specified in Schedule 1;\n(b) it constitutes conduct forming part of a course of criminal activity; or\n(c)\nit is an offence committed over a period of at least six months and the\ndefendant has benefited from the conduct which constitutes the offence.\n(2) Conduct forms part of a course of criminal activity if the defendant has benefited\nfrom the conduct and \u2014\n(a)\nin the proceedings in which that person was convicted that person was\nconvicted of three or more other offences, each of three or more of them\nconstituting conduct from which that person has benefited; or\n(b) in the period of six years ending with the day when those proceedings were\nstarted (or, if there is more than one such day, the earliest day) that person\nwas convicted on at least two separate occasions of an offence constituting\nconduct from which that person has benefited.\n(3) An offence does not satisfy the test in subsection (1)(b) or (c) unless the\ndefendant obtains relevant benefit of not less than five thousand dollars.\n(4) \u201cRelevant benefit\u201d for the purposes of subsection (1)(b) is \u2014\n(a)\nbenefit from conduct which constitutes the offence;\n(b) benefit from any other conduct which forms part of the course of criminal\nactivity and which constitutes an offence of which the defendant has been\nconvicted; or\n(c)\nbenefit from conduct which constitutes an offence which has been or will\nbe taken into consideration by the court in sentencing the defendant for an\noffence mentioned in paragraph (a) or (b).\n(5) \u201cRelevant benefit\u201d for the purposes of subsection (1)(c) is \u2014\n(a)\nbenefit from conduct which constitutes the offence; or\n(b) benefit from conduct which constitutes an offence which has been or will\nbe taken into consideration by the court in sentencing the defendant for the\noffence mentioned in paragraph (a).\n(6) The Cabinet may by order amend Schedule 1 and vary the amount for the time\nbeing specified in subsection (3).\n69.\nConduct and benefit\n69. (1) Criminal conduct is conduct which \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 70\n\nc\nRevised as at 2nd January, 2025\nPage 63\n\n(a)\nconstitutes an offence in the Islands; or\n(b) would constitute such an offence if it occurred in the Islands.\n(2) General criminal conduct of the defendant is all of that person\u2019s criminal\nconduct, and it is immaterial \u2014\n(a)\nwhether conduct occurred before or after the commencement of this\nAct; and\n(b) whether property constituting a benefit from conduct was obtained before\nor after the passing of this Act.\n(3) Particular criminal conduct of the defendant is all of that person\u2019s criminal\nconduct which falls within the following paragraphs \u2014\n(a)\nconduct which constitutes the offence or offences concerned;\n(b) conduct which constitutes offences of which that person was convicted in\nthe same proceedings as those in which that person was convicted of the\noffence or offences concerned; or\n(c)\nconduct which constitutes offences which the court will be taking into\nconsideration in deciding that person\u2019s sentence for the offence or offences\nconcerned.\n(4) A person benefits from conduct if that person obtains property as a result of or\nin connection with the conduct.\n(5) Where a person obtains a pecuniary advantage as a result of or in connection\nwith conduct, that person is to be taken to obtain as a result of or in connection\nwith the conduct a sum of money equal to the value of the pecuniary advantage.\n(6) References to property or a pecuniary advantage obtained in connection with\nconduct include references to property or a pecuniary advantage obtained both\nin that connection and some other connection.\n(7) Where a person benefits from conduct that person\u2019s benefit is the value of the\nproperty obtained.\n70.\nTainted gifts\n70. (1) Whether or not a court has made a decision that a defendant has a criminal\nlifestyle a gift is tainted if \u2014\n(a)\nit was made by the defendant at any time after the relevant day; or\n(b) if it was made by the defendant at any time and was of property \u2014\n(i)\nwhich was obtained by the defendant as a result of or in connection\nwith that person\u2019s general criminal conduct; or\n(ii) which, in whole or part and whether directly or indirectly,\nrepresented in the defendant\u2019s hands property obtained by that person\nas a result of or in connection with that person\u2019s general criminal\nconduct.\n\nSection 71\nProceeds of Crime Act (2025 Revision)\n\nPage 64\nRevised as at 2nd January, 2025\nc\n\n(2) Where a court has decided that the defendant does not have a criminal lifestyle\na gift is considered to be tainted if it was made by the defendant at any time\nafter \u2014\n(a)\nthe date on which the offence concerned was committed; or\n(b) if that person\u2019s particular criminal conduct consists of two or more\noffences and they were committed on different dates, the date of the\nearliest.\n(3) For the purposes of subsection (2) \u2014\n(a)\nan offence which is a continuing offence is committed on the first occasion\nwhen it began to be committed; and\n(b) the defendant\u2019s particular criminal conduct includes any conduct which\nconstitutes offences which the court has taken into consideration in\ndeciding that person\u2019s sentence for the offence or offences concerned.\n(4) A gift may be a tainted gift whether it was made before or after the 30th\nSeptember, 2008, the commencement date of the Proceeds of Crime Law, 2008\n[Law 10 of 2008].\n(5) The relevant day is the first day of the period of six years ending with \u2014\n(a)\nthe day when proceedings for the offence concerned were started against\nthe defendant; or\n(b) if there are two or more offences and proceedings for them were started on\ndifferent days, the earliest of those days.\n71.\nGifts and their recipients\n71. (1) Where the defendant transfers property to another person for a consideration\nwhose value is significantly less than the value of the property at the time of the\ntransfer, the defendant shall be treated as making a gift.\n(2) Where subsection (1) applies the property given is to be treated as such share in\nthe property transferred as is represented by the fraction \u2014\n(a)\nwhose numerator is the difference between the two values mentioned in\nsubsection (1); and\n(b) whose denominator is the value of the property at the time of the transfer.\n(3) References to a recipient of a tainted gift are to a person to whom the defendant\nhas made the gift.\n72.\nValue: the basic rule\n72. Subject to sections 73 and 74, for the purposes of this Act the value of property (other\nthan cash) in relation to any person holding the property \u2014\n(a)\nwhere any other person holds an interest in the property, is \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 73\n\nc\nRevised as at 2nd January, 2025\nPage 65\n\n(i)\nthe market value of the first-mentioned person\u2019s beneficial interest in\nthe property; less\n(ii) the amount required to discharge any encumbrance (other than a\ncharging order under section 12 of the prior Law on that\ninterest); and\n(b) in any other case, its market value.\n73.\nValue of property obtained from conduct\n73. (1) This section applies for the purpose of deciding the value of property obtained\nby a person as a result of or in connection with that person\u2019s criminal conduct;\nand the material time is the time the court makes its decision.\n(2) The value of the property at the material time is the greater of \u2014\n(a)\nthe value of the property at the time the person obtained it adjusted to take\naccount of later changes in the value of money;\n(b) the value at the material time of the property found under subsection (3).\n(3) The property found under this subsection is as follows \u2014\n(a)\nif the person holds the property obtained, the property found under this\nsubsection is that property;\n(b) if that person holds no part of the property obtained, the property found\nunder this subsection is any property which directly or indirectly\nrepresents such property in that person\u2019s hands; or\n(c)\nif that person holds part of the property obtained, the property found under\nthis subsection is that part and any property which directly or indirectly\nrepresents the other part in that person\u2019s hands.\n(4) The references in subsection (2)(a) and (b) to the value are to the value found in\naccordance with section 72.\n74.\nValue of tainted gifts\n74. (1) The value at any time (\u201cthe material time\u201d) of a tainted gift is the greater of the\nfollowing \u2014\n(a)\nthe value at the time of the gift of the property given, adjusted to take\naccount of later changes in the value of money; and\n(b) where subsection (2) applies, the value (at the material time) of the\nproperty there mentioned.\n(2) The property referred to under subsection (1) is as follows \u2014\n(a)\nthe property which the recipient received (not being cash); or\n(b) property which, in whole or in part, directly or indirectly represents in the\nrecipient\u2019s hands the property which that person received.\n\nSection 75\nProceeds of Crime Act (2025 Revision)\n\nPage 66\nRevised as at 2nd January, 2025\nc\n\n(3) The references in subsection (1)(a) and (b) to the value are to the value found in\naccordance with section 72.\n75.\nFree property\n75. For the purposes of this Act property is free unless an order is in force in respect of it\nunder \u2014\n(a)\nsection 29 of the Misuse of Drugs Act (2017 Revision);\n(b) section 28 of the Terrorism Act (2018 Revision) (forfeiture orders); and\n(c)\nsection 87, 96 or 118(2) of this Act.\n76.\nRealisable property and other property\n76. (1) For the purposes of this Act, realisable property is any free property held by the\ndefendant and any free property held by the recipient of a tainted gift.\n(2) Property is all property wherever situated and includes \u2014\n(a)\nmoney;\n(b) all forms of real or personal property;\n(c)\nthings in action and other intangible or incorporeal property.\n(3) The following rules apply in relation to property \u2014\n(a)\nproperty is held by a person if that person holds an interest in it;\n(b) property is obtained by a person if that person obtains an interest in it;\n(c)\nproperty is transferred by one person to another if the first one transfers or\ngrants an interest in it to the second;\n(d) references to property held by a person include references to property\nvested in that person in bankruptcy, permanent or interim, or as liquidator;\n(e)\nreferences to an interest held by a person beneficially in property include\nreferences to an interest which would be held by that person beneficially\nif the property were not so vested;\n(f)\nreferences to an interest, in relation to land in the Islands, are to any legal\nestate or equitable interest or power; and\n(g) references to an interest, in relation to property other than land, include\nreferences to a right (including a right to possession).\n\nProceeds of Crime Act (2025 Revision)\nSection 77\n\nc\nRevised as at 2nd January, 2025\nPage 67\n\nPart 4 - Civil Recovery of the Proceeds, Etc., of Unlawful\nConduct\nINTRODUCTORY\n77.\nGeneral purpose of this Part\n77. (1) This Part has effect for the purposes of \u2014\n(a)\nenabling the Director of Public Prosecutions to recover, in civil\nproceedings before the court, property which is, or represents, property\nobtained through unlawful conduct; and\n(b) enabling cash which is, or represents, property obtained through unlawful\nconduct, or which is intended to be used in unlawful conduct, to be\nforfeited in civil proceedings before a summary court.\n(2) The powers conferred by this Part are exercisable in relation to any property\n(including cash) whether or not any proceedings have been brought for an\noffence in connection with the property.\n78.\nUnlawful conduct\n78. (1) Conduct occurring in any part of the Islands is unlawful conduct if it is unlawful\nunder the criminal laws of the Islands.\n(2) Conduct which \u2014\n(a)\noccurs in a country outside the Islands and is unlawful under the criminal\nlaw of that country; and\n(b) if it occurred in the Islands, would be unlawful under the criminal law of\nthe Islands,\nis also unlawful conduct.\n(3) The court shall decide on a balance of probabilities whether it is proved \u2014\n(a)\nthat any matters alleged to constitute unlawful conduct have occurred; or\n(b) that any person intended to use any cash in unlawful conduct.\n79.\nProperty obtained through unlawful conduct\n79. (1) A person obtains property through unlawful conduct whether that person\u2019s own\nconduct or another\u2019s if that person obtains property by or in return for the\nconduct.\n(2) In deciding whether any property was obtained through unlawful conduct \u2014\n(a)\nit is immaterial whether or not any money, goods or services were provided\nin order to put the person in question in a position to carry out the conduct;\nand\n\nSection 80\nProceeds of Crime Act (2025 Revision)\n\nPage 68\nRevised as at 2nd January, 2025\nc\n\n(b) it is not necessary to show that the conduct was of a particular kind if it is\nshown that \u2014\n(i) the property was obtained through conduct of a specific kind or\nkinds, and that conduct of that kind or those kinds is unlawful\nconduct; or\n(ii) the circumstances in which the property was handled are such as to\ngive rise to the irresistible inference that it can only be derived from\nunlawful conduct.\n\nProceedings for recovery orders\n80.\nProceedings for recovery orders in the Islands\n80. (1) Proceedings for a recovery order may be taken by the Director of Public\nProsecutions in the Grand Court against any person whom the Director of Public\nProsecutions thinks holds recoverable property, being property defined in\nsections 123 to 129.\n(2) The Director of Public Prosecutions shall serve the application \u2014\n(a)\non the respondent; and\n(b) unless the court dispenses with service, on any other person whom the\nDirector of Public Prosecutions thinks holds any associated property which\nthe Director of Public Prosecutions wishes to be subject to a recovery\norder,\nwherever domiciled, resident or present in the Islands.\n(3) Where any property which the Director of Public Prosecutions wishes to be\nsubject to a recovery order is not specified in the application it shall be described\nin the application in general terms and the application shall state whether it is\nalleged to be recoverable property or associated property.\n(4) The references in this section to the application include the particulars of claim,\nwhere they are served subsequently.\n81.\nAssociated property\n81. (1) For the purposes of this Act, \u201cassociated property\u201d means property of any of\nthe following descriptions, including property held by the respondent, which is\nnot itself the recoverable property \u2014\n(a)\nany interest in the recoverable property;\n(b) any other interest in the property in which the recoverable property\nsubsists;\n(c)\nif the recoverable property is a tenancy in common, the tenancy of the other\ntenant; and\n\nProceeds of Crime Act (2025 Revision)\nSection 82\n\nc\nRevised as at 2nd January, 2025\nPage 69\n\n(d) if the recoverable property is part of a larger property, but not a separate\npart, the remainder of that property.\n(2) References to property being associated with recoverable property are to be read\naccordingly.\nProperty freezing orders\n82.\nApplication for property freezing order\n82. (1) Where the Director of Public Prosecutions may take proceedings for a recovery\norder in the Grand Court, that Director of Public Prosecutions may apply to the\ncourt for a property freezing order (whether before or after starting the\nproceedings).\n(2) A property freezing order is an order that \u2014\n(a)\nspecifies or describes the property to which it applies; and\n(b) subject to any exclusions (see section 84(1)(b) and (2)), prohibits any\nperson to whose property the order applies from in any way dealing with\nthe property.\n(3) An application for a property freezing order may be made ex parte if the\ncircumstances are such that notice of the application would prejudice any right\nof the Director of Public Prosecutions to obtain a recovery order in respect of\nany property.\n(4) The court may make a property freezing order on an application if it is satisfied\nthat the condition in paragraph (a) is met and, where applicable, that the\ncondition in paragraph (b) is met, that is to say \u2014\n(a) the first condition is that there is a good arguable case \u2014\n(i) that the property to which the application for the order relates is or\nincludes recoverable property; and\n(ii) that, if any of it is not recoverable property, it is associated property;\nand\n(b) the second condition is that if \u2014\n(i) the property to which the application for the order relates includes\nproperty alleged to be associated property; and\n(ii) the Director of Public Prosecutions has not established the identity of\nthe person who holds it, the Director of Public Prosecutions has taken\nall reasonable steps to do so.\n83.\nVariation and setting aside of order\n83. (1) The court may at any time vary or set aside a property freezing order.\n\nSection 84\nProceeds of Crime Act (2025 Revision)\n\nPage 70\nRevised as at 2nd January, 2025\nc\n\n(2) If the court makes an interim receiving order that applies to all of the property\nto which a property freezing order applies, it shall set aside the property freezing\norder.\n(3) If the court makes an interim receiving order that applies to some but not all of\nthe property to which a property freezing order applies, it shall vary the property\nfreezing order so as to exclude any property to which the interim receiving order\napplies.\n(4) If the court decides that any property to which a property freezing order applies\nis neither recoverable property nor associated property, it shall vary the order so\nas to exclude the property.\n(5) Before exercising power under this Part to vary or set aside a property freezing\norder, the court shall (as well as giving the parties to the proceedings an\nopportunity to be heard) give such an opportunity to any person who may be\naffected by its decision.\n(6) Subsection (5) does not apply where the court is acting as required by\nsubsection (2) or (3).\n84.\nExclusions\n84. (1) The power to vary a property freezing order includes (in particular) power to\nmake exclusions as follows \u2014\n(a)\npower to exclude property from the order; and\n(b) power, otherwise than by excluding property from the order, to make\nexclusions from the prohibition on dealing with the property to which the\norder applies.\n(2) Exclusions from the prohibition on dealing with the property to which the order\napplies (other than exclusions of property from the order) may also be made\nwhen the order is made.\n(3) An exclusion may, in particular, make provision for the purpose of enabling any\nperson \u2014\n(a)\nto meet that person\u2019s reasonable living expenses; or\n(b) to carry on any trade, business, profession or occupation.\n(4) An exclusion may be made subject to conditions.\n(5) If excluded property is not specified in the order it shall be described in the order\nin general terms.\n(6) The power to make exclusions shall, subject to subsection (5), be exercised with\na view to ensuring, so far as practicable, that the satisfaction of any right of the\nDirector of Public Prosecutions to recover the property obtained through\nunlawful conduct is not unduly prejudiced.\n\nProceeds of Crime Act (2025 Revision)\nSection 85\n\nc\nRevised as at 2nd January, 2025\nPage 71\n\n(7) Subsection (6) does not apply where the court is acting as required by\nsection 83(3) or (4).\n85.\nRestriction on proceedings and remedies\n85. (1) While a property freezing order has effect \u2014\n(a)\nthe court may stay any action, execution or other legal process in respect\nof the property to which the order applies; and\n(b) no distress may be levied against the property to which the order applies\nexcept with the leave of the court and subject to any terms the court may\nimpose.\n(2) If a court (whether the Grand Court or any other court) in which proceedings\nare pending in respect of any property is satisfied that a property freezing order\nhas been applied for or made in respect of the property, it may either stay the\nproceedings or allow them to continue on any terms it thinks fit.\n(3) If a property freezing order applies to a tenancy of any premises, no landlord or\nother person to whom rent is payable may exercise the right of forfeiture by\npeaceable re-entry in relation to the premises in respect of any failure by the\ntenant to comply with any term or condition of the tenancy, except with the\nleave of the court and subject to any terms the court may impose.\n(4) Before exercising any power conferred by this section, the court shall (as well\nas giving the parties to any of the proceedings concerned an opportunity to be\nheard) give such an opportunity to any person who may be affected by the\ncourt\u2019s decision.\nOfficial Receiver\n86.\nOfficial Receiver\n86. (1) In exercise of the powers contained in the Public Service Management Act (2018\nRevision) but subject to subsection (2), there shall be appointed in the Ministry\nof Finance and Economic Development an Official Receiver who shall perform\nsuch functions as may be specified under this Act but otherwise be governed by\nthat Act.\n(2) Before making the appointment referred to in subsection (1) the appointing\nofficer shall consult the Deputy Governor, Director of Public Prosecutions and\nFinancial Secretary in relation to the identity of the person to be appointed.\n(3) Wherever under this Act reference is made to a receivership ordered by a court,\nsuch receivership shall be read and construed as a receivership to be performed\nby the Official Receiver but where, in the opinion of the Official Receiver, it is\ninexpedient for the Official Receiver to perform that role in a particular case or\nclass of cases, the Official Receiver shall notify the court and the court may\nappoint a receiver from the private sector.\n\nSection 87\nProceeds of Crime Act (2025 Revision)\n\nPage 72\nRevised as at 2nd January, 2025\nc\n\n(4) Where a receiver from the private sector is so appointed, that receiver shall have\nall the powers, duties and obligations of the Official Receiver as are set out in\nthis Act and which are consistent with that receiver\u2019s private-sector status.\nInterim receiving orders\n87.\nApplication for interim receiving order\n87. (1) Where the Director of Public Prosecutions intends to take proceedings for a\nrecovery order in the Grand Court, the Director of Public Prosecutions may\napply to the court for an interim receiving order, whether before or after starting\nthe proceedings.\n(2) An interim receiving order is an order for \u2014\n(a)\nthe detention, custody or preservation of property; and\n(b) its placing under the Official Receiver on an interim basis.\n(3) An application for an interim receiving order may be made ex parte if the\ncircumstances are such that notice of the application would prejudice any right\nof the Director of Public Prosecutions to obtain a recovery order in respect of\nany property.\n(4) The court may make an interim receiving order on the application by the\nDirector of Public Prosecutions if it is satisfied that the following conditions in\nparagraph (a) and, where applicable, (b) are met \u2014\n(a)\nthere is a good arguable case \u2014\n(i)\nthat the property to which the application for the order relates is or\nincludes recoverable property; and\n(ii) that, if any of it is not recoverable property, it is associated property;\nand\n(b) if \u2014\n(i)\nthe property to which the application for the order relates includes\nproperty alleged to be associated property; and\n(ii) the Director of Public Prosecutions has not established the identity of\nthe person who holds it,\nthe Director of Public Prosecutions has taken all reasonable steps to do so.\n(5) The extent of the power to make an interim receiving order is not limited by\nsections 88 to 94.\n88.\nPowers of Official Receiver during an interim receiving order\n88. (1) An interim receiving order may authorise or require the Official Receiver \u2014\n(a)\nto exercise any of the powers mentioned in Schedule 2; or\n(b) to take any other steps the court thinks appropriate,\n\nProceeds of Crime Act (2025 Revision)\nSection 89\n\nc\nRevised as at 2nd January, 2025\nPage 73\n\nfor the purpose of securing the detention, custody or preservation of the property\nto which the order applies or of taking any steps under subsection (2).\n(2) An interim receiving order shall require the Official Receiver to take any steps\nwhich the court thinks necessary to establish \u2014\n(a)\nwhether or not the property to which the order applies is recoverable\nproperty or associated property; and\n(b) whether or not any other property is recoverable property, in relation to the\nsame unlawful conduct, and, if it is, who holds it.\n(3) Where \u2014\n(a)\nthe Official Receiver deals with any property which is not property to\nwhich the order applies; and\n(b) at the time that the Official Receiver deals with the property the Official\nReceiver believes on reasonable grounds that the Official Receiver is\nentitled to do so in pursuance of the order,\nthe Official Receiver is not liable to any person in respect of any loss or damage\nresulting from the Official Receiver\u2019s dealing with the property except so far as\nthe loss or damage is caused by the Official Receiver\u2019s negligence.\n89.\nRegistration\n89. The Registered Land Act (2018 Revision) \u2014\n(a)\napplies in relation to interim receiving orders as it applies in relation to\norders which affect land and are made by the court for the purpose of\nenforcing judgments or recognizances; and\n(b) applies in relation to applications for interim receiving orders as it applies\nin relation to other pending land actions.\n90.\nDuties of respondent, etc\n90. (1) An interim receiving order may require any person to whose property the order\napplies \u2014\n(a)\nto bring the property to a place in the Islands specified by the Official\nReceiver or to place it in the custody of the Official Receiver (if, in either\ncase, that person is able to do so); and\n(b) to do anything that person is reasonably required to do by the Official\nReceiver for the preservation of the property.\n(2) An interim receiving order may require any person to whose property the order\napplies to bring any documents relating to the property which are in that\nperson\u2019s possession or control to a place in the Islands specified by the Official\nReceiver or to place them in the custody of the Official Receiver.\n\nSection 91\nProceeds of Crime Act (2025 Revision)\n\nPage 74\nRevised as at 2nd January, 2025\nc\n\n(3) \u201cdocument\u201d means anything in which information of any description is\nrecorded.\n91.\nSupervision of Official Receiver and variation of order\n91. (1) The Official Receiver, any party to the proceedings and any person affected by\nany action taken by the Official Receiver, or who may be affected by any action\nproposed to be taken by that person, may at any time apply to the court for\ndirections as to the exercise of the Official Receiver\u2019s functions.\n(2) Before giving any directions under subsection (1), the court shall (as well as\ngiving the parties to the proceedings an opportunity to be heard) give such an\nopportunity to the Official Receiver and to any person who may be interested in\nthe application.\n(3) The court may at any time vary or set aside an interim receiving order.\n92.\nRestrictions on dealing, etc., with property\n92. (1) An interim receiving order shall, subject to any exclusions made in accordance\nwith this section, prohibit any person to whose property the order applies from\ndealing with the property.\n(2) Exclusions may be made when the interim receiving order is made or on an\napplication to vary the order and before exercising any power under this Part to\nvary or set aside an interim receiving order, the court shall (as well as giving the\nparties to the proceedings an opportunity to be heard) give such an opportunity\nto the Official Receiver and to any person who may be affected by the court\u2019s\ndecision.\n(3) An exclusion may, in particular, make provision for the purpose of enabling any\nperson to meet that person\u2019s reasonable living expenses or to carry on any trade,\nbusiness, profession or occupation and may be made subject to conditions.\n(4) An exclusion may not be made for the purpose of enabling any person to meet\nany legal expenses in respect of proceedings under this Part.\n(5) Where the excluded property is not specified in the order it shall be described\nin the order in general terms.\n(6) The power to make exclusions shall be exercised with a view to ensuring, so far\nas practicable, that the satisfaction of any right of the Director of Public\nProsecutions to recover the property obtained through unlawful conduct is not\nunduly prejudiced.\n93.\nRestriction on proceedings and remedies\n93. (1) While an interim receiving order has effect \u2014\n(a)\nthe court may stay any action, execution or other legal process in respect\nof the property to which the order applies; and\n\nProceeds of Crime Act (2025 Revision)\nSection 94\n\nc\nRevised as at 2nd January, 2025\nPage 75\n\n(b) no distress may be levied against the property to which the order applies\nexcept with the leave of the court and subject to any terms the court may\nimpose.\n(2) Where a court (whether the Grand Court or any other court) in which\nproceedings are pending in respect of any property is satisfied that an interim\nreceiving order has been applied for or made in respect of the property, the court\nmay either stay the proceedings or allow them to continue on any terms it thinks\nfit.\n(3) Where the interim receiving order applies to a tenancy of any premises, no\nlandlord or other person to whom rent is payable may exercise any right of\nforfeiture by peaceable re-entry in relation to the premises in respect of any\nfailure by the tenant to comply with any term or condition of the tenancy, except\nwith the leave of the court and subject to any terms the court may impose.\n(4) Before exercising any power conferred by this section, the court shall (as well\nas giving the parties to any of the proceedings in question an opportunity to be\nheard) give such an opportunity to the Official Receiver (if appointed) and any\nperson who may be affected by the court\u2019s decision.\n94.\nExclusion of property which is not recoverable, etc.\n94. (1) Where the court decides that any property to which an interim receiving order\napplies is neither recoverable property nor associated property, it shall vary the\norder so as to exclude it.\n(2) The court may vary an interim receiving order so as to exclude from the property\nto which the order applies any property which is alleged to be associated\nproperty if the court thinks that the satisfaction of any right of the Director of\nPublic Prosecutions to recover the property obtained through unlawful conduct\nwill not be prejudiced.\n(3) The court may exclude any property within subsection (2) on any terms or\nconditions applying while the interim receiving order has effect, which the court\nthinks necessary.\n95.\nReporting\n95. (1) An interim receiving order shall require the Official Receiver to inform the\nDirector of Public Prosecutions and the court as soon as reasonably practicable\nif that Official Receiver thinks that \u2014\n(a)\nany property to which the order applies by virtue of a claim that it is\nrecoverable property is not recoverable property;\n(b) any property to which the order applies by virtue of a claim that it is\nassociated property is not associated property;\n(c)\nany property to which the order does not apply is recoverable property (in\nrelation to the same unlawful conduct) or associated property;\n\nSection 96\nProceeds of Crime Act (2025 Revision)\n\nPage 76\nRevised as at 2nd January, 2025\nc\n\n(d) any property to which the order applies is held by a person who is different\nfrom the person it is claimed holds it; or\n(e)\nthere has been any material change of circumstances.\n(2) An interim receiving order shall require the Official Receiver \u2014\n(a)\nto report that Official Receiver\u2019s findings to the court; and\n(b) to serve copies of that Official Receiver\u2019s report on the Director of Public\nProsecutions and on any person who holds any property to which the order\napplies or who may otherwise be affected by the report.\nVesting and realisation of recoverable property\n96.\nRecovery orders\n96. (1) Where in proceedings under this Part the court is satisfied that any property is\nrecoverable, the court shall make a recovery order.\n(2) The recovery order shall vest the recoverable property in the trustee for civil\nrecovery.\n(3) The court may not make in a recovery order any provision in respect of any\nrecoverable property if each of the conditions in subsection (4) is met and it\nwould not be just and equitable to do so.\n(4) The conditions referred to in subsection (3) are that \u2014\n(a)\nthe respondent obtained the recoverable property in good faith;\n(b) the respondent took steps after obtaining the property which that person\nwould not have taken if that person had not obtained it or that person took\nsteps before obtaining the property which that person would not have taken\nif that person had not believed that person was going to obtain it;\n(c)\nwhen that person took the steps, that person had no notice that the property\nwas recoverable; and\n(d) if a recovery order were made in respect of the property, it would, by\nreason of the steps, be detrimental to that person.\n(5) In deciding whether it would be just and equitable to make the provision in the\nrecovery order where the conditions in subsection (4) are met, the court shall\nhave regard to \u2014\n(a)\nthe degree of detriment that would be suffered by the respondent if the\nprovision were made; and\n(b) the Director of Public Prosecutions\u2019 interest in receiving the realised\nproceeds of the recoverable property.\n(6) A recovery order may sever any property and may impose conditions as to the\nmanner in which the civil recovery may deal with any property vested by the\norder for the purpose of realising it.\n\nProceeds of Crime Act (2025 Revision)\nSection 97\n\nc\nRevised as at 2nd January, 2025\nPage 77\n\n(7) This section is subject to sections 99 to 103.\n97.\nPowers of the trustee for civil recovery\n97. (1) The trustee for civil recovery shall be the Official Receiver appointed under this\nAct.\n(2) The functions of the trustee are \u2014\n(a)\nto secure the detention, custody or preservation of any property vested in\nthat trustee by the recovery order;\n(b) in the case of property other than money, to realise the value of the\nproperty for the benefit of the Accountant General; and\n(c)\nto perform any other functions conferred on that trustee by virtue of this\nPart.\n(3) In performing that trustee\u2019s functions, the trustee acts on behalf of the\nAccountant General and shall comply with any directions given by the\nAccountant General.\n(4) The trustee shall realise the value of property vested in that trustee by the\nrecovery order, so far as practicable, in the manner best calculated to maximise\nthe amount payable to the Accountant General.\n(5) The trustee has the powers mentioned in Schedule 3.\n(6) References in this section to a recovery order include an order under section 102\nand references to property vested in the trustee by a recovery order include\nproperty vested in that trustee in pursuance of an order under section 102.\n98.\nRights of pre-emption, etc.\n98. (1) A recovery order shall have effect in relation to any property despite any\nprovision (of whatever nature) which would otherwise prevent, penalise or\nrestrict the vesting of the property.\n(2) A right of pre-emption, right of return or other similar right does not operate or\nbecome exercisable as a result of the vesting of any property under a recovery\norder.\n(3) A right of return means any right under a provision for the return or reversion\nof property in specified circumstances.\n(4) Where property is vested under a recovery order, any such right shall have effect\nas if the person in whom the property is vested were the same person in law as\nthe person who held the property and as if no transfer of the property had taken\nplace.\n(5) References to rights in subsections (2) and (3) do not include any rights in\nrespect of which the recovery order was made.\n\nSection 99\nProceeds of Crime Act (2025 Revision)\n\nPage 78\nRevised as at 2nd January, 2025\nc\n\n(6) This section applies in relation to the creation of interests, or the doing of\nanything else, by a recovery order as it applies in relation to the vesting of\nproperty.\n99.\nAssociated and joint property\n99. (1) Sections 100 and 101 apply if the court makes a recovery order in respect of any\nrecoverable property in a case where \u2014\n(a)\nthe property to which the proceedings relate includes property which is\nassociated with the recoverable property and is specified or described in\nthe application; and\n(b) if the associated property is not the respondent\u2019s property, the claim form\nor application has been served on the person whose property it is or the\ncourt has dispensed with service; or\n(c)\nthe recoverable property belongs to joint tenants and one of the tenants is\nan excepted joint owner.\n(2) An \u201cexcepted joint owner\u201d is a person who obtained the property in\ncircumstances in which it would not be recoverable as against that person; and\nreferences to the excepted joint owner\u2019s share of the recoverable property are to\nso much of the recoverable property as would have been that person\u2019s if the joint\ntenancy had been severed.\n100. Agreements about associated and joint property\n100. (1) Where this section applies, and the Director of Public Prosecutions and the\nperson who holds the associated property or who is the excepted joint owner\nagree, the recovery order may, instead of vesting the recoverable property in the\ntrustee for civil recovery, require the person who holds the associated property\nor who is the excepted joint owner to make a payment to the trustee.\n(2) A recovery order which makes any requirement under subsection (1) may, so\nfar as required for giving effect to the agreement, include provision for vesting,\ncreating or extinguishing any interest in the property.\n(3) The amount of the payment shall be the amount which the Director of Public\nProsecutions and that person agree, represents \u2014\n(a)\nin a case within section 99(1)(a) and (b), the value of the recoverable\nproperty;\n(b) in a case within section 99(1)(c), the value of the recoverable property less\nthe value of the excepted joint owner\u2019s share.\n(4) Notwithstanding subsection (3), if \u2014\n(a)\nan interim receiving order applied at any time to the associated property or\njoint tenancy; and\n\nProceeds of Crime Act (2025 Revision)\nSection 101\n\nc\nRevised as at 2nd January, 2025\nPage 79\n\n(b) the Director of Public Prosecutions agrees that the person has suffered loss\nas a result of the interim receiving order,\nthe amount of the payment may be reduced by any amount the Director of Public\nProsecutions and that person agree is reasonable, having regard to that loss and\nto any other relevant circumstances.\n(5) Where there is more than one such item of associated property or excepted joint\nowner, the total amount to be paid to the trustee, and the part of that amount\nwhich is to be provided by each person who holds any such associated property\nor who is an excepted joint owner, shall be agreed between both, or all of them\nand the Director of Public Prosecutions.\n(6) A recovery order which makes any requirement under subsection (1) shall make\nprovision for any recoverable property to cease to be recoverable.\n101. Associated and joint property: default of agreement\n101. (1) Where there is no agreement under section 100 and the court thinks it is\nequitable and just to do so it may make a recovery order which provides \u2014\n(a)\nfor the associated property to vest in the trustee for civil recovery or, as the\ncase may be, for the excepted joint owner\u2019s interest to be extinguished; or\n(b) in the case of an excepted joint owner, for the severance of that person\u2019s\ninterest.\n(2) A recovery order making any provision by virtue of subsection (1)(a) may\nprovide \u2014\n(a)\nfor the trustee to pay an amount to the person who holds the associated\nproperty or who is an excepted joint owner; or\n(b) for the creation of interests in favour of that person, or the imposition of\nliabilities or conditions, in relation to the property vested in the trustee,\nor for both.\n(3) In making any provision in a recovery order by virtue of subsection (1) or (2),\nthe court shall have regard to \u2014\n(a)\nthe rights of any person who holds the associated property or who is an\nexcepted joint owner and the value to that person of that property or, as the\ncase may be, of that person\u2019s share (including any value which cannot be\nassessed in terms of money); and\n(b) the interest of the Director of Public Prosecutions in receiving the realised\nproceeds of the recoverable property.\n(4) Where \u2014\n(a)\nan interim receiving order applied at any time to the associated property or\njoint tenancy; and\n\nSection 102\nProceeds of Crime Act (2025 Revision)\n\nPage 80\nRevised as at 2nd January, 2025\nc\n\n(b) the court is satisfied that the person who holds the associated property or\nwho is an excepted joint owner has suffered loss as a result of the interim\nreceiving order,\na recovery order making any provision by virtue of subsection (1) or (2) may\nrequire the Director of Public Prosecutions to pay compensation to that person.\n(5) The amount of compensation to be paid under subsection (4) is the amount the\ncourt thinks reasonable, having regard to the person\u2019s loss and to any other\nrelevant circumstances.\n102. Consent orders\n102. (1) The court may make an order staying any proceedings for a recovery order on\nterms agreed by the parties for the disposal of the proceedings if each person to\nwhose property the proceedings or the agreement relates is a party both to the\nproceedings and the agreement.\n(2) An order under subsection (1) may, as well as staying the proceedings on\nterms \u2014\n(a)\nmake provision for any property which may be recoverable property to\ncease to be recoverable; and\n(b) make any further provision which the court thinks appropriate.\n103. Limit on recovery\n103. (1) Where the Director of Public Prosecutions seeks a recovery order of any kind,\nthe court shall not make a recovery order if it thinks that the Director of Public\nProsecutions\u2019 right to recover property which is the original property or\nrepresents such property has been fully satisfied by a previous recovery order or\norder under section 102.\n(2) Where that right has not been fully satisfied the court may, to the extent required,\nmake a recovery order in respect of \u2014\n(a)\nonly some of the related items of property; or\n(b) only a part of the related items of property.\n104. Section 103: supplementary\n104. (1) Where \u2014\n(a)\nthere is a disposal, other than a part disposal, of the original property; and\n(b) other property (the representative property) is obtained in its place,\nthe Director of Public Prosecutions\u2019 right to recover the original property is\nsatisfied by the making of a recovery order in respect of either the original\nproperty or the representative property.\n(2) Where \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 105\n\nc\nRevised as at 2nd January, 2025\nPage 81\n\n(a)\nthere is a part disposal of the original property; and\n(b) other property (\u201cthe representative property\u201d) is obtained in place of the\nproperty disposed of,\nthe Director of Public Prosecutions\u2019 right to recover the original property is\nsatisfied by the making of a recovery order in respect of the remainder of the\noriginal property together with either the representative property or the property\ndisposed of.\n(3) In this section \u2014\n(a)\na \u201cpart disposal\u201d means a disposal to which section 132(1) applies; and\n(b) the \u201coriginal property\u201d has the same meaning as in section 124.\n105. Applying realised proceeds\n105. (1) This section applies to \u2014\n(a)\nsums which represent the realised proceeds of property which was vested\nin the trustee for civil recovery by a recovery order or which that person\nobtained in pursuance of a recovery order; and\n(b) sums vested in the trustee by a recovery order or obtained by that person\nin pursuance of a recovery order.\n(2) The trustee shall, out of the sums referred to under subsection (1) \u2014\n(a)\nfirstly, make any payment required to be made by that person by virtue of\nsection 100; and\n(b) secondly, pay any expenses incurred by a person acting as an insolvency\npractitioner which are payable in accordance with this Act,\nand any sum which remains shall be paid to the Accountant General for the\nrevenue of the Islands.\n(3) This section applies to property vested in the trustee for civil recovery, or money\npaid to that person, in pursuance of the agreement as it applies to property vested\nin that person by a recovery order or money paid under section 100.\nExemptions, etc.\n106. Victims of theft, etc.\n106. (1) In proceedings for a recovery order, a person who claims that any property\nalleged to be recoverable property, or any part of the property, belongs to that\nperson may apply for a declaration under this section.\n(2) Where the court finds that \u2014\n(a)\nthe person was deprived of the property that person claims, or of property\nwhich it represents, by unlawful conduct;\n\nSection 107\nProceeds of Crime Act (2025 Revision)\n\nPage 82\nRevised as at 2nd January, 2025\nc\n\n(b) the property that person was deprived of was not recoverable property\nimmediately before that person was deprived of it; and\n(c)\nthe property that person claims belongs to that person,\nthe court may make a declaration under this section.\n(3) Property to which a declaration under this section applies is not recoverable\nproperty.\n107. Other exemptions\n107. Proceedings for a recovery order may not be taken \u2014\n(a)\nagainst any person in circumstances of a description prescribed by\nregulations; and the circumstances may relate to the person themselves or\nto the property or to any other matter;\n(b) in respect of cash found at any place in the Islands unless the proceedings\nare also taken in respect of property other than cash which is property of\nthe same person;\n(c)\nin respect of any property which are the assets intended as security for\nfinancial markets; or\n(d) against any person in respect of any recoverable property which that\nperson holds by reason of that person\u2019s acting, or having acted, as an\ninsolvency practitioner.\nMiscellaneous\n108. Compensation\n108. (1) Where, in the case of any property to which an interim receiving order has at\nany time applied, the court does not in the course of the proceedings decide that\nthe property is recoverable property or associated property, the person whose\nproperty it is may make an application to the court for compensation.\n(2) Subsection (1) does not apply if the court \u2014\n(a)\nhas made a declaration in respect of the property by virtue of\nsection 106; or\n(b) makes an order under section 102.\n(3) Where the court has made a decision by reason of which no recovery order could\nbe made in respect of the property, the application for compensation shall be\nmade within the period of three months beginning with the date of the decision\nor, if any application is made for leave to appeal, within the date on which the\napplication is withdrawn or refused or (if the application is granted) the date on\nwhich any proceedings on appeal are finally concluded.\n\nProceeds of Crime Act (2025 Revision)\nSection 109\n\nc\nRevised as at 2nd January, 2025\nPage 83\n\n(4) If the proceedings in respect of the property have been discontinued, the\napplication for compensation shall be made within the period of three months\nbeginning with the discontinuance.\n(5) Where the court is satisfied that the applicant has suffered loss as a result of the\ninterim receiving order, it may require the Director of Public Prosecutions to\npay compensation to that person.\n(6) Where, but for section 98(2), any right mentioned there would have operated in\nfavour of, or become exercisable by, any person, that person may make an\napplication to the court for compensation.\n(7) The application for compensation under subsection (6) shall be made within the\nperiod of three months beginning with the vesting referred to in section 98(2).\n(8) Where the court is satisfied that, in consequence of the operation of section 98,\nthe right in question cannot subsequently operate in favour of the applicant\nor (as the case may be) become exercisable by that person, it may require the\nDirector of Public Prosecutions to pay compensation to that person.\n(9) The amount of compensation to be paid under this section is the amount the\ncourt thinks reasonable, having regard to the loss suffered and any other relevant\ncircumstances.\n109. Financial threshold\n109. (1) Subject to subsection (2), at any time when an order specifying an amount for\nthe purposes of this section has effect, the Director of Public Prosecutions may\nnot start proceedings for a recovery order unless that person reasonably believes\nthat the aggregate value of the recoverable property which that person wishes to\nbe subject to a recovery order is not less than the specified amount.\n(2) The power to make an order under subsection (1) is exercisable by Cabinet but\nbefore that power is exercised, the threshold amount shall be ten thousand\ndollars.\n(3) If the Director of Public Prosecutions applies for an interim receiving order\nbefore starting the proceedings, subsection (1) applies to the application instead\nof to the start of the proceedings.\n(4) This section does not affect the continuation of proceedings for a recovery order\nwhich have been properly started or the making or continuing effect of an\ninterim receiving order which has been properly applied for.\n\nSection 110\nProceeds of Crime Act (2025 Revision)\n\nPage 84\nRevised as at 2nd January, 2025\nc\n\nRECOVERY OF CASH IN SUMMARY PROCEEDINGS\nSearches\n110. Searches\n110. (1) Where a customs officer or a constable who is lawfully on any premises has\nreasonable grounds for suspecting that there is on the premises cash \u2014\n(a)\nwhich is recoverable property or is intended by any person for use in\nunlawful conduct; and\n(b) the amount of which is not less than the minimum amount,\nthat customs officer or constable may search for the cash there.\n(2) Where a customs officer or a constable has reasonable grounds for suspecting\nthat a person (the suspect) is carrying cash \u2014\n(a)\nwhich is recoverable property or is intended by any person for use in\nunlawful conduct; and\n(b) the amount of which is not less than the minimum amount,\nthat customs officer or constable may exercise the following powers conferred\nby this section.\n(3) The officer or constable may, so far as that person thinks it necessary or\nexpedient, require the suspect to permit a search of any article that person has\nwith that person, or to permit a search of that person\u2019s person.\n(4) An officer or constable exercising powers by virtue of subsection (3) may detain\nthe suspect for so long as is necessary for their exercise.\n(5) The powers conferred by this section are exercisable only so far as reasonably\nrequired for the purpose of finding cash.\n(6) Cash means \u2014\n(a)\nnotes and coins in any currency;\n(b) postal orders;\n(c)\ncheques of any kind, including travellers cheques;\n(d) bankers\u2019 drafts;\n(e)\nbearer bonds and bearer shares,\nfound at any place in the Islands.\n(7) For the purposes of this section \u201ccash\u201d also includes any kind of monetary\ninstrument which is found at any place in the Islands, but the Cabinet may by\nan order exclude any monetary instrument from the application of this section.\n(7A) For the purposes of this section and Schedule 5 the words \u201cminimum amount\u201d\nmeans one thousand Cayman Islands dollars.\n\nProceeds of Crime Act (2025 Revision)\nSection 111\n\nc\nRevised as at 2nd January, 2025\nPage 85\n\n(8) This section does not require a person to submit to an intimate search or to a\nstrip search.\n111. Prior approval\n111. (1) The powers conferred by section 110 may be exercised only with the approval\nof a judicial officer unless, in the circumstances, it is not practicable to obtain\nthat approval before exercising the power, in which case the approval of a senior\nofficer shall be necessary.\n(2) A judicial officer means a justice of the peace or a magistrate.\n(3) A senior officer means \u2014\n(a)\nin relation to the exercise of the power by a constable, a constable of at\nleast the rank of superintendent; or\n(b) in relation to the exercise of the powers by a customs officer, a customs\nofficer of a rank designated by the Director of Customs and Border Control\nequivalent to that of a police officer of at least the rank of superintendent.\n(4) Where the powers are exercised without the approval of a judicial officer in a\ncase where no cash is seized by virtue of section 114, or any cash so seized is\nnot detained for more than 48 hours, the senior officer who exercised the powers\nshall give a written report to the Commissioner of Police or the Director of\nCustoms and Border Control.\n(5) The report shall give particulars of the circumstances which led the officer or\nthe constable to believe that the powers were exercisable, and it was not\npracticable to obtain the approval of a judicial officer.\n112. Report on exercise of powers\n112. (1) As soon as possible after the end of each financial year, the appointed person\nshall prepare a report for that year.\n(2) For the purposes of this section, \u201cfinancial year\u201d means \u2014\n(a)\nthe period beginning on 30th September, 2008, the commencement date of\nthe Proceeds of Crime Law, 2008 [Law 10 of 2008], the day on which this\nsection comes into force and ending with the next 30th June (which is the\nfirst financial year); and\n(b) each subsequent period of twelve months beginning with 1st July.\n(3) In the report the appointed person shall give that person\u2019s opinion as to the\ncircumstances and manner in which the powers conferred by section 110 are\nbeing exercised in cases where the officer or constable who exercised them is\nrequired to give a report under section 111(3); and that person may make any\nrecommendations that person considers appropriate.\n(4) The appointed person shall send a copy of that person\u2019s report to the Cabinet\nand it shall thereafter be published in such manner as the Cabinet determines.\n\nSection 113\nProceeds of Crime Act (2025 Revision)\n\nPage 86\nRevised as at 2nd January, 2025\nc\n\n(5) The Cabinet shall cause to be laid a copy of any report it receives under this\nsection before the Cayman Islands Parliament.\n(6) In this section, the appointed person means a person appointed by the Cabinet.\n(7) The appointed person shall not be a public officer employed under or for the\npurposes of a government department.\n113. Code of practice\n113. (1) The Cabinet shall, upon the recommendation of the Commissioner of Police and\nthe Director of Customs and Border Control, issue a code of practice in\nconnection with the exercise by customs officers and constables of the powers\nconferred by virtue of section 110.\n(2) Where it proposes to issue a code of practice the Cabinet shall \u2014\n(a)\npublish a draft;\n(b) consider any representations made to the Cabinet about the draft by any\nother person; and\n(c)\nif the Cabinet thinks it appropriate, modify the draft in the light of any such\nrepresentations.\n(3) The Cabinet shall cause to be laid before the Cayman Islands Parliament the\ndraft of the code.\n(4) After the Cabinet has laid a draft of the code before the Cayman Islands\nParliament the Cabinet may bring it into operation by order.\n(5) The Cabinet may revise the whole or any part of the code issued by it and issue\nthe code as revised; and subsections (2) to (4) apply to such a revised code as\nthey apply to the original code.\n(6) A failure by a customs officer or a constable to comply with a provision of the\ncode does not of itself make that person liable to criminal or civil proceedings.\n(7) The code is admissible in evidence in criminal or civil proceedings and shall be\ntaken into account by a court or tribunal in any case in which it appears to the\ncourt or tribunal to be relevant.\nSeizure and detention\n114. Seizure of cash\n114. (1) A customs officer or a constable may seize any cash if that person has reasonable\ngrounds for suspecting that it is recoverable property or intended by any person\nfor use in unlawful conduct.\n(2) A customs officer or a constable may also seize cash part of which that person\nhas reasonable grounds for suspecting to be recoverable property or intended by\nany person for use in unlawful conduct if it is not reasonably practicable to seize\nonly that part.\n\nProceeds of Crime Act (2025 Revision)\nSection 115\n\nc\nRevised as at 2nd January, 2025\nPage 87\n\n(3) After a seizure is made by a customs officer under this section, the Director of\nCustoms and Border Control shall within thirty days of the seizure, report that\nseizure to the Financial Reporting Authority.\n115. Detention of seized cash\n115. (1) While the customs officer or constable continues to have reasonable grounds for\nthat person\u2019s suspicion, cash seized under section 114 may be detained initially\nfor a period of 48 hours which shall not include any Saturday or any excluded\nday.\n(2) The period for which the cash or any part of it may be detained may be extended\nby an order made by a summary court but the order may not authorise the\ndetention of any of the cash \u2014\n(a)\nbeyond the end of the period of three months beginning with the date of\nthe order; and\n(b) in the case of any further order under this section, beyond the end of the\nperiod of two years beginning with the date of the first order.\n(3) An application for an order under subsection (2) may be made by the Director\nof Customs and Border Control or by a constable and the summary court may\nmake the order if satisfied, in relation to any cash to be further detained, that \u2014\n(a)\nthere are reasonable grounds for suspecting that the cash is recoverable\nproperty and that either \u2014\n(i)\nits continued detention is justified while its derivation is further\ninvestigated or consideration is given to bringing (in the Islands or\nelsewhere) proceedings against any person for an offence with which\nthe cash is connected; or\n(ii) proceedings against any person for an offence with which the cash is\nconnected have been started and have not been concluded; or\n(b) there are reasonable grounds for suspecting that the cash is intended to be\nused in criminal conduct and that either \u2014\n(i)\nits continued detention is justified while its intended use is further\ninvestigated or consideration is given to bringing (in the Islands or\nelsewhere) proceedings against any person for an offence with which\nthe cash is connected; or\n(ii) proceedings against any person for an offence with which the cash is\nconnected have been started and have not been concluded,\nand the summary court may order that cash to be detained where the Director of\nPublic Prosecutions has applied to the court for the cash to be detained while\nconsideration is being given to the institution of proceedings for civil recovery\nunder section 118.\n\nSection 116\nProceeds of Crime Act (2025 Revision)\n\nPage 88\nRevised as at 2nd January, 2025\nc\n\n(4) An application for an order under subsection (2) may also be made in respect of\nany cash seized under section 114(2), and the summary court may make the\norder if satisfied that \u2014\n(a)\nthe condition in subsection (3)(a) or (b) is met in respect of part of the cash;\nand\n(b) it is not reasonably practicable to detain only that part.\n(5) An order under subsection (2) shall provide for notice to be given to persons\naffected by it.\n116. Interest\n116. (1) Where cash is detained under section 115 for more than 48 hours, it shall be\npaid at the first opportunity into an interest-bearing account and held there; and\nthe interest accruing on it shall be added to it on its forfeiture or release.\n(2) In the case of cash detained under section 115 which was seized under\nsection 114(2), the customs officer or constable shall, on paying it into the\naccount, release the part of the cash to which the suspicion does not relate.\n(3) Subsection (1) does not apply if the cash or, as the case may be, the part to which\nthe suspicion relates is required as evidence of an offence or evidence in\nproceedings under this Part.\n117. Release of detained cash\n117. (1) While any cash is detained under section 115 a summary court may direct the\nrelease of the whole or any part of the cash if the court is satisfied, on an\napplication by the person from whom the cash was seized, that the conditions in\nsection 118 for the detention of the cash are no longer met in relation to the cash\nto be released.\n(2) A constable or a customs officer may, after notifying the summary court under\nwhose order cash is being detained, release the whole or any part of it if satisfied\nthat the detention of the cash to be released is no longer justified.\nForfeiture\n118. Forfeiture\n118. (1) While cash is detained under section 115, an application for the forfeiture of the\nwhole or any part of it may be made to a summary court by the Director of\nPublic Prosecutions.\n(2) The court may order the forfeiture of the cash or any part of it if satisfied that\nthe cash or part is recoverable property or that it is intended by any person for\nuse in unlawful conduct.\n\nProceeds of Crime Act (2025 Revision)\nSection 119\n\nc\nRevised as at 2nd January, 2025\nPage 89\n\n(3) In the case of recoverable property which belongs to joint tenants, one of whom\nis an excepted joint owner, the order may not apply to such part of it as the court\nthinks is attributable to the excepted joint owner\u2019s share.\n(4) Where an application for the forfeiture of any cash is made under this section,\nthe cash shall be detained and may not be released under any power conferred\nby this Part until any proceedings in pursuance of the application, including any\nproceedings on appeal, are concluded.\n119. Appeal against forfeiture\n119. (1) Any party to proceedings in which an order is made under section 118 for the\nforfeiture of cash who is aggrieved by the order may appeal to the Grand Court.\n(2) An appeal under subsection (1) shall be made within the period of thirty days\nbeginning with the date on which the order is made and the appeal shall be by\nway of a rehearing.\n(3) The Grand Court may make any order it thinks appropriate and if the court\nupholds the appeal it may order the release of the cash.\n120. Application of forfeited cash\n120. Cash forfeited under this Part and any accrued interest on it shall be paid into the\nrevenues of the Islands but it shall not to be paid in \u2014\n(a)\nbefore the end of the period within which an appeal under section 119 may\nbe made; or\n(b) before the appeal is determined or otherwise disposed of, if a person\nappeals under that section.\nSupplementary\n121. Victims and other owners\n121. (1) A person who claims that any cash detained under this Part, or any part of it,\nbelongs to that person may apply to a summary court for the cash or part of it to\nbe released to that person.\n(2) The application may be made in the course of proceedings under section 115 or\n118 or at any other time.\n(3) Where it appears to the court that \u2014\n(a)\nthe applicant was deprived of the cash to which the application relates, or\nof property which it represents, by unlawful conduct;\n(b) the property that person was deprived of was not, immediately before that\nperson was deprived of it, recoverable property; and\n(c)\nthat cash belongs to that person,\n\nSection 122\nProceeds of Crime Act (2025 Revision)\n\nPage 90\nRevised as at 2nd January, 2025\nc\n\nthe court may order the cash to which the application relates to be released to\nthe applicant.\n(4) Where \u2014\n(a)\nthe applicant is not the person from whom the cash to which the application\nrelates was seized;\n(b) it appears to the court that that cash belongs to the applicant;\n(c)\nthe court is satisfied that the conditions in section 115 for the detention of\nthat cash are no longer met or, if an application has been made under\nsection 118, the court decides not to make an order under that section in\nrelation to that cash; and\n(d) no objection to the making of an order under this subsection has been made\nby the person from whom that cash was seized,\nthe court may order the cash to which the application relates to be released to\nthe applicant or to the person from whom it was seized.\n122. Compensation\n122. (1) Where no forfeiture order is made in respect of any cash detained under this\nPart, the person to whom the cash belongs or from whom it was seized may\nmake an application to the summary court for compensation.\n(2) Where, for any period beginning with the first opportunity to place the cash in\nan interest-bearing account after the initial detention of the cash for 48 hours,\nthe cash was not held in an interest-bearing account while detained, the court\nmay order compensation to be paid to the applicant.\n(3) The amount of compensation to be paid under subsection (2) shall be the amount\nthe court thinks would have been earned in interest in the period in question if\nthe cash had been held in an interest-bearing account.\n(4) If the court is satisfied that, taking account of any interest to be paid under\nsection 116 or any amount to be paid under subsection (2), the applicant has\nsuffered loss as a result of the detention of the cash and that the circumstances\nare exceptional, the court may order compensation (or additional compensation)\nto be paid to that person.\n(5) The amount of compensation (or additional compensation) to be paid under\nsubsection (4) shall be the amount the court thinks reasonable, having regard to\nthe loss suffered and any other relevant circumstances.\n(6) The compensation shall be paid out of the revenues of the Islands.\n(7) If a forfeiture order is made in respect only of a part of any cash detained under\nthis Part, this section has effect in relation to the other part.\n\nProceeds of Crime Act (2025 Revision)\nSection 123\n\nc\nRevised as at 2nd January, 2025\nPage 91\n\nGENERAL\nRecoverable property\n123. Property obtained through unlawful conduct\n123. (1) Property obtained through unlawful conduct is recoverable property.\n(2) Where property obtained through unlawful conduct has been disposed of (since\nit was so obtained), it is recoverable property only if it is held by a person into\nwhose hands it may be followed.\n(3) Recoverable property obtained through unlawful conduct may be followed into\nthe hands of a person obtaining it on a disposal by \u2014\n(a)\nthe person who through the conduct obtained the property; or\n(b) a person into whose hands it may, by virtue of this subsection, be followed.\n124. Tracing property, etc.\n124. (1) Where property obtained through unlawful conduct (\u201cthe original property\u201d) is\nor has been recoverable, property which represents the original property is also\nrecoverable property.\n(2) Where a person enters into a transaction by which \u2014\n(a)\nthat person disposes of recoverable property, whether the original property\nor property which (by virtue of this Part) represents the original\nproperty; and\n(b) that person obtains other property in place of it,\nthe other property represents the original property.\n(3) If a person disposes of recoverable property which represents the original\nproperty, the property may be followed into the hands of the person who obtains\nit and such property continues to represent the original property.\n125. Mixing property\n125. (1) Where a person\u2019s recoverable property is mixed with other property, whether\nthat person\u2019s property or another person\u2019s property, the portion of the mixed\nproperty which is attributable to the recoverable property represents the property\nobtained through unlawful conduct.\n(2) Recoverable property is mixed with other property if, among other things, it\nis used \u2014\n(a)\nto increase funds held in an account;\n(b) in part payment for the acquisition of an asset;\n(c)\nfor the restoration or improvement of land; or\n\nSection 126\nProceeds of Crime Act (2025 Revision)\n\nPage 92\nRevised as at 2nd January, 2025\nc\n\n(d) by a person holding a leasehold interest in the property to acquire the\nfreehold.\n126. Recoverable property: accruing profits\n126. Where a person who has recoverable property obtains further property consisting of\nprofits accruing in respect of the recoverable property the further property shall be\nconsidered as representing the property obtained through unlawful conduct.\n127. General exceptions\n127. (1) Where \u2014\n(a)\na person disposes of recoverable property; and\n(b) the person who obtains it on the disposal does so in good faith, for value\nand without notice that it was recoverable property,\nthe property may not be followed into that person\u2019s hands and, accordingly, it\nceases to be recoverable.\n(2) Where recoverable property is vested, forfeited or otherwise disposed of in\npursuance of powers conferred by virtue of this Part, it ceases to be recoverable.\n(3) Where \u2014\n(a)\nin pursuance of a judgment in civil proceedings (whether in the Islands or\nelsewhere), the defendant makes a payment to the claimant or the claimant\notherwise obtains property from the defendant;\n(b) the claimant\u2019s claim is based on the defendant\u2019s unlawful conduct; and\n(c)\napart from this subsection, the sum received, or the property obtained, by\nthe claimant would be recoverable property,\nthe property ceases to be recoverable.\n(4) Where \u2014\n(a)\na payment is made to a person in pursuance of a compensation order under\nsection 33 of the Penal Code (2024 Revision); and\n(b) apart from this subsection, the sum received would be recoverable\nproperty,\nthe property ceases to be recoverable.\n(5) Where \u2014\n(a)\na payment is made to a person in pursuance of a restitution order under\nsection 23 of the Alternative Sentencing Act (2008 Revision)1 or a person\notherwise obtains any property in pursuance of such an order, and\n(b) apart from this subsection, the sum received, or the property obtained,\nwould be recoverable property,\nthe property ceases to be recoverable.\n\nProceeds of Crime Act (2025 Revision)\nSection 128\n\nc\nRevised as at 2nd January, 2025\nPage 93\n\n(6) Property is not recoverable while a restraint order is in force in relation to such\nproperty under \u2014\n(a)\nthis Act;\n(b) the prior Law; or\n(c)\nthe Misuse of Drugs Act (2017 Revision).\n(7) Property is not recoverable property if it has been taken into account in deciding\nthe amount of a person\u2019s benefit from criminal conduct for the purpose of\nmaking a confiscation order under \u2014\n(a)\nthis Act;\n(b) the prior Law; or\n(c)\nthe Misuse of Drugs Act (2017 Revision),\nand, in relation to an order mentioned in paragraph (b) and (c), the reference to\nthe amount of a person\u2019s benefit from criminal conduct shall be read as a\nreference to the corresponding amount under the enactment in question.\n(8) Where \u2014\n(a)\na person enters into a transaction to which section 124(2) applies; and\n(b) the disposal is one to which subsection (1) or (2) applies,\nthis section does not affect the recoverability (by virtue of section 124(2)) of\nany property obtained on the transaction in place of the property disposed of.\n128. Other exemptions\n128. (1) An order may provide that property is not recoverable or (as the case may be)\nassociated property if \u2014\n(a)\nit is prescribed property, or\n(b) it is disposed of in pursuance of a prescribed enactment or an enactment\nof a prescribed description.\n(2) An order may provide that if property is disposed of in pursuance of a prescribed\nenactment or an enactment of a prescribed description, it shall be treated for the\npurposes of section 103 as if it had been disposed of in pursuance of a recovery\norder.\n(3) An order under this section may be made so as to apply to property, or a disposal\nof property, only in prescribed circumstances; and the circumstances may relate\nto the property or disposal itself or to a person who holds or has held the property\nor to any other matter.\n(4) In this section, an order means an order made by the Cabinet and prescribed\nmeans prescribed by the order.\n\nSection 129\nProceeds of Crime Act (2025 Revision)\n\nPage 94\nRevised as at 2nd January, 2025\nc\n\n129. Granting interests\n129. (1) Where a person grants an interest in that person\u2019s recoverable property, the\nquestion whether the interest is also recoverable is to be determined in the same\nmanner as it is on any other disposal of recoverable property.\n(2) Pursuant to subsection (1), on a person\u2019s granting an interest in the property\n(\u201cthe property in question\u201d) \u2014\n(a)\nwhere the property in question is property obtained through unlawful\nconduct, the interest is also to be treated as obtained through that conduct;\nand\n(b) where the property in question represents in the person\u2019s hands property\nobtained through unlawful conduct, the interest is also to be treated as\nrepresenting in that person\u2019s hands the property so obtained.\nInsolvency\n130. Insolvency\n130. (1) Proceedings for a recovery order may not be taken or continued in respect of\nproperty to which subsection (3) applies unless the appropriate court gives leave\nand the proceedings are taken or (as the case may be) continued in accordance\nwith any terms imposed by that court.\n(2) An application for an order for the further detention of any cash to which\nsubsection (3) applies may not be made under section 115 unless the appropriate\ncourt gives leave.\n(3) This subsection applies to recoverable property, or property associated with\nit, if \u2014\n(a)\nit is an asset of a company being wound up in pursuance of a resolution\nfor voluntary winding up;\n(b) it is an asset of a company and a voluntary arrangement has effect in\nrelation to the company;\n(c)\nan order relating to interim receivership or interim trusteeship has effect in\nrelation to the property;\n(d) it is an asset comprised in the estate of an individual who has been\nadjudged bankrupt or a person whose estate has been sequestrated; or\n(e)\nit is an asset of an individual and a voluntary arrangement has effect in\nrelation to that person.\n(4) An application under this section for leave to take proceedings for a recovery\norder may be made without notice to any person.\n(5) Subsection (4) does not affect any requirement for notice of an application to be\ngiven to any person acting as an insolvency practitioner or to the Official\nReceiver (whether or not acting as an insolvency practitioner).\n\nProceeds of Crime Act (2025 Revision)\nSection 131\n\nc\nRevised as at 2nd January, 2025\nPage 95\n\n(6) In this section \u2014\n(a)\nthe appropriate court means the court which, in relation to the resolution,\narrangement, order or trust deed mentioned in subsection (3), is the court\nfor the purposes of the applicable enactment; and\n(b) acting as an insolvency practitioner has the same meaning as in section\n186.\nInterpretation\n131. Obtaining and disposing of property\n131. (1) References in this Act to a person disposing of that person\u2019s property include a\nreference to that person\u2019s disposing of a part of it or to that person\u2019s granting an\ninterest in it, or to both; and references to the property disposed of are to any\nproperty obtained on the disposal.\n(2) A person who makes a payment to another shall be considered as making a\ndisposal of that person\u2019s property to the other, whatever form the payment takes.\n(3) Where a person\u2019s property passes to another under a will or intestacy or by\noperation of law, it shall be treated as disposed of by that person to the other.\n(4) A person shall only be considered as having obtained that person\u2019s property for\nvalue in a case where that person gave unexecuted consideration if the\nconsideration has become executed consideration.\n132. General interpretation\n132. (1) In this Part references to a person disposing of that person\u2019s property include a\nreference \u2014\n(a)\nto that person\u2019s disposing of a part of it; or\n(b) to that person\u2019s granting an interest in it,\nor to both; and references to the property disposed of are to any property\nobtained on the disposal.\n(2) A person who makes a payment to another shall be considered as making a\ndisposal of that person\u2019s property to the other, whatever form the payment takes.\n(3) Where a person\u2019s property passes to another under a will or intestacy or by\noperation of law, it shall be considered as disposed of by that person to the other.\n(4) A person is considered as having obtained that person\u2019s property for value in a\ncase where that person gave unexecuted consideration if the consideration has\nbecome executed consideration.\n(5) For the purpose of deciding whether or not property was recoverable at any time\n(including times before commencement), it is to be assumed that this Part was\nin force at that and any other relevant time.\n\nSection 133\nProceeds of Crime Act (2025 Revision)\n\nPage 96\nRevised as at 2nd January, 2025\nc\n\n(6) Any reference to a person\u2019s property (whether expressed as a reference to the\nproperty that person holds or otherwise) is to be construed as set out in the\nfollowing subsections.\n(7) In relation to land, it is a reference to any interest which that person holds in the\nland.\n(8) In relation to property other than land, it is a reference \u2014\n(a)\nto the property (if it belongs to that person); or\n(b) to any other interest which that person holds in the property.\n(9) References to the satisfaction of the right of the Director of Public Prosecutions\u2019\nright to recover property obtained through unlawful conduct are to be read in\naccordance with section 110.\n(10) In this Part \u2014\n(a)\n\u201cdealing\u201d with property includes disposing of it, taking possession of it or\nremoving it from the Islands;\n(b) \u201cright to recover\u201d shall be construed in accordance with the meaning of\nrecoverable property in this Act.\nPart 5 - Money Laundering and Other Criminal Conduct -\nOffences\n133. Concealing, etc\n133. (1) A person commits an offence if that person \u2014\n(a)\nconceals criminal property;\n(b) disguises criminal property;\n(c)\nconverts criminal property;\n(d) transfers criminal property; or\n(e)\nremoves criminal property from the Islands.\n(2) A person does not commit an offence under subsection (1) if \u2014\n(a)\nthat person makes a disclosure to the Financial Reporting Authority and\nhas the consent of the Financial Reporting Authority to commit the act, but\nthis does not apply to the person who committed or was a party to the act\nfrom which the property derives;\n(b) that person intended to make a disclosure to the Financial Reporting\nAuthority under paragraph (a) but had a reasonable excuse for not doing\nso; or\n\nProceeds of Crime Act (2025 Revision)\nSection 134\n\nc\nRevised as at 2nd January, 2025\nPage 97\n\n(c)\nthe act that person does is done in carrying out a function that person has\nrelating to the enforcement of any provision of this Act or of any other\nenactment relating to criminal conduct or benefit from criminal conduct.\n(3) Nor does that person commit an offence under subsection (1) if \u2014\n(a)\nthat person knows, or believes on reasonable grounds, that the relevant\ncriminal conduct occurred in a particular country or territory outside the\nIslands; and\n(b) the relevant criminal conduct \u2014\n(i)\nwas not, at the time it occurred, unlawful under the criminal law then\napplying in that country or territory; and\n(ii) is not of a description prescribed by an order made by the Attorney\nGeneral.\n(4) Nor does that person commit an offence if that person is a professional legal\nadviser and does not disclose information or other matter which came to that\nperson in privileged circumstances.\n(5) But subsection (4) does not apply to information or other matter which is\ncommunicated or given with the intention of furthering a criminal purpose.\n(6) In subsection (3) \u201crelevant criminal conduct\u201d is the conduct by reference to\nwhich the property concerned is criminal property.\n(7) Concealing or disguising criminal property includes concealing or disguising its\nnature, source, location, disposition, movement or ownership or any rights with\nrespect to it.\n134. Arrangements\n134. (1) A person commits an offence if that person enters into or becomes concerned in\nan arrangement which that person knows or suspects facilitates (by whatever\nmeans) the acquisition, retention, use or control of criminal property by or on\nbehalf of another person.\n(2) A person does not commit an offence under subsection (1) if \u2014\n(a)\nthat person makes a disclosure to the Financial Reporting Authority and\nhas the consent of the Financial Reporting Authority to commit the act, but\nthis does not apply to the person who committed or was a party to the act\nfrom which the property derives;\n(b) that person intended to make such a disclosure but had a reasonable excuse\nfor not doing so;\n(c)\nthat person is a professional legal adviser and does not disclose\ninformation or other matter which came to that person in privileged\ncircumstances; or\n\nSection 135\nProceeds of Crime Act (2025 Revision)\n\nPage 98\nRevised as at 2nd January, 2025\nc\n\n(d) the act that person does is done in carrying out a function that person has\nrelating to the enforcement of any provision of this Act or of any other\nenactment relating to a criminal conduct or benefit from a criminal\nconduct.\n(3) But subsection (2)(c) does not apply to information or other matter which is\ncommunicated or given with the intention of furthering a criminal purpose.\n(4) Nor does a person commit an offence under subsection (1) if \u2014\n(a)\nthat person knows, or believes on reasonable grounds, that the relevant\ncriminal conduct occurred in a particular country or territory outside the\nIslands; and\n(b) the relevant criminal conduct \u2014\n(i)\nwas not, at the time it occurred, unlawful under the criminal law then\napplying in that country or territory; and\n(ii) is not of a description prescribed by an order made by the Attorney\nGeneral.\n(5) In subsection (4) \u201cthe relevant criminal conduct\u201d is the criminal conduct by\nreference to which the property concerned is criminal property.\n135. Acquisition, use and possession\n135. (1) A person commits an offence if that person \u2014\n(a)\nacquires criminal property;\n(b) uses criminal property; or\n(c)\nhas possession of criminal property.\n(2) A person does not commit an offence under subsection (1) if \u2014\n(a)\nthat person makes a disclosure to the Financial Reporting Authority and\nhas the consent of the Financial Reporting Authority to commit the act, but\nthis does not apply to the person who committed or was a party to the act\nfrom which the property derives;\n(b) that person intended to make such a disclosure to the Financial Reporting\nAuthority but had a reasonable excuse for not doing so;\n(c)\nthat person is a professional legal adviser and does not disclose\ninformation or other matter which came to that person in privileged\ncircumstances;\n(d) that person acquired or used or had possession of the property for adequate\nconsideration; or\n(e)\nthe act that person does is done in carrying out a function that person has\nrelating to the enforcement of any provision of this Act or of any other\n\nProceeds of Crime Act (2025 Revision)\nSection 136\n\nc\nRevised as at 2nd January, 2025\nPage 99\n\nenactment relating to a criminal conduct or benefit from a criminal\nconduct.\n(3) For the purposes of this section \u2014\n(a)\na person acquires property for inadequate consideration if the value of the\nconsideration is significantly less than the value of the property;\n(b) a person uses or has possession of property for inadequate consideration if\nthe value of the consideration is significantly less than the value of the use\nor possession; and\n(c)\nthe provision by a person of goods or services which that person knows or\nsuspects may help another to carry out criminal conduct is not\nconsideration.\n(4) Nor does a person commit an offence under subsection (1) if \u2014\n(a)\nthat person knows, or believes on reasonable grounds, that the relevant\ncriminal conduct occurred in a particular country or territory outside the\nIslands; and\n(b) the relevant criminal conduct \u2014\n(i)\nwas not, at the time it occurred, unlawful under the criminal law then\napplying in that country or territory; and\n(ii) is not of a description prescribed by an order made by the Attorney\nGeneral.\n(5) Nor does that person commit an offence if that person is a professional legal\nadviser and does not disclose information or other matter which came to that\nperson in privileged circumstances.\n(6) But subsection (5) does not apply to information or other matter which is\ncommunicated or given with the intention of furthering a criminal purpose.\n(7) In subsection (4) \u201cthe relevant criminal conduct\u201d is the criminal conduct by\nreference to which the property concerned is criminal property.\n136. Failure to disclose\n136. (1) A person commits an offence if \u2014\n(a)\nthat person knows or suspects or has reasonable grounds for knowing or\nsuspecting that another person is engaged in criminal conduct;\n(b) the information or other matter on which that person\u2019s knowledge or\nsuspicion is based, or which gives reasonable grounds for such knowledge\nor suspicion, came to that person in the course of a business in the\nregulated sector or other trade, profession, business or employment;\n(c)\nthat person does not make the required disclosure to a nominated officer,\nor the Financial Reporting Authority, as soon as is practicable after the\n\nSection 136\nProceeds of Crime Act (2025 Revision)\n\nPage 100\nRevised as at 2nd January, 2025\nc\n\ninformation or other matter mentioned in paragraph (b) comes to that\nperson; and\n(d) the required disclosure is a disclosure of \u2014\n(i)\nthe identity of the person who may be involved in money laundering,\nif that person knows it;\n(ii) information or other matter in the form and manner prescribed by\nregulations to this Act or the prior Law;\n(iii) the whereabouts of the property with respect to which the criminal\nconduct is committed, so far as that person knows it; and\n(iv) the information or other matter mentioned in paragraph (b), or\nprescribed under section 201 for purposes of this section.\n(2) But that person does not commit an offence under this section if \u2014\n(a)\nthat person has a reasonable excuse for not making the required disclosure;\n(b) that person is a professional legal adviser or other relevant professional\nadviser and the information or other matter came to that person in\nprivileged circumstances; or\n(c)\nthat person does not know or suspect that another person is engaged in\nmoney laundering and that person has not been provided by that person\u2019s\nemployer with such training as is specified in guidelines issued by the\nMonetary Authority and published in the Gazette for the purposes of this\nsection.\n(3) Nor does a person commit an offence under this section if \u2014\n(a)\nthat person knows, or believes on reasonable grounds, that the criminal\nconduct is occurring in a particular country or territory outside the Islands;\nand\n(b) the criminal conduct \u2014\n(i)\nis not unlawful under the criminal law applying in that country or\nterritory; and\n(ii) is not of a description prescribed in an order made by the Attorney\nGeneral.\n(4) Subsection (2) applies to a person if \u2014\n(a)\nthat person is a trainee, paralegal, legal secretary or any other person\nwho is employed by, or is in partnership with, a professional legal adviser\nor a relevant professional adviser to provide the adviser with assistance or\nsupport;\n(b) the information or other matter mentioned in subsection (1)(a) and (b)\ncomes to the person in connection with the provision of such assistance or\nsupport; and\n\nProceeds of Crime Act (2025 Revision)\nSection 136\n\nc\nRevised as at 2nd January, 2025\nPage 101\n\n(c)\nthe information or other matter came to the adviser in privileged\ncircumstances.\n(5) In deciding whether a person committed an offence under this section the court\nshall consider whether the person followed any relevant guidance which was at\nthe time concerned \u2014\n(a)\nissued by the Monetary Authority or by any other public body or selfregulatory body to which the Cabinet has assigned the responsibility of\nmonitoring compliance with money laundering regulations under\nsection 4(9); and\n(b) published in a manner approved by the Cabinet as appropriate in its\nopinion to bring the guidance to the attention of persons likely to be\naffected by it.\n(6) A disclosure to a nominated officer is a disclosure which \u2014\n(a)\nis made to a person nominated by the alleged offender\u2019s employer to\nreceive disclosures under this section; and\n(b) is made in the course of the alleged offender\u2019s employment.\n(7) But a disclosure which satisfies paragraphs (a) and (b) of subsection (6) is not\nto be taken as a disclosure to a nominated officer if the person making the\ndisclosure \u2014\n(a)\nis a professional legal adviser or other relevant professional adviser;\n(b) makes it for the purpose of obtaining advice about making a disclosure\nunder this section; and\n(c)\ndoes not intend it to be a disclosure under this section.\n(8) Information or other matter comes to a professional legal adviser or other\nrelevant professional adviser in privileged circumstances if it is communicated\nor given to that person \u2014\n(a)\nby (or by a representative of) a client of that person in connection with the\ngiving by the adviser of legal advice to the client;\n(b) by (or by a representative of) a person seeking legal advice from the\nadviser; or\n(c)\nby a person in connection with legal proceedings or contemplated legal\nproceedings.\n(9) But subsection (8) does not apply to information or other matter which is\ncommunicated or given with the intention of furthering a criminal purpose.\n(10) Schedule 4 has effect for the purpose of determining a business in the regulated\nsector.\n\nSection 137\nProceeds of Crime Act (2025 Revision)\n\nPage 102\nRevised as at 2nd January, 2025\nc\n\n(11) A relevant professional adviser is an accountant, auditor or tax adviser who is a\nmember of a professional body which is established for accountants, auditors or\ntax advisers (as the case may be) and which makes provision for \u2014\n(a)\ntesting the competence of those seeking admission to membership of such\na body as a condition for such admission; and\n(b) imposing and maintaining professional and ethical standards for its\nmembers, as well as imposing sanctions for non-compliance with those\nstandards.\n137. Failure to disclose: nominated officers\n137. (1) A nominated officer commits an offence if \u2014\n(a)\nthat person knows or suspects or has reasonable grounds for knowing or\nsuspecting that another person is engaged in a criminal conduct;\n(b) the information or other matter on which that person\u2019s knowledge or\nsuspicion is based, or which gives reasonable grounds for such knowledge\nor suspicion, came to that person either in the course of business in the\nregulated sector or in consequence of a disclosure made under section 136;\n(c)\nthat person does not make the required disclosure to the Financial\nReporting Authority as soon as is practicable after the information or other\nmatter mentioned in paragraph (b) comes to that person; and\n(d) the required disclosure is a disclosure of \u2014\n(i)\nthe identity of the other person mentioned in paragraph (a) if that\nperson knows it;\n(ii) the whereabouts of the property with respect to which the criminal\nconduct was committed, so far as that person knows it; and\n(iii) the information or other matter mentioned in paragraph (b), or\nprescribed under section 201 for purposes of this section.\n(2) But that person does not commit an offence under this section if \u2014\n(a)\nthat person has a reasonable excuse for not making the required disclosure;\n(b) that person falls within the exception (relating to professional grounds) set\nout in section 136;\n(c)\nthat person has not been provided by that person\u2019s employer with such\ntraining as is specified by the Cabinet by order for the purposes of this\nsection.\n(3) Nor does a person commit an offence under this section if \u2014\n(a)\nthat person knows, or believes on reasonable grounds, that the criminal\nconduct is occurring in a particular country or territory outside the Islands,\nand\n(b) the criminal conduct \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 138\n\nc\nRevised as at 2nd January, 2025\nPage 103\n\n(i)\nis not unlawful under the criminal law applying in that country or\nterritory, and\n(ii) is not of a description prescribed in an order made by the Attorney\nGeneral.\n(4) In deciding whether a person committed an offence under this section the court\nshall consider whether that person followed any relevant guidance which was at\nthe material time \u2014\n(a)\nissued by the Monetary Authority or by any other public body or selfregulatory body to which the Cabinet has assigned the responsibility of\nmonitoring compliance with money laundering regulations under\nsection 4(9); and\n(b) published in a manner approved by the Monetary Authority or by any other\npublic body or self-regulatory body to which the Cabinet has assigned the\nresponsibility of monitoring compliance with anti-money laundering\nregulations under section 4(9) as appropriate in its opinion to bring the\nguidance to the attention of persons likely to be affected by it.\n(5) Repealed by section 8(c) of the Proceeds of Crime (Amendment) Law, 2017\n[Law 49 of 2017].\n138. Disclosure by the Financial Reporting Authority\n138. (1) The Financial Reporting Authority \u2014\n(a)\nshall, where it has cause to suspect that criminal conduct has been\ncommitted, disclose any information received under this Act to any law\nenforcement agency in the Islands;\n(b) may, where it has cause to suspect that criminal conduct has been\ncommitted, disclose any information received under this Act to \u2014\n(i) any competent authority;\n(ii) any Supervisory Authority within the Islands; and\n(iii) such other institutions or persons in the Islands as may bedesignated\nin writing by the Steering Group; and\n(b)\nmay, where it has cause to suspect that a criminal conduct has been\ncommitted disclose any information received under this Act to any\noverseas financial intelligence unit,\nin order to \u2014\n(i)\nreport the possible commission of an offence;\n(ii) initiate a criminal investigation respecting the matter disclosed;\n(iii) assist with any investigation or criminal proceedings respecting the\nmatter disclosed;\n(iv) facilitate the effective regulation of the financial services industry; or\n\nSection 139\nProceeds of Crime Act (2025 Revision)\n\nPage 104\nRevised as at 2nd January, 2025\nc\n\n(v) generally give effect to the purposes of this Act or any other law.\n(2) Repealed by section 4(b) of the Proceeds of Crime (Amendment) Law, 2018\n[Law 28 of 2018].\n139. Tipping off\n139. (1) A person commits an offence if \u2014\n(a)\nthe person knows or suspects that an activity in relation to which a\ndisclosure is required to be made under this Act is about to take place, is\ntaking place or has taken place (whether or not a disclosure has been or is\nlikely to be made in relation thereto); and\n(b) the person makes a disclosure which is likely to prejudice any investigation\nwhich might be conducted following the disclosure referred to in\nparagraph (a), (whether or not the investigation is conducted).\n(2) A person does not commit an offence under subsection (1) if \u2014\n(a)\nthe disclosure of the information was done in accordance with information\nsharing obligations under a financial group\u2019s group-wide programmes\nagainst money laundering and terrorist financing as may be prescribed\nunder section 145;\n(b) the disclosure is made in carrying out a function that person has relating to\nthe enforcement of any provision of this Act or of any other enactment\nrelating to a criminal conduct or benefit from a criminal conduct ; and\n(c)\nthe person is a professional legal adviser and the disclosure falls within\nsubsection (3).\n(3) A disclosure falls within this subsection if it is a disclosure \u2014\n(a)\nto (or to a representative of) a client of the professional legal adviser in\nconnection with the giving by the adviser of legal advice to the client; or\n(b) to any person in connection with legal proceedings or contemplated legal\nproceedings.\n(4) A disclosure does not fall within subsection (3) if it is made with the intention\nof furthering a criminal purpose.\n140. Whistleblowers\n140. No person may be subject to any legal, administrative or employment-related\nsanction, regardless of any breach of a legal or employment-related obligation, for\nreleasing information relating to a contravention of this Part.\n141. Penalties\n141. (1) A person who commits an offence under section 133, 134 or 135 is liable \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 142\n\nc\nRevised as at 2nd January, 2025\nPage 105\n\n(a)\non summary conviction, to a fine of five thousand dollars or imprisonment\nfor a term of two years, or to both; or\n(b) on conviction on indictment, to imprisonment for a term of fourteen years\nor to a fine, or to both.\n(2) A person who commits an offence under section 136, 137 or 139 is liable \u2014\n(a)\non summary conviction, to a fine of of five thousand dollars or\nimprisonment for a term of two years, or to both; or\n(b) on conviction on indictment, to imprisonment for a term of five years or\nto a fine, or to both.\n(3) A person who commits an offence created under section 143 is liable to the\npenalties that may be prescribed in an order made under that section.\n142. Vicarious criminal liability\n142. (1) Where an offence under this Part is proved to have been committed with the\nconsent or connivance of, or to be attributable to, any neglect on the part of, a\ndirector, manager, secretary or other similar officer of the body corporate or a\nperson who was purporting to act in any such capacity (however designated),\nthe person committing the offence, as well as the body corporate, shall have\ncommitted that offence and shall be liable to be proceeded against and punished\naccordingly.\n(2) Where the affairs of a body corporate are managed by the members,\nsubsection (1) shall apply in relation to the acts and defaults of a member in\nconnection with that person\u2019s functions of management as if that person were a\ndirector of a body corporate.\n(3) Where an offence under this Part is committed by a partnership, or by an\nunincorporated association other than a partnership, and that offence is proved\nto have been committed with the consent or connivance of, or is attributable to\nany neglect on the part of a partner in the partnership or a person concerned in\nthe management or control of the association, that person, as well as the\npartnership or association, shall have committed that offence and shall be liable\nto be proceeded against and punished accordingly.\n(4) This section applies to all entities in the regulated sector registered in the Islands\nand to entities that are not in the regulated sector (whether or not the nominated\nofficer is based in the Islands).\n143. Form and manner of disclosures\n143. The Cabinet may by Order prescribe the form and manner of disclosure under\nsections 136, 137 and 142 and may in that regard create offences and prescribe\npenalties not exceeding those specified in section 141.\n\nSection 144\nProceeds of Crime Act (2025 Revision)\n\nPage 106\nRevised as at 2nd January, 2025\nc\n\nInterpretation: money laundering\n144. Interpretation\n144. (1) This section applies for the purposes of this Part.\n(2) Criminal conduct is conduct which \u2014\n(a)\nconstitutes an offence in any part of the Islands; or\n(b) would constitute an offence in any part of the Islands if it occurred there.\n(3) Property is criminal property if \u2014\n(a)\nit constitutes a person\u2019s benefit from a criminal conduct or it represents\nsuch a benefit (in whole or part and whether directly or indirectly); and\n(b) the alleged offender knows or suspects that it constitutes or represents such\na benefit,\nand includes terrorist property.\n(4) It is immaterial who carried out the criminal conduct, who benefited from it and\nwhether the conduct occurred before or after the commencement of this Act.\n(5) A person benefits from criminal conduct if that person obtains property as a\nresult of or in connection with the conduct.\n(5A) It may be proved that property is criminal property \u2014\n(a) by showing that it derives from conduct of a specific kind or kinds, and\nthat conduct of that kind or those kinds is criminal conduct; or\n(b) by showing that the circumstances in which the property was handled are\nsuch as to give rise to the irresistible inference that it can only be criminal\nproperty.\n(6) If a person obtains a pecuniary advantage as a result of or in connection with\ncriminal conduct, that person shall be considered to obtain as a result of or in\nconnection with the criminal conduct a sum of money equal to the value of the\npecuniary advantage.\n(7) References to property or a pecuniary advantage obtained in connection with a\ncriminal conduct include references to property or a pecuniary advantage\nobtained in both that connection and some other.\n(8) If a person benefits from conduct that person\u2019s benefit is the property obtained\nas a result of or in connection with the act.\n(9) The following rules apply in relation to property \u2014\n(a)\nproperty is obtained by a person if that person obtains an interest in it;\n(b) references to an interest, in relation to land in the Islands, are to any legal\nestate or equitable interest or power;\n\nProceeds of Crime Act (2025 Revision)\nSection 145\n\nc\nRevised as at 2nd January, 2025\nPage 107\n\n(c)\nreferences to an interest, in relation to property other than land, include\nreferences to a right (including a right to possession).\n(10) Money laundering is an act which \u2014\n(a)\nconstitutes an offence under section 133, 134 or 135;\n(b) constitutes an attempt, conspiracy or incitement to commit an offence\nspecified in paragraph (a);\n(c)\nconstitutes aiding, abetting, counselling or procuring the commission of an\noffence specified in paragraph (a); or\n(d) would constitute an offence specified in paragraph (a), (b) or (c) if done in\nthe Islands.\n(11) For the purposes of a disclosure to a nominated officer \u2014\n(a)\nreferences to a person\u2019s employer include any body, association or\norganisation (including a voluntary organisation) in connection with\nwhose activities the person exercises a function (whether or not for gain or\nreward); and\n(b) references to employment shall be construed accordingly.\n145. Regulations\n145. (1) The Cabinet may, upon the recommendation of the Anti-Money Laundering\nSteering Group, the Monetary Authority and the Financial Reporting Authority,\nmake regulations prescribing measures to be taken to prevent the use of the\nfinancial system and any other facilities provided in or from within the Islands\nfor the purposes of criminal conduct including measures \u2014\n(a)\nto utilise systems and train employees to prevent money laundering;\n(b) to manage and mitigate any risks that may be involved in the course of\nbusiness;\n(c)\nto conduct the appropriate and adequate due diligence of a customer or a\nperson with whom business is conducted;\n(d) to ensure that proper and adequate records are kept;\n(e)\nthat may be required to be utilised in matters involving specific types of\ncustomers or activities which may include a politically exposed person or\nthe transfer of currency;\n(f)\nto maintain the prescribed obligations of a financial institution or a\ndesignated non-financial business or profession in the prevention of money\nlaundering;\n(fa) to establish a framework under which reporters of suspicion of criminal\nconduct may seek and obtain a defence to specified money laundering or\nterrorist financing offences in relation to those reported offences; and\n\nSection 146\nProceeds of Crime Act (2025 Revision)\n\nPage 108\nRevised as at 2nd January, 2025\nc\n\n(g) to ensure that proper and adequate reports are made to the relevant\nAuthority in the Islands regarding any suspicious activity related to money\nlaundering.\n(2) Regulations made under subsection (1) may \u2014\n(a)\nmake different provisions for different circumstances or cases and may\ncontain incidental, supplementary and transitional provisions;\n(b) provide that the contravention of any provision of those regulations\nconstitutes an offence and may prescribe penalties for any such offence \u2014\n(i)\non conviction on indictment, consisting of a fine and imprisonment\nfor two years; or\n(ii) on summary conviction, consisting of a fine of five hundred thousand\ndollars;\n(c)\nprescribe the manner in which an administrative penalty system with a\nmaximum penalty of two hundred and fifty thousand dollars may be\nimplemented; and\n(d) prescribe fees, subscriptions or other monies which may be payable by any\nperson who is supervised in accordance with this Act and the regulations.\nPart 6 - Investigations - Introduction\n146. Investigations\n146. (1) For the purposes of this Part \u2014\n(a)\na confiscation investigation is an investigation into \u2014\n(i)\nwhether a person has benefited from that person\u2019s criminal conduct;\nor\n(ii) the extent or whereabouts of that person\u2019s benefit from that person\u2019s\ncriminal conduct; and\n(b) a civil recovery investigation is an investigation into \u2014\n(i)\nwhether property is recoverable property or associated property;\n(ii) who holds the property; or\n(iii) its extent or whereabouts.\n(2) An investigation is not a civil recovery investigation if \u2014\n(a)\nproceedings for a recovery order have been started in respect of the\nproperty in question under section 80;\n(b) an interim receiving order applies to the property in question under\nsection 87; or\n(c)\nthe property in question is detained under sections 114 and 115.\n\nProceeds of Crime Act (2025 Revision)\nSection 147\n\nc\nRevised as at 2nd January, 2025\nPage 109\n\n(3) For the purposes of this Part a money laundering investigation is an\ninvestigation into whether a person has committed a money laundering offence.\n147. Offences of prejudicing investigation\n147. (1) This section applies if a person knows or suspects that an appropriate officer is\nacting (or proposing to act) in connection with a confiscation investigation, civil\nrecovery investigation or money laundering investigation which is being or is\nabout to be conducted.\n(2) A person commits an offence if \u2014\n(a)\nthe person makes a disclosure which is likely to prejudice the\ninvestigation; or\n(b) the person falsifies, conceals, destroys or otherwise disposes of, or causes\nor permits the falsification, concealment, destruction or disposal of,\ndocuments which are relevant to the investigation.\n(3) A person does not commit an offence under subsection (2)(a) where \u2014\n(a)\nthe person does not know or suspect that the disclosure is likely to\nprejudice the investigation;\n(b) the disclosure is made in the exercise of a function under this Act or any\nother enactment relating to money laundering or benefit from money\nlaundering or in compliance with a requirement imposed under or by virtue\nof this Act; or\n(c)\nthe person is a professional legal adviser and the disclosure falls within\nsubsection (4).\n(4) A disclosure falls within this subsection if it is a disclosure \u2014\n(a)\nto (or to a representative of) a client of the professional legal adviser in\nconnection with the giving by the adviser of legal advice to the client; or\n(b) to any person in connection with legal proceedings or contemplated legal\nproceedings.\n(5) A disclosure does not fall within subsection (4) if it is made with the intention\nof furthering a criminal purpose.\n(6) A person does not commit an offence under subsection (2)(b) where \u2014\n(a)\nthe person does not know or suspect that the documents are relevant to the\ninvestigation; or\n(b) the person does not intend to conceal any facts disclosed by the documents\nfrom any appropriate officer or proper person carrying out the\ninvestigation.\n(7) A person who commits an offence under subsection (2) is liable \u2014\n(a)\non summary conviction, to imprisonment for a term of six months or to a\nfine of four thousand dollars, or to both; or\n\nSection 148\nProceeds of Crime Act (2025 Revision)\n\nPage 110\nRevised as at 2nd January, 2025\nc\n\n(b) on conviction on indictment, to imprisonment for a term of five years or\nto a fine, or to both.\nJudges and courts\n148. Judges\n148. In relation to an application for the purposes of \u2014\n(a)\na confiscation investigation;\n(b) an investigation relating to money laundering; or\n(c)\na civil recovery investigation,\nreference to the court is to the Grand Court and to a judge is to a judge of the\nGrand Court.\nProduction orders\n149. Production orders\n149. (1) A judge may, on an application made to that judge by a constable, make a\nproduction order if that judge is satisfied that each of the requirements for the\nmaking of the order is fulfilled.\n(2) A \u201cproduction order\u201d is an order either \u2014\n(a)\nrequiring the person whom the application for the order specifies as\nappearing to be in possession or control of material to produce the material\nto an appropriate officer for that person to take away; or\n(b) requiring that person to give an appropriate officer access to the material,\nwithin the period stated in the order.\n(3) The application for a production order shall state that \u2014\n(a)\na person specified in the application is subject to a confiscation\ninvestigation or a money laundering investigation; or\n(b) property specified in the application is subject to a civil recovery\ninvestigation; and\n(c)\nthe order is sought for the purposes of the investigation; and\n(d) the order is sought in relation to material, or material of a description,\nspecified in the application; and\n(e)\na person specified in the application appears to be in possession or control\nof the material.\n(4) The period stated in a production order shall be a period of seven days beginning\nwith the day on which the order is made, unless it appears to the judge by whom\nthe order is made that a longer or shorter period would be appropriate in the\nparticular circumstances.\n\nProceeds of Crime Act (2025 Revision)\nSection 150\n\nc\nRevised as at 2nd January, 2025\nPage 111\n\n(5) Where a judge makes a production order under this section, the order need not\nbe served on the person who is under investigation.\n150. Requirements for making of production order\n150. A judge, in order to grant a production order, shall be satisfied that \u2014\n(a)\nthere are reasonable grounds for suspecting that \u2014\n(i)\nin the case of a confiscation investigation, the person whom the\napplication for the order specifies as being subject to the\ninvestigation has benefited from that person\u2019s criminal conduct;\n(ii) in the case of a civil recovery investigation, the property which the\napplication for the order specifies as being subject to the\ninvestigation is recoverable property or associated property; and\n(iii) in the case of a money laundering investigation, the person whom the\napplication for the order specifies as being subject to the\ninvestigation has committed a money laundering offence;\n(b) there are reasonable grounds for believing that the person whom the\napplication specifies as appearing to be in possession or control of the\nmaterial so specified is in possession or control of it;\n(c)\nthere are reasonable grounds for believing that the material is likely to be\nof substantial value (whether or not by itself) to the investigation for the\npurposes of which the order is sought; and\n(d) there are reasonable grounds for believing that it is in the public interest\nfor the material to be produced or for access to it to be given, having regard\nto \u2014\n(i)\nthe benefit likely to accrue to the investigation if the material is\nobtained; and\n(ii) the circumstances under which the person whom the application\nspecifies as appearing to be in possession or control of the material\nholds it.\n151. Order to grant entry\n151. (1) Where a judge makes a production order requiring a person to give an\nappropriate officer access to material on any premises the judge may, on an\napplication made to that judge by an appropriate officer and specifying the\npremises, make an order to grant entry in relation to the premises.\n(2) An order to grant entry is an order requiring any person who appears to an\nappropriate officer to be entitled to grant entry to the premises to allow that\nappropriate officer to enter the premises to obtain access to the material.\n\nSection 152\nProceeds of Crime Act (2025 Revision)\n\nPage 112\nRevised as at 2nd January, 2025\nc\n\n152. Further provisions\n152. (1) A production order shall \u2014\n(a)\nnot require a person to produce, or give access to, privileged material;\n(b) not require a person to produce, or give access to, excluded material; and\n(c)\nhave effect in spite of any restriction on the disclosure of information\nhowever imposed.\n(2) Privileged material is any material which the person would be entitled to refuse\nto produce on grounds of legal professional privilege in proceedings in the\nGrand Court.\n(3) An appropriate officer may take copies of any material which is produced, or to\nwhich access is given, in compliance with a production order and such material\nmay be retained for so long as it is necessary to retain it (in its original form) in\nconnection with the investigation for the purposes of which the order was made.\n(4) Notwithstanding subsection (3), where an appropriate officer has reasonable\ngrounds for believing that \u2014\n(a)\nthe material may need to be produced for the purposes of any legal\nproceedings; and\n(b) it might otherwise be unavailable for those purposes,\nit may be retained until the proceedings are concluded.\n153. Computer information\n153. (1) This section applies if any of the material specified in an application for a\nproduction order consists of information contained in a computer.\n(2) Where a production order is an order \u2014\n(a)\nrequiring a person to produce the material to an appropriate officer for that\nappropriate officer to take away, it has effect as an order to produce the\nmaterial in a form in which it can be taken away by that appropriate officer\nand in which it is visible and legible; and\n(b) requiring a person to give an appropriate officer access to the material, it\nhas effect as an order to give that appropriate officer access to the material\nin a form in which it is visible and legible.\n154. Government entities\n154. (1) A production order may be made in relation to material in the possession or\ncontrol of a government entity.\n(2) An order made in accordance with subsection (1) may require any officer of the\nentity (whether named in the order or not) who may for the time being be in\npossession or control of the material to comply with it and such order shall be\nserved as if the proceedings were civil proceedings against the entity.\n\nProceeds of Crime Act (2025 Revision)\nSection 155\n\nc\nRevised as at 2nd January, 2025\nPage 113\n\n(3) Where an order contains such a requirement \u2014\n(a)\nthe person on whom it is served shall take all reasonable steps to bring it\nto the attention of the officer concerned; and\n(b) any other officer of the entity who is in receipt of the order shall also take\nall reasonable steps to bring it to the attention of the officer concerned.\n(4) Where the order is not brought to the attention of the officer concerned within\nthe period stated in the order (in pursuance of section 149(4)) the person on\nwhom it is served shall report the reasons for the failure to a judge.\n(5) For the purposes of this Act \u201cgovernment entity\u201d includes a ministry, portfolio,\nstatutory authority and government company.\n155. Supplementary: production orders and orders to grant entry\n155. (1) An application for a production order or an order to grant entry may be made ex\nparte to a judge in chambers.\n(2) The Rules Committee of the Grand Court may make rules providing for the\npractice and procedure to be followed in connection with proceedings relating\nto production orders and orders to grant entry.\n(3) An application to discharge or vary a production order or an order to grant entry\nmay be made to the court by the person who applied for the order or any person\naffected by the order.\n(4) The court may discharge or vary a production order or an order to grant entry.\n(5) Where a constable or a customs officer applies for a production order or an order\nto grant entry, an application to discharge or vary the order need not be by the\nsame constable or customs officer.\n(6) References to a person who applied for a production order or an order to grant\nentry shall be construed accordingly.\nSearch and seizure warrants\n156. Search and seizure warrants\n156. (1) A judge may, on an application made to that judge by a constable, issue a search\nand seizure warrant if that judge is satisfied that either of the requirements for\nthe issuing of the warrant set out in subsection (3) is fulfilled.\n(2) A search and seizure warrant is a warrant authorising an appropriate person \u2014\n(a)\nto enter and search the premises specified in the application for the\nwarrant; and\n(b) to seize and retain any material found there which is likely to be of\nsubstantial value (whether or not by itself) to the investigation for the\npurposes of which the application is made.\n(3) An application for a search and seizure warrant shall state that \u2014\n\nSection 157\nProceeds of Crime Act (2025 Revision)\n\nPage 114\nRevised as at 2nd January, 2025\nc\n\n(a)\na person specified in the application is subject to a confiscation\ninvestigation or a money laundering investigation or the property specified\nin the application is subject to a civil recovery investigation; or\n(b) the warrant is sought for the purposes of the investigation and \u2014\n(i)\nthe warrant is sought in relation to the premises specified in the\napplication; and\n(ii) the warrant is sought in relation to material specified in the\napplication, or that there are reasonable grounds for believing that\nthere is material falling within section 157(2), (3) or (4) on the\npremises.\n(4) An appropriate person is a constable or a customs officer or a person employed\nin the Financial Reporting Authority for the purpose of receiving reports under\nthis Act.\n(5) The requirements for the issue of a search and seizure warrant are \u2014\n(a)\nthat a production order made in relation to material has not been complied\nwith and there are reasonable grounds for believing that the material is on\nthe premises specified in the application for the warrant; or\n(b) that section 157 is satisfied in relation to the warrant.\n157. Requirements where production order not available\n157. (1) Where there is no production order a court may for the reasons stated in\nsubsection (2) issue a search and seizure warrant if the conditions set out in\nsection 150 are satisfied.\n(2) The reasons are \u2014\n(a)\nthat it is not practicable to communicate with any person against whom the\nproduction order could be made;\n(b) that it is not practicable to communicate with any person who would be\nrequired to comply with an order to grant entry to the premises; or\n(c)\nthat the investigation might be seriously prejudiced unless an appropriate\nperson is able to secure immediate access to the material.\n(3) In the case of a confiscation investigation, material falls within this subsection\nif it cannot be identified at the time of the application but it \u2014\n(a)\nrelates to the person specified in the application, the question whether that\nperson has benefited from that person\u2019s criminal conduct or any question\nas to the extent or whereabouts of that person\u2019s benefit from that person\u2019s\ncriminal conduct; and\n(b) is likely to be of substantial value (whether or not by itself) to the\ninvestigation for the purposes of which the warrant is sought.\n\nProceeds of Crime Act (2025 Revision)\nSection 158\n\nc\nRevised as at 2nd January, 2025\nPage 115\n\n(4) In the case of a civil recovery investigation, material falls within this subsection\nif it cannot be identified at the time of the application but it \u2014\n(a)\nrelates to the property specified in the application or to \u2014\n(i)\nthe question whether it is recoverable property or associated\nproperty;\n(ii) the question as to who holds any such property;\n(iii) any question as to whether the person who appears to hold any such\nproperty holds other property which is recoverable property; or\n(iv) any question as to the extent or whereabouts of any property\nmentioned in this paragraph; and\n(b) is likely to be of substantial value (whether or not by itself) to the\ninvestigation for the purposes of which the warrant is sought.\n(5) In the case of a money laundering investigation, material falls within this\nsubsection if it cannot be identified at the time of the application but it \u2014\n(a)\nrelates to the person specified in the application or the question whether\nthat person has committed a money laundering offence; and\n(b) is likely to be of substantial value (whether or not by itself) to the\ninvestigation for the purposes of which the warrant is sought.\n(6) For the purposes of this section an appropriate person is a constable or a customs\nofficer or a person employed by the Financial Reporting Authority for the\npurpose of receiving reports under this Act.\n158. Further provisions: general\n158. (1) A search and seizure warrant does not confer the right to seize privileged or\nexcluded material.\n(2) Privileged material is any material which a person would be entitled to refuse to\nproduce on grounds of legal professional privilege in proceedings in the Grand\nCourt.\n159. Further provisions: civil recovery\n159. (1) An application for a search and seizure warrant sought for the purposes of civil\nrecovery investigations may be made ex parte to a judge in chambers and such\nwarrant may be issued subject to conditions.\n(2) A warrant \u2014\n(a)\nshall continue in force until the end of the period of one month starting\nwith the day on which it is issued; and\n(b) authorises the person it names to require any information which is held in\na computer and is accessible from the premises specified in the application\nfor the warrant, and which the named person believes relates to any matter\n\nSection 160\nProceeds of Crime Act (2025 Revision)\n\nPage 116\nRevised as at 2nd January, 2025\nc\n\nrelevant to the investigation, to be produced in a form in which it can be\ntaken away and in which it is visible and legible.\n(3) Where the Commissioner of Police gives written authority for a constable to\naccompany the person a warrant names when executing it and a warrant is issued\nthe authorised officers have the same powers under the warrant as the named\nperson.\n(4) A warrant may include provision authorising a person who is exercising powers\nunder it to do other things which are not specified in the warrant, and need to be\ndone in order to give effect to it.\n(5) Copies may be taken of any material seized under a warrant.\n(6) Material seized under a warrant may be retained in its original form for so long\nas it is necessary to retain it in connection with the investigation for the purposes\nof which the warrant was issued.\n(7) Notwithstanding subsection (6), if the Commissioner of Police has reasonable\ngrounds for believing that the material seized may have to be produced for the\npurposes of any legal proceedings, and the material might otherwise be\nunavailable for those purposes, it may be retained until the proceedings are\nconcluded.\nDisclosure orders\n160. Disclosure orders\n160. (1) A judge may, on an application made to that judge by the Director of Public\nProsecutions, make a disclosure order if that judge is satisfied that each of the\nrequirements set out in section 161 for the making of the order is fulfilled.\n(2) A disclosure order is an order authorising the Director of Public Prosecutions to\ngive to any person the Director of Public Prosecutions considers has relevant\ninformation notice in writing requiring that person to do, with respect to any\nmatter relevant to the investigation for the purposes of which the order is sought,\nany or all of the following \u2014\n(a)\nanswer questions, either at a time specified in the notice or at once, at a\nplace so specified;\n(b) provide information specified in the notice, by a time and in a manner so\nspecified; or\n(c)\nproduce documents, or documents of a description, specified in the notice,\neither at or by a time so specified or at once, and in a manner so specified.\n(3) An application for a disclosure order shall not be made in relation to a money\nlaundering investigation.\n(4) The application for a disclosure order shall state that \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 161\n\nc\nRevised as at 2nd January, 2025\nPage 117\n\n(a)\na person specified in the application is subject to a confiscation\ninvestigation and the order is sought for the purposes of the\ninvestigation; or\n(b) property specified in the application is subject to a civil recovery\ninvestigation and the order is sought for the purposes of the investigation.\n(5) \u201cRelevant information\u201d is information (whether or not contained in a\ndocument) which the Director of Public Prosecutions considers to be relevant to\nthe investigation.\n(6) A person is not bound to comply with a requirement imposed by a notice given\nunder a disclosure order unless evidence of authority to give the notice is\nproduced to that person.\n(7) Where a judge makes a disclosure order under this section, the order need not\nbe served on the person who is under investigation.\n161. Requirements for the making of disclosure order\n161. A court may make a disclosure order if \u2014\n(a)\nthere are reasonable grounds for suspecting that \u2014\n(i)\nin the case of a confiscation investigation, the person specified in the\napplication for the order has benefited from that person\u2019s criminal\nconduct; or\n(ii) in the case of a civil recovery investigation, the property specified in\nthe application for the order is recoverable property or associated\nproperty;\n(b) there are reasonable grounds for believing that information which may be\nprovided in compliance with a requirement imposed under the order is\nlikely to be of substantial value (whether or not by itself) to the\ninvestigation for the purposes of which the order is sought; and\n(c)\nthere are reasonable grounds for believing that it is in the public interest\nfor the information to be provided, having regard to the benefit likely to\naccrue to the investigation if the information is obtained.\n162. Offences: failure to comply with disclosure order\n162. (1) A person commits an offence if without reasonable excuse that person fails to\ncomply with a requirement imposed on that person under a disclosure order.\n(2) A person who commits an offence under subsection (1) is liable on summary\nconviction to a fine of four thousand dollars or imprisonment for a term of six\nmonths, or to both.\n(3) A person commits an offence if, in purported compliance with a requirement\nimposed on that person under a disclosure order, that person \u2014\n\nSection 163\nProceeds of Crime Act (2025 Revision)\n\nPage 118\nRevised as at 2nd January, 2025\nc\n\n(a)\nmakes a statement which that person knows to be false or misleading in a\nmaterial particular; or\n(b) recklessly makes a statement which is false or misleading in a material\nparticular.\n(4) A person who commits an offence under subsection (3) is liable \u2014\n(a)\non summary conviction to a fine of four thousand dollars or to\nimprisonment for a term of six months, or to both; or\n(b) on conviction on indictment, to imprisonment for a term of two years, to a\nfine, or to both.\n163. Statements: disclosure orders\n163. (1) A statement made by a person in response to a requirement imposed on that\nperson under a disclosure order may not be used in evidence against that person\nin criminal proceedings.\n(2) Subsection (1) does not apply \u2014\n(a)\nin the case of proceedings under Part 3;\n(b) on a prosecution for an offence under section 162(1) or (3);\n(c)\non a prosecution for an offence of perjury or making false statements; or\n(d) on a prosecution for some other offence where, in giving evidence, the\nperson makes a statement inconsistent with the statement mentioned in\nsubsection (1).\n(3) A statement may not be used by virtue of subsection (2)(d) against a person\nunless the evidence relating to it is adduced or a question relating to it is asked\nby that person or on that person\u2019s behalf in the proceedings arising out of the\nprosecution.\n164. Further provisions: disclosure orders\n164. (1) A disclosure order shall not confer the right to require a person to answer any\nprivileged question, provide any privileged information or produce any\nprivileged document, except that a legal practitioner may be required to provide\nthe name and address of a client of that legal practitioner.\n(2) A privileged question is a question which the person would be entitled to refuse\nto answer on grounds of legal professional privilege in proceedings in the Grand\nCourt.\n(3) Privileged information is any information which the person would be entitled to\nrefuse to provide on grounds of legal professional privilege in proceedings in\nthe Grand Court.\n\nProceeds of Crime Act (2025 Revision)\nSection 165\n\nc\nRevised as at 2nd January, 2025\nPage 119\n\n(4) A disclosure order shall not confer the right to require a person to produce\nexcluded material and has effect notwithstanding any restriction on the\ndisclosure of information however imposed.\n(5) A constable of or above the rank of Inspector may take copies of any documents\nproduced in compliance with a requirement to produce them which is imposed\nunder a disclosure order and documents so produced may be retained in their\noriginal form for so long as it is necessary to retain them in connection with the\ninvestigation for the purposes of which the order was made.\n(6) Notwithstanding subsection (5), where the Commissioner of Police has\nreasonable grounds for believing that the documents may have to be produced\nfor the purposes of any legal proceedings, and they might otherwise be\nunavailable for those purposes they may be retained until the proceedings are\nconcluded.\n(7) \u201cExcluded material\u201d means \u2014\n(a)\npersonal records which a person has acquired or created in the course of\nany trade, business, profession or other occupation or for the purposes of\nany paid or unpaid office and which that person holds in confidence;\n(b) human tissue or tissue fluid which has been taken for the purposes of\ndiagnosis or medical treatment and which a person holds in confidence; or\n(c)\njournalistic material which a person holds in confidence and which\nconsists of documents and of records other than documents.\n165. Supplementary: applications for disclosure orders\n165. (1) An application for a disclosure order may be made ex parte to a judge in\nchambers.\n(2) The Rules Committee may make rules of court providing for the practice and\nprocedure to be followed in proceedings relating to disclosure orders.\n(3) An application to discharge or vary a disclosure order may be made to the court\nby the Director of Public Prosecutions or any person affected by the order.\n(4) The court may discharge or vary a disclosure order.\n(5) Subsections (2) to (4) do not apply to orders made for the purposes of a civil\nrecovery investigation.\nCustomer information orders\n166. Customer information orders\n166. (1) A judge may, on an application made to that judge by an appropriate officer,\nmake a customer information order if that judge is satisfied that each of the\nrequirements set out in subsection (3) for the making of the order is fulfilled.\n\nSection 167\nProceeds of Crime Act (2025 Revision)\n\nPage 120\nRevised as at 2nd January, 2025\nc\n\n(2) A \u201ccustomer information order\u201d is an order that a financial institution covered\nby the application for the order shall, on being required to do so by notice in\nwriting given by an appropriate officer, provide any such customer information\nas it has relating to the person specified in the application.\n(3) The application for a customer information order shall state that \u2014\n(a)\na person specified in the application is subject to a confiscation\ninvestigation or a money laundering investigation; or\n(b) property specified in the application is subject to a civil recovery\ninvestigation and a person specified in the application appears to hold the\nproperty;\n(c)\nthe order is sought for the purposes of the investigation; and\n(d) the order is sought against the financial institution or financial institutions\nspecified in the application.\n(4) An application for a customer information order may specify \u2014\n(a)\nall financial institutions;\n(b) a particular description, or particular descriptions, of financial institutions;\nor\n(c)\na particular financial institution or particular financial institutions.\n(5) A financial institution which is required to provide information under a\ncustomer information order shall provide the information to an appropriate\nofficer in such manner, and at or by such time, as an appropriate officer requires.\n(6) Where a financial institution on which a requirement is imposed by a notice\ngiven under a customer information order requires the production of evidence\nof authority to give the notice, it is not bound to comply with the requirement\nunless evidence of the authority has been produced to it.\n(7) Where a judge makes a customer information order under this section, the order\nneed not be served on the person who is under investigation.\n(8) For purposes of clarification it is declared that nothing in this section limits any\npower under any Law to obtain information referred to in this section or its\nprovision on a voluntary basis.\n167. Meaning of customer information\n167. (1) \u201cCustomer information\u201d, in relation to a person and a financial institution, is\ninformation whether the person holds, or has held, an account or accounts at the\nfinancial institution whether solely or jointly with another and information as\nto \u2014\n(a)\nthe matters specified in subsection (2) if the person is an individual; and\n\nProceeds of Crime Act (2025 Revision)\nSection 167\n\nc\nRevised as at 2nd January, 2025\nPage 121\n\n(b) the matters specified in subsection (3) if the person is a company or limited\nliability partnership or a similar body incorporated or otherwise\nestablished outside the Islands.\n(2) The matters referred to in subsection (1) (a) are \u2014\n(a)\nthe account number or numbers;\n(b) the person\u2019s full name;\n(c)\nthe person\u2019s date of birth;\n(d) the person\u2019s most recent address and any previous addresses;\n(e)\nthe date or dates on which that person began to hold the account or\naccounts and, if that person has ceased to hold the account or any of the\naccounts, the date or dates on which that person did so;\n(f)\nsuch evidence of that person\u2019s identity as was obtained by the financial\ninstitution under or for the purposes of any legislation relating to proceeds\nof crime;\n(g) the full name, date of birth and most recent address, and any previous\naddresses, of any person who holds, or has held, an account at the financial\ninstitution jointly with that person; and\n(h) the account number or numbers of any other account or accounts held at\nthe financial institution to which that person is a signatory and details of\nthe person holding the other account or accounts.\n(3) The matters referred to in subsection (1)(b) are \u2014\n(a)\nthe account number or numbers;\n(b) the person\u2019s full name;\n(c)\na description of any business which the person carries on;\n(d) the country or territory in which the person is incorporated or otherwise\nestablished and any number assigned to it under section 26 of the\nCompanies Act (2025 Revision) or corresponding legislation of any\ncountry or territory outside the Islands;\n(e)\nthe person\u2019s registered office, and any previous registered offices, under\nthe Companies Act (2025 Revision) or anything similar under\ncorresponding legislation of any country or territory outside the Islands;\n(f)\nthe person\u2019s registered office, and any previous registered offices, under\nthe Partnership Act (2025 Revision) or anything similar under\ncorresponding legislation of any country or territory outside the Islands;\n(g) the date or dates on which the person began to hold the account or accounts\nand, if it has ceased to hold the account or any of the accounts, the date or\ndates on which it did so;\n\nSection 168\nProceeds of Crime Act (2025 Revision)\n\nPage 122\nRevised as at 2nd January, 2025\nc\n\n(h) such evidence of the person\u2019s identity as was obtained by the financial\ninstitution under or for the purposes of any legislation relating to the\nproceeds of crime; and\n(i)\nthe full name, date of birth and most recent address and any previous\naddresses of any person who is a signatory to the account or any of the\naccounts.\n(4) The Cabinet may by order provide for information of a description specified in\nthe order to be customer information or no longer to be customer information.\n(5) \u201cMoney laundering\u201d is an act which \u2014\n(a)\nconstitutes an offence under section 133, 134 or 135 of this Act or any\nother offence similar or connected to the offences referred to in this\nparagraph; or\n(b) would constitute an offence specified or a type referred to in paragraph (a)\nif done in the Islands.\n168. Requirements for making of customer information order\n168. A court may make a customer information order if it is satisfied that \u2014\n(a)\nin the case of a confiscation investigation, there are reasonable grounds for\nsuspecting that the person specified in the application for the order has\nbenefited from that person\u2019s criminal conduct;\n(b) in the case of a civil recovery investigation, there are reasonable grounds\nfor suspecting that \u2014\n(i)\nthe property specified in the application for the order is recoverable\nproperty or associated property; and\n(ii) the person specified in the application holds all or some of the\nproperty;\n(c)\nin the case of a money laundering investigation, there are reasonable\ngrounds for suspecting that the person specified in the application for the\norder has committed a money laundering offence;\n(d) in the case of any investigation, there are reasonable grounds for believing\nthat customer information which may be provided in compliance with the\norder is likely to be of substantial value (whether or not by itself) to the\ninvestigation for the purposes of which the order is sought; and\n(e)\nin the case of any investigation, there are reasonable grounds for believing\nthat it is in the public interest for the customer information to be provided,\nhaving regard to the benefit likely to accrue to the investigation if the\ninformation is obtained.\n\nProceeds of Crime Act (2025 Revision)\nSection 169\n\nc\nRevised as at 2nd January, 2025\nPage 123\n\n169. Offences: failure to comply with customer information order\n169. (1) A financial institution commits an offence if, without reasonable excuse, it fails\nto comply with a requirement imposed on it under a customer information order.\n(2) A financial institution which commits an offence under subsection (1) is liable\non summary conviction to a fine of ten thousand dollars.\n(3) A financial institution commits an offence if, in purported compliance with a\ncustomer information order, it makes a statement which it knows to be false or\nmisleading in a material particular.\n(4) A financial institution which commits an offence under subsection (3) is liable\non summary conviction, to a fine of fifteen thousand dollars or on conviction on\nindictment, to a fine.\n170. Statements: customer information orders\n170. (1) A statement made by a financial institution in response to a customer\ninformation order may not be used in evidence against it in criminal\nproceedings.\n(2) Subsection (1) does not apply \u2014\n(a)\nin the case of proceedings under Part 3;\n(b) on a prosecution for an offence under section 169(1) or (3); or\n(c)\non a prosecution for some other offence where, in giving evidence, the\nfinancial institution makes a statement inconsistent with the statement\nmentioned in subsection (1).\n(3) A statement may not be used by virtue of subsection (2)(c) against a financial\ninstitution unless evidence relating to it is adduced or a question relating to it is\nasked by or on behalf of the financial institution in the proceedings arising out\nof the prosecution.\n171. Disclosure of information\n171. A customer information order has effect notwithstanding any restriction on the\ndisclosure of information however imposed.\n172. Supplementary: applications for customer information orders\n172. (1) An application for a customer information order may be made ex parte to a judge\nin chambers.\n(2) The Rules Committee may make rules of court providing for the practice and\nprocedure to be followed in proceedings relating to customer information\norders.\n(3) An application to discharge or to vary a customer information order may be\nmade to the court by the person who applied for the order or any person affected\nby the order.\n\nSection 173\nProceeds of Crime Act (2025 Revision)\n\nPage 124\nRevised as at 2nd January, 2025\nc\n\n(4) Upon the hearing of an application the court may discharge or vary the order.\n(5) Where a constable or a customs officer applies for a customer information order,\nan application to discharge or vary the order does not have to be made by the\nsame officer, constable or customs officer; and references to a person who\napplied for a customer information order shall be construed accordingly.\n(6) A constable or a customs officer may not make an application for a customer\ninformation order or an application to vary such an order unless that person is a\nsenior appropriate officer or that person is authorised to do so by a senior\nappropriate officer.\nAccount monitoring orders\n173. Account monitoring orders\n173. (1) A judge may, on an application made to that judge by an appropriate officer,\nmake an account monitoring order if that judge is satisfied that each of the\nrequirements set out in subsection (3) for the making of the order is fulfilled.\n(2) An account monitoring order is an order that the financial institution specified\nin the application for the order shall, for the period stated in the order, provide\naccount information of the description specified in the order to an appropriate\nofficer in the manner, and at or by the time or times, stated in the order.\n(3) An application for an account monitoring order shall state that \u2014\n(a)\na person specified in the application is subject to a confiscation\ninvestigation or a money laundering investigation; or\n(b) property specified in the application is subject to a civil recovery\ninvestigation and a person specified in the application appears to hold the\nproperty; and\n(c)\nthe order is sought for the purposes of the investigation; and\n(d) the order is sought against the financial institution specified in the\napplication in relation to account information of the description so\nspecified.\n(4) Account information is information relating to an account or accounts held at\nthe financial institution specified in the application by the person so specified\nwhether held solely or jointly with another.\n(5) An application for an account monitoring order may specify information\nrelating to \u2014\n(a)\nall accounts held by the person specified in the application for the order at\nthe financial institution so specified;\n(b) a particular description, or particular descriptions, of accounts so held, or\n(c)\na particular account, or particular accounts, so held.\n\nProceeds of Crime Act (2025 Revision)\nSection 174\n\nc\nRevised as at 2nd January, 2025\nPage 125\n\n(6) The period stated in an account monitoring order shall not exceed the period of\nninety days beginning with the day on which the order is made.\n174. Requirements for making of account monitoring order\n174. A court may make an account monitoring order if it is satisfied that \u2014\n(a)\nin the case of a confiscation investigation, there are reasonable grounds for\nsuspecting that the person specified in the application for the order has\nbenefited from that person\u2019s criminal conduct;\n(b) in the case of a civil recovery investigation, there are reasonable grounds\nfor suspecting that \u2014\n(i)\nthe property specified in the application for the order is recoverable\nproperty or associated property; and\n(ii) the person specified in the application holds all or some of the\nproperty;\n(c)\nin the case of a money laundering investigation, there are reasonable\ngrounds for suspecting that the person specified in the application for the\norder has committed a money laundering offence;\n(d) in the case of any investigation, there are reasonable grounds for believing\nthat account information which may be provided in compliance with the\norder is likely to be of substantial value (whether or not by itself) to the\ninvestigation for the purposes of which the order is sought; or\n(e)\nin the case of any investigation, there are reasonable grounds for believing\nthat it is in the public interest for the account information to be provided,\nhaving regard to the benefit likely to accrue to the investigation if the\ninformation is obtained.\n175. Statements: account monitoring orders\n175. (1) A statement made by a financial institution in response to an account monitoring\norder may not be used in evidence against it in criminal proceedings.\n(2) Subsection (1) does not apply \u2014\n(a)\nin the case of proceedings under Part 3;\n(b) in the case of proceedings for contempt of court; or\n(c)\non a prosecution for an offence where, in giving evidence, the financial\ninstitution makes a statement inconsistent with the statement mentioned in\nsubsection (1).\n(3) A statement may not be used by virtue of subsection (2)(c) against a financial\ninstitution unless evidence relating to it is adduced or a question relating to it is\nasked by or on behalf of the financial institution in the proceedings arising out\nof the prosecution.\n\nSection 176\nProceeds of Crime Act (2025 Revision)\n\nPage 126\nRevised as at 2nd January, 2025\nc\n\n176. Applications\n176. An application for an account monitoring order may be made ex parte to a judge in\nchambers.\n177. Disclosure of information\n177. An account monitoring order has effect notwithstanding any restriction on the\ndisclosure of information however imposed.\n178. Supplementary: account monitoring orders\n178. (1) The Rules Committee may make rules of court providing for the practice and\nprocedure to be followed in connection with proceedings relating to account\nmonitoring orders.\n(2) An application to discharge or vary an account monitoring order may be made\nto the court by the person who applied for the order or any person affected by\nthe order.\n(3) The court may vary or discharge an account monitoring order.\n(4) Where a constable or a customs officer applies for an account monitoring order,\nan application to discharge or vary the order does not have to be made by the\nsame officer of the Financial Reporting Authority, constable or customs officer;\nand references to a person who applied for an account monitoring order shall be\nconstrued accordingly.\nEvidence overseas\n179. Evidence overseas\n179. (1) This section applies where there is an investigation touching a matter arising\nunder this Act.\n(2) A judge on the application of the Director of Public Prosecutions or a person\nsubject to the investigation may issue a letter of request if that judge thinks that\nthere is evidence in a country or territory outside the Islands of the commission\nof a criminal offence, criminal conduct or unlawful conduct and that such person\nhas benefited from that person\u2019s criminal conduct or there is evidence of the\nextent or whereabouts of that person\u2019s benefit from that person\u2019s criminal\noffence, criminal conduct or unlawful conduct.\n(3) A letter of request is a letter requesting assistance in obtaining outside the\nIslands such evidence as is specified in the letter for use in the investigation.\n(4) If the Governor believes it is appropriate to do so that Governor may forward a\nletter received under subsection (2) \u2014\n(a)\nto a court or tribunal which is specified in the letter and which exercises\njurisdiction in the place where the evidence is to be obtained, or\n\nProceeds of Crime Act (2025 Revision)\nSection 180\n\nc\nRevised as at 2nd January, 2025\nPage 127\n\n(b) to an authority recognised by the government of the country or territory\nconcerned as the appropriate authority for receiving letters of request,\nbut in a case of urgency the person issuing the letter of request may send it\ndirectly to the court or tribunal mentioned in paragraph (a).\n(5) Evidence obtained in pursuance of a letter of request shall not be used by any\nperson other than the Director of Public Prosecutions or a person subject to the\ninvestigation or for any purpose other than that for which it is obtained.\n(6) Subsection (5) does not apply if the authority mentioned in subsection (4)(b)\nconsents to the use.\n(7) For the purposes of this section, evidence includes documents and other articles.\n(8) The Rules Committee may make rules of court providing for the practice and\nprocedure to be followed in connection with proceedings relating to the issue of\nletters of request by a judge under this section.\nCode of practice\n180. Code of practice\n180. (1) The Cabinet shall, upon the recommendation of the Commissioner of Police and\nthe Director of Customs and Border Control, prepare a code of practice as to the\nexercise by the Director, officers of the Authority, constables and customs\nofficers of functions under this Part.\n(2) After preparing a draft of the code the Cabinet shall publish the draft and\nconsider any representations made to it about the draft; and it may thereafter\namend the draft accordingly.\n(3) The Cabinet shall bring the code into operation on such day as it may appoint\nby order.\n(4) A person specified in subsection (1) shall comply with a code of practice which\nis in operation under this section in the exercise of any function that person has\nunder this Part; and where such a person fails to comply with any provision of\nsuch a code of practice that person is not by reason only of that failure liable in\nany criminal or civil proceedings.\n(5) Notwithstanding subsection (4), the code of practice is admissible in evidence\nin criminal or civil proceedings and a court may take account of any failure to\ncomply with its provisions in determining any question in the proceedings.\n(6) The Cabinet may from time to time revise a code previously brought into\noperation under this section; and the preceding provisions of this section apply\nto a revised code as they apply to the code as first prepared.\n\nSection 181\nProceeds of Crime Act (2025 Revision)\n\nPage 128\nRevised as at 2nd January, 2025\nc\n\nInterpretation\n181. Money laundering offences\n181. For the purposes of confiscation or a money laundering investigation, each of the\nfollowing is an offence relating to money laundering \u2014\n(a)\nan attempt, conspiracy or incitement to commit an offence specified in\nsection 133, 134 or 135;\n(b) aiding, abetting, counselling or procuring the commission of an offence\nspecified in section 133, 134 or 135.\n182. Other interpretative provisions\n182. (1) In this Act, \u201cfinancial institution\u201d means a person carrying on a business in the\nregulated sector.\n(2) A person who ceases to carry on a business in the regulated sector (whether by\nvirtue of paragraph 2 of Schedule 5 or otherwise) shall continue to be treated as\na financial institution for the purposes of any requirement under a customer\ninformation order or an account monitoring order, to provide information which\nrelates to a time when the person was a financial institution.\n(3) References to a business in the regulated sector shall be construed in accordance\nwith Schedule 4.\n(4) References to notice in writing include references to notice given by electronic\nmeans.\nPart 7 - Insolvency, Etc.\n183. Bankruptcy of defendant, etc.\n183. (1) Where any order for bankruptcy is made against a person who holds realisable\nproperty \u2014\n(a)\nany property for the time being subject to a restraint order made before the\norder for bankruptcy; and\n(b) any proceeds of property realised by virtue of this Act for the time being\nin the hands of a receiver appointed under section 52,\nis excluded from the property of the bankrupt for the purposes of the Bankruptcy\nAct (1997 Revision).\n(2) Where any order for bankruptcy is made against a person, the powers conferred\non the Grand Court to make restraint orders or to apply the proceeds of\nrealisation and other sums or on a receiver by such order appointed shall not be\nexercised in relation to \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 184\n\nc\nRevised as at 2nd January, 2025\nPage 129\n\n(a)\nproperty for the time being comprised in the property of the bankrupt for\nthe purposes of the Bankruptcy Act (1997 Revision); or\n(b) property which is to be applied for the benefit of creditors of the bankrupt\nby virtue of a condition imposed under section 68 of that Act.\n(3) Nothing in the Bankruptcy Act (1997 Revision) shall be taken as restricting, or\nenabling the restriction of, the exercise of the powers conferred on a receiver or\non the Grand Court to make restraint orders or to apply the proceeds of\nrealisation and such other sums.\n(4) Subsection (2) does not affect the enforcement of a charging order under the\nprior Law \u2014\n(a)\nmade before the order for bankruptcy was made; or\n(b) on property which was subject to a restraint order when the order for\nbankruptcy was made.\n(5) Where, in the case of a debtor \u2014\n(a)\nthe Trustee in Bankruptcy constituted by section 12 of the Bankruptcy Act\n(1997 Revision) has been ordered to become the receiver or manager of\nthe property or business of the debtor; and\n(b) any property of the debtor is subject to a restraint order,\nthe powers conferred on the Trustee by virtue of that Act do not apply to\nproperty for the time being subject to the restraint order.\n(6) Where any order for bankruptcy is made against a person who has directly or\nindirectly made a gift caught by this Act, sections 104 to 109 of the Bankruptcy\nAct (1997 Revision) shall not apply \u2014\n(a)\nin respect of the making of the gift at any time when proceedings for an\noffence to which this Act applies have been instituted against that person\nand have not been concluded; or\n(b) when property of the person to whom the gift was made is subject to a\nrestraint order or charging order.\n184. Winding up of company holding realisable property\n184. (1) Where realisable property is held by a company and an order for the winding up\nof the company has been made or a resolution has been passed by the company\nfor the voluntary winding up, the functions of the liquidator (or any provisional\nliquidator) shall not be exercisable in relation to \u2014\n(a)\nproperty for the time being subject to a restraint order made before the\nrelevant time; and\n(b) any proceeds of property realised by virtue of this Act for the time being\nin the hands of a receiver appointed under section 52.\n\nSection 185\nProceeds of Crime Act (2025 Revision)\n\nPage 130\nRevised as at 2nd January, 2025\nc\n\n(2) Where, in the case of a company, such an order has been made or such a\nresolution has been passed, the powers conferred on the Grand Court under this\nAct to make restraint orders or to order the realisation of property on a receiver\nappointed by the order shall not be exercised in relation to any realisable\nproperty held by the company in relation to which the functions of the liquidator\nare exercisable \u2014\n(a)\nso as to inhibit that liquidator from exercising those functions for the\npurpose of distributing any property held by the company to the company\u2019s\ncreditors; or\n(b) so as to prevent the payment out of any property of any expenses\n(including the remuneration of the liquidator or any provisional liquidator)\nproperly incurred in the winding up in respect of the property.\n(3) Subsection (2) does not affect the enforcement of a charging order made under\nthe prior Law and made before the relevant time or on property which was\nsubject to a restraint order at the relevant time.\n(4) In this section \u201crelevant time\u201d means \u2014\n(a)\nwhere no order for the winding up of the company has been made, the time\nof the passing of the resolution for voluntary winding up;\n(b) where such an order has been made and, before the presentation of the\npetition for the winding up of the company by the court, such a resolution\nhad been passed by the company, the time of the passing of the resolution;\nand\n(c)\nin any other case where such an order has been made, the time of the\nmaking of the order.\n185. Property subject to interim order, restraint order or disposal dealt with by\ntrustee\n185. (1) Without prejudice to the generality of any provision of any other enactment,\nwhere \u2014\n(a)\na trustee in bankruptcy, seizes or disposes of any property in relation to\nwhich that trustee in bankruptcy\u2019s functions are not exercisable because it\nis subject to an interim order, a restraint order or a civil forfeiture order,\nand\n(b) at the time of the seizure or disposal that trustee in bankruptcy believes,\nand has reasonable grounds for believing, that that trustee in bankruptcy is\nentitled (whether in pursuance of an order of a court or otherwise) to seize\nor dispose of that property,\nthat trustee in bankruptcy shall not be liable to any person in respect of any loss\nor damage resulting from the seizure or disposal except in so far as the loss or\ndamage is caused by that trustee in bankruptcy\u2019s negligence in so acting, and\n\nProceeds of Crime Act (2025 Revision)\nSection 186\n\nc\nRevised as at 2nd January, 2025\nPage 131\n\nthat trustee in bankruptcy shall have a lien on the property, or the proceeds of\nits sale, for such of that trustee in bankruptcy\u2019s expenses as were incurred in\nconnection with the bankruptcy or other proceedings in relation to which the\nseizure or disposal purported to take place and for so much of that trustee in\nbankruptcy\u2019s remuneration as may reasonably be assigned for that trustee in\nbankruptcy\u2019s acting in connection with those proceedings.\n(2) Where the trustee appointed as aforesaid incurs expenses in respect of such\nproperty as is mentioned in subsection (1) (a) and in so doing does not know\nand has no reasonable grounds to believe that the property is for the time being\nsubject to an order under this Act, that trustee shall be entitled (whether or not\nthat trustee has seized or disposed of that property so as to have a lien) to\npayment of those expenses.\n186. Meaning of insolvency practitioner\n186. The expression \u201cperson acting as an insolvency practitioner\u201d includes the trustee\nin bankruptcy and the Official Receiver acting as receiver or manager of the property\nconcerned.\nPart 8 - Co-operation\n187. External requests and orders\n187. Schedule 5 shall apply to external confiscation orders and to any proceedings which\nhave been, or are to be, instituted and which may result in external confiscation orders\nbeing made in foreign countries.\n188. Registration of external confiscation orders\n188. (1) On an application made by the Director of Public Prosecutions on behalf of the\nGovernment of a foreign country, the Grand Court may, subject to\nsubsection (3), register an external confiscation order made there if \u2014\n(a)\nthe amount payable under the external confiscation order is at least thirty\nthousand dollars, except that the court may register an order where the\namount payable is less if the Director of Public Prosecutions certifies that\nit is in the public interest to register the order;\n(b) it is satisfied that, at the time of registration, the order is in force and not\nsubject to appeal;\n(c)\nit is satisfied, where the person against whom the order so made did not\nappear in the proceedings, that that person received notice of the\nproceedings in sufficient time to enable that person to defend them; and\n(d) it is of the opinion that enforcing the order in the Islands would not be\ncontrary to the interests of justice.\n\nSection 189\nProceeds of Crime Act (2025 Revision)\n\nPage 132\nRevised as at 2nd January, 2025\nc\n\n(2) In subsection (1) \u201cappeal\u201d includes \u2014\n(a)\nany proceedings by way of discharging or setting aside a judgment; and\n(b) an application for a new trial or stay of execution.\n(3) The Grand Court shall not register an external confiscation order made in a\nforeign country \u2014\n(a)\nwhere the Director of Public Prosecutions has issued a certificate to the\neffect that the application to register the order is contrary to the public\ninterest of the Islands; or\n(b) where the facts described in the statement made under paragraph (a) of\nsection 191 or in the affidavit made under paragraph 8 of Schedule 5 do\nnot amount to criminal conduct.\n(4) The Grand Court shall cancel the registration of an external confiscation order\nif it appears to the court that the order has been satisfied by payment of the\namount due under it, by the person against whom it was made serving\nimprisonment in default of payment or by any other means.\n189. Proof of orders and judgments of courts of a foreign country\n189. (1) For the purposes of external confiscation \u2014\n(a)\nany order made or judgment given by a court of a foreign country\npurporting to bear the seal of that court or to be signed by any person in\nthat person\u2019s capacity as a judge, magistrate or officer of the court, shall\nbe deemed without further proof to have been duly sealed or, as the case\nmay be, to have been signed by that person; and\n(b) a document, duly authenticated, which purports to be a copy of any order\nmade or judgment given by a court of a foreign country shall be deemed\nwithout further proof to be a true copy.\n(2) A document purporting to be a copy of any order made or judgment given by a\ncourt of a foreign country is duly authenticated for the purpose of paragraph (b)\nof subsection (1) if it purports to be certified by any person in that person\u2019s\ncapacity as a judge, magistrate or officer of the court in question or by or on\nbehalf of the appropriate authority of the foreign country.\n190. Evidence in relation to proceedings and orders in a foreign country\n190. (1) For the purposes of external confiscation, a certificate purporting to be issued\nby or on behalf of the appropriate authority of a foreign country stating \u2014\n(a)\nthat proceedings have been instituted and have not been concluded, or that\nproceedings are to be instituted, in that foreign country;\n(b) that an external confiscation order is in force and is not subject to appeal;\n\nProceeds of Crime Act (2025 Revision)\nSection 191\n\nc\nRevised as at 2nd January, 2025\nPage 133\n\n(c)\nthat all or a certain amount payable under an external confiscation order\nremains unpaid in the foreign country, or that other property recoverable\nunder an external confiscation order remains unrecovered there;\n(d) that any person has been notified of any proceedings in accordance with\nthe law of the foreign country; or\n(e)\nthat an order (however described) made by a court of the foreign country\nhas the purpose \u2014\n(i)\nof recovering property obtained as a result of or in connection with\nconduct to which this Act applies or the value of property so\nobtained; or\n(ii) of depriving a person of a pecuniary advantage so obtained,\nshall, in any proceedings in the Grand Court, be admissible as evidence of the\nfacts so stated.\n(2) In any such proceedings a statement contained in a document, duly\nauthenticated, which purports to have been received in evidence or to be a copy\nof a document so received, or to set out or summarise evidence given in\nproceedings in a court of a foreign country, shall be admissible as evidence of\nany fact stated therein.\n(3) A document is duly authenticated for the purposes of subsection (2) if it purports\nto be certified by any person in that person\u2019s capacity as a judge, magistrate or\nofficer of the court of the foreign country, or by or on behalf of the appropriate\nauthority of the foreign country, to have been received in evidence or to be a\ncopy of a document so received, or, as the case may be, to be the original\ndocument containing or summarising the evidence or a true copy of that\ndocument.\n(4) Nothing in this section shall prejudice the admission of any evidence, whether\ncontained in any document or otherwise, which is admissible apart from this\nsection.\n191. Representation of government of a foreign country\n191. A request for assistance sent to the Director of Public Prosecutions by the appropriate\nauthority of a foreign country shall \u2014\n(a)\nbe accompanied by a statement of the facts, either alleged or proved, in\nrespect of which proceedings have been, or are about to be, instituted\nwhich have resulted, or may result, in an external confiscation order being\nmade; and\n(b) unless the contrary is shown, be deemed to constitute the authority of the\ngovernment of that country for the Director of Public Prosecutions to act\non its behalf in any proceedings in the Grand Court under this Act.\n\nSection 192\nProceeds of Crime Act (2025 Revision)\n\nPage 134\nRevised as at 2nd January, 2025\nc\n\n192. Satisfaction of confiscation order in a foreign country\n192. (1) Where \u2014\n(a)\na confiscation order has been made under this Act;\n(b) a request has been sent by the Director of Public Prosecutions to the\nappropriate authority of a foreign country for assistance in enforcing that\norder; and\n(c)\nin execution of that request, property is recovered in that country,\nthe amount payable under the confiscation order shall be treated as reduced by\nthe value of the property so recovered.\n(2) For the purposes of subsection (1), and without prejudice to the admissibility of\nany evidence which may be admissible apart from this subsection, a certificate\npurporting to be issued by or on behalf of the appropriate authority of a foreign\ncountry stating that property has been recovered there in execution of a request\nby the Director of Public Prosecutions, stating the value of the property so\nrecovered and the date on which it was recovered shall, in any proceedings in a\ncourt in the Islands, be admissible as evidence of the facts so stated.\n193. Currency conversion\n193. (1) Where the value of property recovered as described in section 192(1) is\nexpressed in a currency other than that of the Islands, the extent to which the\namount payable under the confiscation order is to be reduced under that\nparagraph shall be calculated on the basis of the exchange rate prevailing on the\ndate on which the property was recovered in the foreign country concerned.\n(2) Where an amount of money payable or remaining to be paid under an external\nconfiscation order registered in the Grand Court under Part 8 is expressed in a\ncurrency other than that of the Islands, for the purpose of any action taken in\nrelation to that order under this Act as applied by this Act the amount shall be\nconverted into the currency of the Islands on the basis of the exchange rate\nprevailing on the date of the registration of the order.\n(3) For the purposes of this section, a written certificate purporting to be signed by\nany person acting in that person\u2019s capacity as an officer of any bank holding a\ncurrent valid class \u201cA\u201d licence, within the meaning of the Banks and Trust\nCompanies Act (2025 Revision), and stating the exchange rate prevailing on a\nspecified date shall be admissible as evidence of the facts so stated.\n194. Rules of court\n194. The Rules Committee shall make rules of court for the purpose of external\nconfiscation orders.\n\nProceeds of Crime Act (2025 Revision)\nSection 195\n\nc\nRevised as at 2nd January, 2025\nPage 135\n\n195. Interpretation\n195. (1) A request, when used in relation to an external confiscation order or the seeking\nof it is a request by an overseas authority to prohibit dealing with relevant\nproperty which is identified in the request.\n(2) An external confiscation order is an order which \u2014\n(a)\nis made by an overseas court where property is found or believed to have\nbeen obtained as a result of or in connection with, and\n(b) is for the recovery of specified property or a specified sum of money.\n(3) An external investigation is an investigation by an overseas authority into \u2014\n(a)\nwhether property has been obtained as a result of or in connection with\ncriminal conduct; or\n(b) whether a money laundering offence has been committed.\n(4) Property is relevant property if there are reasonable grounds to believe that it\nmay be needed to satisfy an external order which has been or which may\nbe made.\n(5) An overseas court is a court of a country or territory outside the Islands.\n(6) An overseas authority is an authority which has responsibility in a country or\nterritory outside the Islands \u2014\n(a)\nfor making a request to an authority in another country or territory\n(including the Islands) to prohibit dealing with relevant property;\n(b) for carrying out an investigation into whether property has been obtained\nas a result of or in connection with criminal conduct; and\n(c)\nfor carrying out an investigation into whether a money laundering offence\nhas been committed.\nPart 9 - Miscellaneous and General\n196. Extradition where Schedule 1 to the Extradition Act 2003 applies\n196. The offences to which the Extradition Act (Overseas Territories) Order 2016 (UKSI\n2016\/990) and any other Order in Council made under sections 177, 178 and 224(2)\nof the Extradition Act 2003 of the United Kingdom (Cap 41) can apply shall\ninclude \u2014\n(a)\noffences under this Act;\n(b) any conspiracy to commit such an offence; and\n(c)\nany attempt to commit an offence under this Act.\n\nSection 197\nProceeds of Crime Act (2025 Revision)\n\nPage 136\nRevised as at 2nd January, 2025\nc\n\n197. No third party claims on confiscated or forfeited property\n197. Where property is lawfully confiscated or forfeited under this Act and all proceedings\nor appeal processes have been exhausted or are time-barred, no third party shall be\nentitled to make a claim to that property and no such claim shall be entertained by a\ncourt of law or any other person or authority.\n198. Costs\n198. Notwithstanding any other Law or rule of court, costs shall not be awarded against\nthe Director of Public Prosecutions \u2014\n(a)\nwhere, under this Act or any other Law \u2014\n(i)\nthe Director of Public Prosecutions has applied by written notice to\nthe Grand Court for the grant or enforcement of a confiscation order;\n(ii) the Director of Public Prosecutions has made an application for a\nrestraint order or related order;\n(iii) the Director of Public Prosecutions has made an application for an\norder under Part 4;\n(iv) the Director of Public Prosecutions, on behalf of the government of\na foreign country, has made an application for an order under this\nAct,\nand the Grand Court determines that it will not make the order concerned;\nor\n(b) where the Grand Court has varied or discharged an order made under this\nAct,\nunless it is shown to the satisfaction of the Grand Court that the Director of Public\nProsecutions\u2019 application in relation to the order concerned was made in bad faith or\nwas frivolous or vexatious.\n199. Companies and other business entities formed for criminal purposes\n199. Any person involved in the formation or operation of a company or other business\nentity (at whatever level) that is formed for a criminal purpose shall be deemed to fall\nwithin the provisions of this Act unless that person can show on a balance of\nprobabilities that that person did not know or cannot be expected to have known that\nthe company or business entity concerned was formed for a criminal purpose.\n\nProceeds of Crime Act (2025 Revision)\nSection 199A\n\nc\nRevised as at 2nd January, 2025\nPage 137\n\n199A. Power of Supervisory Authority to enter, search, etc.\n199A.(1) Where a Supervisory Authority reasonably suspects or is informed that a person\nwho is required to comply with regulation 55F of the Anti-Money Laundering\nRegulations (2025 Revision) has not complied, an appropriate officer may lay\nbefore a magistrate or a justice of the peace an information on oath setting out\nthe grounds for the suspicion and apply for the issue of a warrant to search the\npremises.\n(2) Where an application is made under subsection (1) for a warrant, the magistrate\nor justice of the peace may issue a warrant authorising the appropriate officer to\nenter upon the premises and search and inspect the premises with such\nassistance, including assistance from a police officer, and by such force as is\nnecessary and reasonable, and to \u2014\n(a) examine, inspect, make copies of, seize or remove any document or record\nthat the appropriate officer or police officer has reasonable grounds to\nbelieve is evidence of the contravention; and\n(b) seize any equipment or other property found on the premises in the course\nof the search that the appropriate officer or police officer has reasonable\ngrounds to believe is being used in the contravention of regulation 55F.\n200. Implied repeal\n200. Superseded by the Terrorism Act (2018 Revision).\n201. Regulations\n201. (1) The Cabinet may make regulations for giving effect to this Act and such\nregulations may \u2014\n(a)\nmake different provision for different purposes;\n(b) provide for the making of immediate and interim short-term restraint\norders not exceeding seventy-two hours;\n(c)\nprescribe that confiscation orders be applied for only by such person as the\nregulations may specify;\n(d) specify the need or otherwise for a prosecuting attorney where an\napplication is made for a production order, it being understood that in the\nabsence of such regulations, prosecuting attorney need not be present;\n(e)\nlimit, in exceptional circumstances, the recovery of costs of complying\nwith orders of the Grand Court, subject only to section 198; and\n(f)\nmake supplementary, incidental, saving or transitional provisions.\n(2) Without limiting the generality of subsection (1) the Cabinet may by order make\nsuch provision as it considers appropriate for or in connection with \u2014\n\nSection 202\nProceeds of Crime Act (2025 Revision)\n\nPage 138\nRevised as at 2nd January, 2025\nc\n\n(a)\nenabling confiscation orders under this Act but such order may not enable\na confiscation order to be made by any summary court in respect of an\namount exceeding one hundred thousand dollars;\n(b) the appointment of an Official Receiver of property that may be\nconfiscated or restrained under this Act, and such Official Receiver shall\nalso be Trustee for Civil Recovery for purposes of this Act, and, in the\nCabinet\u2019s discretion, may undertake this work exclusively or\nsimultaneously with any other position that person may hold in\ngovernment.\n(3) The Cabinet may, by Order, designate a jurisdiction as one which has serious\ndeficiencies in its compliance with recognised international standards for\ncombating money laundering and the financing of terrorism and, as a result of\nthat, require the application of counter-measures proportionate to the risk posed\nby that jurisdiction.\n(3A) The counter-measures under subsection (3) may include that dealings shall not\nbe conducted with that jurisdiction or that enhanced due diligence be applied\nto \u2014\n(a) transactions involving certain entities or class of entities; or\n(b) certain transactions or class of transactions.\n(3B) An Order under subsection (3) may also be made by the Cabinet on the\nrecommendation of either the Anti-Money Laundering Steering Group or the\nFinancial Action Task Force.\n(4) In making the recommendation under subsection (3B) the matters to be\nconsidered by the Steering Group, the form, duration and effect of the Order\nshall be prescribed by the Cabinet.\n(5) For the purposes of this Part, \u201cFinancial Action Task Force\u201d means the task\nforce established by the intergovernmental organisation, Group of Seven (G-7),\nto develop and promote national and international policies to combat money\nlaundering and terrorist financing.\n202. Repeals\n202. The following are repealed \u2014\n(a)\nthe Proceeds of Criminal Conduct Law (2007 Revision); and\n(b) sections 31 to 42 and 46 to 48 of the Misuse of Drugs Act (2000 Revision).\n203. Savings and transitional\n203. (1) For the purposes of this section \u201cthis Law\u201d means the Proceeds of Crime\nLaw, 2008 [Law 10 of 2008].\n(2) Notwithstanding section 202 \u2014\n\nProceeds of Crime Act (2025 Revision)\nSection 203\n\nc\nRevised as at 2nd January, 2025\nPage 139\n\n(a)\nproceedings in respect of a criminal offence or a suspected criminal\noffence or relating to any matter provided for under the Proceeds of\nCriminal Conduct Law (2007 Revision) or the Misuse of Drugs Law (2000\nRevision) which had commenced before the 30th September, 2008, the\ndate of the commencement of this Law, shall proceed and be determined\nas if the Proceeds of Criminal Conduct Law (2007 Revision) or the\nrepealed provisions of the Misuse of Drugs Law (2000 Revision) continue\nto have effect;\n(b) proceedings in respect of a criminal offence or a suspected criminal\noffence or relating to any matter provided for under the Criminal Justice\n(International Cooperation) Law (2004 Revision) which had commenced\nbefore the 30th September, 2008. the date of the commencement of this\nLaw, shall proceed and be determined as if the Proceeds of Criminal\nConduct Law (2007 Revision) continues to have effect, but this paragraph\nshall not be read so as to restrict the general operation of the Criminal\nJustice (International Co-operation) Law (2004 Revision) in relation to\nmatters not falling within the scope of this Law; and\n (c) the Misuse of Drugs (Drug Trafficking Offences) (Designated Countries)\nOrder, 1991 and any regulations made thereunder and in force at the\ncommencement of this Law shall, to the extent that they are not\ninconsistent with this Law, continue to be valid as if made under this Law;\n(d) regulations made under the Proceeds of Criminal Conduct Law (2007\nRevision) and which are in force at the 30th September, 2008, the date of\ncommencement of this Law, shall be deemed to have been made under this\nLaw so long as they are not inconsistent with this Law;\n(e)\nguidance notes made under regulations referred to in paragraph (d) which\nare in force at the 30th September, 2008, the date of commencement of\nthis Law shall be deemed to have been made under the regulations saved\nby that paragraph so long as the notes are not inconsistent with the\nregulations or this Law.\n(3) All proceedings pending at 2nd January, 2025, the date of the commencement\nof the Proceeds of Crime (Amendment) Act, 2023 (Act 12 of 2023), in respect of\noffences committed or alleged to have been committed against this Act and to\nwhich any of the provisions in sections 8, 9, 11, 12, 13 and 15 of the Proceeds\nof Crime (Amendment) Act, 2023 (Act 12 of 2023) apply, shall be continued and\ndealt with under this Act.\n\nSection 203\nProceeds of Crime Act (2025 Revision)\n\nPage 140\nRevised as at 2nd January, 2025\nc\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 1\n\nc\nRevised as at 2nd January, 2025\nPage 141\n\n SCHEDULE 1\nLifestyle Offences\n(section 68)\n1 - Drug trafficking\n1.\n(1) An offence under any of the following provisions of the Misuse of Drugs Act\n(2017 Revision) \u2014\n(a)\nsection 3(1)(a) to (k) and (m) and section 3(2);\n(b) section 4;\n(c)\nsection 11; and\n(d) section 19.\n(2) An offence under section 55 or 58 of the Customs and Border Control Act (2024\nRevision).\n2 - Money laundering\n2.\nAn offence under either of the following provisions of this Act \u2014\n(a)\nsection 133 (concealing, etc., criminal property);\n(b) section 134 (assisting another to retain criminal property).\n3 - Directing terrorism\n3.\nAn offence under section 14 of the Terrorism Act (2018 Revision).\n4 - People trafficking\n4.\nAn offence under section 105 of the the Customs and Border Control Act (2024\nRevision) (assisting illegal entry, etc).\n5 - Arms trafficking\n5.\n(1) An offence under section 55 or 56 of the Customs and Border Control Act (2024\nRevision) if it is committed in connection with a firearm or ammunition.\n(2) An offence under section 3(1), 8(3) or 8 (5) of the Firearms Act (2025 Revision)\n(importing or exporting or dealing unlawfully in firearms or ammunition).\n(3) In this paragraph \u201cfirearm\u201d has the same meaning as in section 2 of the\nFirearms Act (2025 Revision).\n\nSCHEDULE 1\nProceeds of Crime Act (2025 Revision)\n\nPage 142\nRevised as at 2nd January, 2025\nc\n\n6 - Counterfeiting and forgery\n6.\nAn offence under section 295, 301 and 303 of the Penal Code (2024 Revision).\n7 - Intellectual property\n7.\n(1) Any of the following offences of the copyright legislation relating to the\nIslands \u2014\n(a)\nmaking or dealing in an article which infringes copyright;\n(b) making or possessing an article designed or adapted for making a copy of\na copyright work;\n(c)\nmaking or dealing in an illicit recording; or\n(d) making or dealing in unauthorised decoders.\n(2) An offence under section 317 of the Penal Code (2024 Revision).\n8 - Pimps and brothels\n8.\nAn offence under any of the following provisions of the Penal Code (2024\nRevision) \u2014\n(a)\nsection 134;\n(b) section 136;\n(c)\nsection 137; and\n(d) section 138.\n9 - Blackmail\n9.\nAn offence under section 259 of the Penal Code (2024 Revision) (blackmail).\n9A - Gambling offences\n9A. An offence under any of the following provisions in the Gambling Act (2016\nRevision) \u2014\n(a)\nsection 4(a), (b), (c), (d) and (h);\n(b) section 10;\n(c)\nsection 20;\n(d) section 21; and\n(e)\nsection 22(1)(a) and (c).\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 1\n\nc\nRevised as at 2nd January, 2025\nPage 143\n\n10 - Inchoate offences\n10. (1) An offence of attempting, conspiring or inciting the commission of an offence\nspecified in this Schedule.\n(2) An offence of aiding, abetting, counselling or procuring the commission of such\nan offence.\n\nSCHEDULE 2\nProceeds of Crime Act (2025 Revision)\n\nPage 144\nRevised as at 2nd January, 2025\nc\n\nSCHEDULE 2\nPowers of Official Receiver During an Interim Receiving Order\n(section 88)\n1 - Seizure\n1.\nPower to seize property to which the order applies.\n2 - Information\n2.\n(1) Power to obtain information or to require a person to answer any question.\n(2) A requirement imposed in the exercise of the power has effect in spite of any\nrestriction on the disclosure of information (however imposed).\n(3) An answer given by a person in pursuance of such a requirement may not be\nused in evidence against that person in criminal proceedings.\n(4) Subparagraph (3) does not apply \u2014\n(a)\non a prosecution for an offence under section 101 of the Penal Code (2024\nRevision) (perjury); or\n(b) on a prosecution for some other offence where, in giving evidence, that\nperson makes a statement inconsistent with it.\n(5) An answer may not be used by virtue of subparagraph (4)(b) against a person\nunless \u2014\n(a)\nevidence relating to it is adduced; or\n(b) a question relating to it is asked,\nby that person or on that person\u2019s behalf in the proceedings arising out of the\nprosecution.\n3 - Entry, search, etc.\n3.\n(1) Power to \u2014\n(a)\nenter any premises in the Islands to which the interim order applies; and\n(b) take any of the following steps \u2014\n(i)\nto carry out a search for or inspection of anything described in the\norder;\n(ii) to make or obtain a copy, photograph or other record of anything so\ndescribed; or\n(iii) to remove anything which that person is required to take possession\nof in pursuance of the order or which may be required as evidence in\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 2\n\nc\nRevised as at 2nd January, 2025\nPage 145\n\nthe proceedings under Part 4 relating to the civil recovery orders in\nthe Grand Court.\n(2) The order may describe anything generally, whether by reference to a class or\notherwise.\n4 - Supplementary\n4.\n(1) An order making any provision under paragraph 2 or 3 shall make provision in\nrespect of legal professional privilege.\n(2) An order making any provision under paragraph 3 may require any person \u2014\n(a)\nto give the Official Receiver access to any premises which that Official\nReceiver may enter in pursuance of paragraph 3;\n(b) to give the Official Receiver any assistance that Official Receiver may\nrequire for taking the steps mentioned in that paragraph.\n5 - Management\n5.\n(1) Power to manage any property to which the order applies.\n(2) Managing property includes \u2014\n(a)\nselling or otherwise disposing of assets comprised in the property which\nare perishable or which ought to be disposed of before their value\ndiminishes;\n(b) where the property comprises assets of a trade or business, carrying on, or\narranging for another to carry on, the trade or business; and\n(c)\nincurring capital expenditure in respect of the property.\n\nSCHEDULE 3\nProceeds of Crime Act (2025 Revision)\n\nPage 146\nRevised as at 2nd January, 2025\nc\n\nSCHEDULE 3\nPowers of Trustee for Civil Recovery\n(section 97)\n1 - Sale\n1.\nPower to sell the property or any part of it or interest in it.\n2 - Expenditure\n2.\nPower to incur expenditure for the purpose of \u2014\n(a)\nacquiring any part of the property, or any interest in it, which is not vested\nin that person;\n(b) discharging any liabilities, or extinguishing any rights, to which the\nproperty is subject.\n3 - Management\n3.\n(1) Power to manage property.\n(2) Managing property includes doing anything mentioned in paragraph 5(2) of\nSchedule 2.\n4 - Legal proceedings\n4.\nPower to start, carry on or defend any legal proceedings in respect of the property.\n5 - Compromise\n5.\nPower to make any compromise or other arrangement in connection with any claim\nrelating to the property.\n6 - Supplementary\n6. (1)\nFor the purposes of, or in connection with, the exercise of any of that Trustee\nfor Civil Recovery\u2019s powers \u2014\n(a)\npower by that Trustee for Civil Recovery to do any of the following \u2014\n(i)\nholding property;\n(ii) entering into contracts;\n(iii) suing and being sued;\n(iv) employing agents;\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 3\n\nc\nRevised as at 2nd January, 2025\nPage 147\n\n(v) executing a power of attorney, deed or other instrument; and\n(b) power to do any other act which is necessary.\n\nSCHEDULE 4\nProceeds of Crime Act (2025 Revision)\n\nPage 148\nRevised as at 2nd January, 2025\nc\n\nSCHEDULE 4\nRegulated Sector\n(sections 136 and 181)\n1 - Business in the regulated sector\n1.\nFor the purposes of this Act \u201cregulated sector\u201d means that part of the business\ncommunity in the Islands which is regulated by any one or more of the Acts listed\nbelow in this paragraph or any person who carries on any one or more of the activities\nregulated thereby or any person who carries on such relevant financial business or\nmay be prescribed under paragraph 3 of this Schedule \u2014\n(a)\nBanks and Trust Companies Act (2025 Revision);\n(b) Building Societies Act (2020 Revision);\n(c)\nCompanies Management Act (2025 Revision);\n(d) Cooperative Societies Act (2020 Revision);\n(e)\nInsurance Act, 2010 [Law 32 of 2010];\n(f)\nMoney Services Act (2020 Revision);\n(g) Mutual Funds Act (2025 Revision);\n(h) Securities Investment Business Act (2020 Revision); and\n(i)\nthe activity of dealing in goods of any description by way of business\n(including dealing as an auctioneer) whenever a transaction involves\naccepting a total cash payment of fifteen thousand dollars of more; and\n(j)\nany other laws that may be prescribed by the Cabinet by regulations made\nunder section 46 of the Monetary Authority Act (2020 Revision).\n2.\nRepealed by section 9 of the Proceeds of Crime (Amendment) Law, 2016 [Law 20 of\n2016].\n3.\nThe Cabinet may by Order amend this Schedule.\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 5\n\nc\nRevised as at 2nd January, 2025\nPage 149\n\nSCHEDULE 5\nModifications to this Act When Applied to External Confiscation\nOrders and Related Proceedings\n(section 187)\n1 - Introductory\n1.\nThis Schedule shall apply to external confiscation orders registered under this Act\nand to any proceedings which have been or are to be instituted and which may result\nin such external confiscation orders being made and, to the extent that it is at variance\nwith this Act in relation to the administration and enforcement of external\nconfiscation orders and proceedings which may result in external confiscation orders,\nthe terms of this Schedule shall prevail.\n2 - General interpretation\n2.\nIn this Schedule \u2014\n(1) The expressions listed in the left-hand column below are respectively defined\nor (as the case may be) fall to be construed in accordance with the provisions of\nthis Schedule listed in the right-hand column in relation to those expressions.\nExpression\nRelevant Expression\nDealing with property\nparagraph 6(9)\nDefendant\nparagraph 3(1)(b)\nGift caught by this Schedule\nparagraph 3(4)\nConduct to which this Schedule\napplies\nparagraph 3(1)(a)\nRealisable property\nparagraph 3(2)\nRestraint order\nparagraph 6(1).\n(2) Proceedings are instituted in a particular country when \u2014\n(a)\nunder the law of the foreign country concerned, one of the steps specified\nin relation to that country in an order made under this Act has been taken\nthere in respect of alleged conduct by the defendant to which this Act\napplies; or\n(b) an application has been made to a court in a foreign country for a\nconfiscation order,\n\nSCHEDULE 5\nProceeds of Crime Act (2025 Revision)\n\nPage 150\nRevised as at 2nd January, 2025\nc\n\nand where the application of this paragraph would result in there being more\nthan one time for the institution of proceedings, they shall be taken to have been\ninstituted at the earliest of those times.\n(3) Proceedings are concluded \u2014\n(a)\nwhen (disregarding any power of a court to grant leave to appeal out of\ntime) there is no further possibility of an external confiscation order being\nmade in the proceedings; or\n(b) on the satisfaction of an external confiscation order made in the\nproceedings (whether by the recovery of all property liable to be\nrecovered, or the payment of any amount due, or otherwise).\n3 - Definition of principal terms used\n3.\n(1) In this Schedule \u2014\n(a)\nreferences to conduct to which this Schedule applies are references to\nconduct which constitutes an offence to which this Act applies or would\nconstitute such an offence if it had occurred in the Islands; and\n(b) a person against whom an external confiscation order has been made, or a\nperson against whom proceedings which may result in an external\nconfiscation order being made have been, or are to be, instituted in a court\nof a foreign country, is referred to as \u201cthe defendant\u201d.\n(2) In this Schedule \u201crealisable property\u201d, subject to subparagraph (3), means \u2014\n(a)\nin relation to an external confiscation order in respect of specified\nproperty, the property which is specified in the order; and\n(b) in any other case \u2014\n(i)\nany property held by the defendant; and\n(ii) any property held by a person to whom the defendant has directly or\nindirectly made a gift caught by this Act.\n(3) Property is not realisable property if an order under section 30 of the Misuse of\nDrugs Act (2017 Revision) is in force in respect of the property.\n(4) A gift (including a gift made before the 23rd December, 1996) is caught by this\nSchedule if \u2014\n(a)\nit was made by the defendant at any time after the conduct to which the\nexternal confiscation order relates; and\n(b) the court considers it appropriate in all the circumstances to take the gift\ninto account.\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 5\n\nc\nRevised as at 2nd January, 2025\nPage 151\n\n4 - Pecuniary advantage - equivalence\n4.\nWhere a person derives a pecuniary advantage as a result of or in connection with\nconduct to which this Schedule applies, that person is to be treated for the purposes\nof this Schedule as if that person had obtained, as a result of or in connection with the\nconduct, a sum of money equal to the value of the pecuniary advantage.\n5 - Cases in which restraint orders may be made\n5.\n(1) The powers conferred on the Grand Court by paragraph 6(1) are exercisable\nwhere \u2014\n(a)\nproceedings have been instituted against the defendant in a foreign\ncountry;\n(b) the proceedings have not been concluded; and\n(c)\neither an external confiscation order has been made in the proceedings or\nit appears to the Grand Court that there are reasonable grounds for thinking\nthat such an order may be made in them of at least the minimum amount.\n(2) Those powers are also exercisable where the Grand Court is satisfied that\nproceedings will be instituted against the defendant in a foreign country.\n(3) Where the court has made an order under paragraph 6(1) by virtue of\nsubparagraph (2) \u2014\n(a)\nthe Director of Public Prosecutions shall notify the court immediately if\nproceedings have not been instituted; and\n(b) the court shall discharge the order if the proposed proceedings are not\ninstituted.\n6 - Restraint orders\n6.\n(1) The Grand Court may, by order (referred to in this Schedule as a \u201crestraint\norder\u201d) prohibit any person from dealing with any realisable property, subject\nto such conditions and exceptions as may be specified in the order.\n(2) Without prejudice to subparagraph (1), a restraint order shall be subject to\nsection 45(2) to (7).\n(3) A restraint order may apply \u2014\n(a)\nwhere an application under subparagraph (4) relates to an external\nconfiscation order made in respect of specified property, to property which\nis specified in that order; and\n(b) in any other case \u2014\n(i)\nto all realisable property held by a specified person, whether the\nproperty is described in the restraint order or not; and\n\nSCHEDULE 5\nProceeds of Crime Act (2025 Revision)\n\nPage 152\nRevised as at 2nd January, 2025\nc\n\n(ii) to realisable property held by a specified person, being property\ntransferred to that person after the making of the restraint order.\n(4) A restraint order \u2014\n(a)\nmay be made only on an application by the Director of Public Prosecutions\non behalf of the government of a foreign country or, in a case where an\nexternal confiscation order has been registered under section 187, by a\nreceiver appointed under paragraph 9;\n(b) may be made on an ex parte application to a judge in chambers; and\n(c)\nnotwithstanding anything in Order 11 of the Grand Court Rules (2023\nRevision), may provide for service on, or the provision of notice to, persons\naffected by the order in such manner as the Grand Court may direct.\n(5) A restraint order \u2014\n(a)\nmay be discharged or varied in relation to any property; and\n(b) shall be discharged when the proceedings in relation to which the order\nwas made are concluded.\n(6) An application for the discharge or variation of a restraint order may be made\nby any person affected by it.\n(7) Where the Grand Court has made a restraint order, it may, at any time, appoint\na receiver \u2014\n(a)\nto take possession of any realisable property; and\n(b) in accordance with the court\u2019s directions, to manage or otherwise deal with\nany property in respect of which that person is appointed,\nsubject to such exceptions and conditions as may be specified by the court; and\nmay require any person having possession of property in respect of which a\nreceiver is appointed under this section to give possession of it to the receiver.\n(8) For the purposes of this paragraph, dealing with any property held by any person\nincludes \u2014\n(a)\nwhere a debt is owed to that person, making a payment to any person in\nreduction of the amount of the debt; and\n(b) removing the property from the Islands.\n(9) Where the Grand Court has made a restraint order, a constable may, for the\npurpose of preventing any realisable property being removed from the Islands,\nseize the property.\n(10) Property seized under subparagraph (9) shall be dealt with in accordance with\nthe court\u2019s directions.\n(11) In the case of a restraint order made in respect of land \u2014\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 5\n\nc\nRevised as at 2nd January, 2025\nPage 153\n\n(a)\nthe restraint order shall inhibit for a specified period of time or until the\noccurrence of a specified event, or generally until further order, the\nregistration of any dealing with any land, lease or charge; and\n(b) a copy of the restraint order under the seal of the court, with the particulars\nof the land, lease or charge thereby affected shall be sent to the Registrar\nof Lands who shall register it in the Land Register maintained under\nsection 9 of the Registered Land Act (2018 Revision) in respect of the land\nin question and no restraint order shall bind or affect the land, lease or\ncharge until it has been registered; and\n(c)\nso long as the restraint order remains registered no instrument which is\ninconsistent with it shall be registered.\n7 - Applications for restraint and orders\n7.\nAn application under paragraph 6(4) shall be accompanied by an affidavit, a\ndeclaration or any other written statement by the appropriate authority of the foreign\ncountry deposing to or specifying \u2014\n(a)\nwhere proceedings have been instituted, the conduct in which the\ndefendant is alleged to have engaged (exhibiting a copy of the indictment,\ninformation or charge), and the grounds for believing that the defendant\nengaged in that conduct;\n(b) where proceedings will be instituted, the conduct in which the defendant\nwill be alleged to have engaged, and the grounds for believing that the\ndefendant engaged in that conduct;\n(c)\nwhere an external confiscation order has been made, the amount payable\nunder the confiscation order;\n(d) where an external confiscation order has not been made \u2014\n(i)\nthe grounds for the belief that the defendant derived a benefit of a\nstated amount as a result of the conduct;\n(ii) the grounds for the belief that the amount that might be realised is at\nleast the stated amount;\n(iii) where the defendant proceedings have been instituted, the grounds\nfor believing that an external confiscation order may be made and the\namount likely to be payable under such a confiscation order; or\n(iv) where proceedings are to be instituted, the grounds for believing that\nan external confiscation order is likely to be made and the amount\nlikely to be payable under such a confiscation order;\n(e)\na description of the property in respect of which the order is sought;\n(f)\nthe grounds for the belief that the property is realisable property;\n\nSCHEDULE 5\nProceeds of Crime Act (2025 Revision)\n\nPage 154\nRevised as at 2nd January, 2025\nc\n\n(g) the name and address of the person who is believed to be in the possession\nof the property; and\n(h) the names and addresses of any parties who may have an interest in that\nproperty, and the nature of their interest.\n8 - Realisation of property\n8.\nWhere an external confiscation order has been registered in the Grand Court under\nsection 188, the Grand Court may, on the application of the Director of Public\nProsecutions, exercise the following powers \u2014\n(a)\nin respect of any sum of money payable under the external confiscation\norder, make a garnishee order as if the sum were due to the Crown in\npursuance of a judgment or order of the Grand Court, but any such order\nshall direct that the sum payable be paid to the Grand Court;\n(b) appoint a receiver in respect of realisable property;\n(c)\nempower a receiver appointed under subsubparagraph (b), under\nparagraph 6 in relation to any realisable property other than property for\nthe time being subject to a charge under paragraph 9, to take possession of\nthe property subject to such conditions or exceptions as may be specified\nby the court;\n(d) order any person having possession of the property to give possession of\nit to any such receiver;\n(e)\nempower any such receiver to realise any realisable property in such\nmanner as the court may direct; and\n(f)\norder any person holding an interest in realisable property to make such\npayment to the receiver in respect of any beneficial interest held by the\ndefendant or, as the case may be, the recipient of a gift caught by this\nSchedule as the court may direct and the court may, on the payment being\nmade, by order transfer, grant or extinguish any interest in the property.\n9 - Application of proceeds of realisation and other sums\n9.\n(1) Subject to subparagraph (2), such of any sums, being property of the defendant,\nas may be in the hands of the Official Receiver shall, after such payments, if\nany, as the Grand Court may direct have been made out of those sums, be paid\nto the Grand Court and applied for the purposes specified in subparagraphs (3)\nand (4) and in the order so specified.\n(2) Where a fixed amount is payable under the external confiscation order and, after\nthat amount has been fully paid, any such sums remain in the hands of a receiver,\nthe receiver shall distribute them \u2014\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 5\n\nc\nRevised as at 2nd January, 2025\nPage 155\n\n(a)\namong such of those persons who held property which has been realised\nunder this Schedule; and\n(b) in such proportions,\nas the Grand Court may direct after giving a reasonable opportunity for such\npersons to make representations to the court.\n10 - Exercise of powers of Grand Court or receiver\n10. (1) This paragraph applies to the powers conferred on the Grand Court by\nparagraphs 6, 8 and 9 on the Official Receiver.\n(2) Subject to subparagraphs (3) to (6), the powers shall be exercised with a view\nto recovering property which is liable to be recovered under an external\nconfiscation order registered in the Grand Court or, as the case may be, with a\nview to making available for recovery property which may become liable to be\nrecovered under any external confiscation order which may be made in the\ndefendant\u2019s case.\n(3) In the case of realisable property held by a person to whom the defendant has\ndirectly or indirectly made a gift caught by this Schedule, the powers shall be\nexercised with a view to releasing no more than the value for the time being of\nthe gift.\n(4) The powers shall be exercised with a view to allowing any person other than the\ndefendant or the recipient of any such gift to retain or recover the value of any\nproperty held by that person.\n(5) An order may be made or other action taken in respect of a debt held by the\nCrown.\n(6) Subject to paragraph 3(2), in exercising those powers no account shall be taken\nof any obligations of the defendant or of the recipient of any such gift which\nconflict with the obligation to satisfy the external confiscation order.\n11 - Bankruptcy of defendant, etc.\n11. (1) Where any order for bankruptcy is made against a person who holds realisable\nproperty \u2014\n(a)\nany property subject for the time being to a restraint order made before the\norder for bankruptcy; and\n(b) any proceeds of property realised by virtue of paragraph 6(8), or 8(e) or (f)\nfor the time being in the hands of a receiver appointed under paragraph 6\nor 8,\nis excluded from the property of the bankrupt for the purposes of the Bankruptcy\nAct (1997 Revision).\n\nSCHEDULE 5\nProceeds of Crime Act (2025 Revision)\n\nPage 156\nRevised as at 2nd January, 2025\nc\n\n(2) Where any order for bankruptcy is made against a person, the powers conferred\non the Grand Court by paragraphs 6, 8 and 9 or on a receiver appointed by such\norder shall not be exercised in relation to \u2014\n(a)\nproperty for the time being comprised in the property of the bankrupt for\nthe purposes of the Bankruptcy Act (1997 Revision);\n(b) property which is to be applied for the benefit of creditors of the bankrupt\nby virtue of a condition imposed under section 70 of that Act.\n(3) Nothing in the Bankruptcy Act (1997 Revision) shall be taken as restricting, or\nenabling the restriction of, the exercise of the enabling powers conferred on the\nGrand Court by paragraphs 6, 7, 9 and 10 or on a receiver.\n(4) Where in the case of a debtor \u2014\n(a)\nthe Trustee in Bankruptcy constituted by section 12 of the Bankruptcy Act\n(1997 Revision) has been ordered to become the receiver or manager of\nthe property or business of the debtor; and\n(b) any property of the debtor is subject to a restraint order,\nthe powers conferred on the Trustee by virtue of that Act do not apply to\nproperty for the time being subject to the restraint order.\n(5) Where any order for bankruptcy is made against a person who has directly or\nindirectly made a gift caught by this Schedule, sections 107 to 112 of the\nBankruptcy Act (1997 Revision) shall not apply when property of the person to\nwhom the gift was made is subject to a restraint order.\n12 - Winding up of company holding realisable property\n12. (1) Where realisable property is held by a company and an order for the winding up\nof the company has been made or a resolution has been passed by the company\nfor the voluntary winding up, the functions of the liquidator (or any provisional\nliquidator) shall not be exercisable in relation to \u2014\n(a)\nproperty for the time being subject to a restraint order made before the\nrelevant time; and\n(b) any proceeds of property realised by virtue of paragraph 6(8), or 8(e) or (f)\nfor the time being in the hands of a receiver appointed under paragraph 6\nor 8.\n(2) Where, in the case of a company, such an order has been made or such a\nresolution has been passed, the powers conferred on the Grand Court by\nparagraphs 6 and 8 or on a receiver appointed by the order shall not be exercised\nin relation to any realisable property held by the company in relation to which\nthe functions of the liquidator are exercisable \u2014\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 5\n\nc\nRevised as at 2nd January, 2025\nPage 157\n\n(a)\nso as to inhibit that person from exercising those functions for the purpose\nof distributing any property held by the company to the company\u2019s\ncreditors; or\n(b) so as to prevent the payment out of any property of any expenses\n(including the remuneration of the liquidator or any provisional liquidator)\nproperly incurred in the winding up in respect of the property.\n(3) In this paragraph \u201crelevant time\u201d means \u2014\n(a)\nwhere no order for the winding up of the company has been made, the time\nof the passing of the resolution for voluntary winding up;\n(b) where such an order has been made and, before the presentation of the\npetition for the winding up of the company by the court, such a resolution\nhad been passed by the company, the time of the passing of the resolution;\nand\n(c)\nin any other case where such an order has been made, the time of the\nmaking of the order.\n13 - Receivers: supplementary provisions\n13. (1) Where the Official Receiver takes any action \u2014\n(a)\nin relation to any property which is not realisable property, being action\nwhich that Official Receiver would be entitled to take if it were such\nproperty,\n(b) believing, and having reasonable grounds for believing, that that Official\nReceiver is entitled to take that action in relation to that property,\nthat Official Receiver shall not be liable to any person in respect of any loss or\ndamage resulting from that Official Receiver\u2019s action except insofar as the loss\nor damage is caused by that Official Receiver\u2019s negligence.\n(2) Any amount due in respect of the remuneration and expenses of a receiver so\nappointed shall, if no sum is available to be supplied in payment of it under\nparagraph 9(3), be paid by the person on whose application the receiver was\nappointed.\n14 - Application of procedure for enforcing fines\n14. (1) Where the Grand Court orders the defendant to pay an amount under this\nSchedule, sections 28 and 30 of the Penal Code (2024 Revision) shall have\neffect as if that amount were a fine imposed on that person by the Grand Court.\n(2) Where \u2014\n(a)\nthe court has directed that, in default of payment of an amount ordered to\nbe paid under this Schedule in respect of an offence, the defendant shall\nserve a term of imprisonment; and\n\nSCHEDULE 5\nProceeds of Crime Act (2025 Revision)\n\nPage 158\nRevised as at 2nd January, 2025\nc\n\n(b) at the time the direction is made, the defendant is liable to serve a term of\nimprisonment in respect of the offence,\nthe term of imprisonment to be served in default of payment of the amount shall\nnot begin to run until after the term mentioned in sub-subparagraph (b).\n(3) For the purposes of subparagraph (2) \u2014\n(a)\nconsecutive terms of imprisonment and terms of imprisonment which are\nwholly or partly concurrent shall be treated as a single term; and\n(b) there shall be disregarded any sentence suspended under section 24 of the\nPenal Code (2024 Revision) which has not taken effect at the time the\ndefendant has defaulted as specified in the direction.\n\nProceeds of Crime Act (2025 Revision)\n\nSCHEDULE 6\n\nc\nRevised as at 2nd January, 2025\nPage 159\n\nSCHEDULE 6\n(section 2)\nActivities falling within the Definition of \u201cRelevant Financial\nBusiness\u201d\nAny activity related but not limited to \u2014\n1.\nAcceptance of deposits and other repayable funds from the public.\n2.\nLending.\n3.\nFinancial leasing.\n4.\nMoney or value transfer services.\n5.\nIssuing and managing means of payment (e.g. credit and debit cards, cheques,\ntravellers\u2019 cheques, money orders and bankers\u2019 drafts, electronic money).\n6.\nFinancial guarantees and commitments.\n7.\nTrading in \u2014\n(a)\nmoney market instruments (cheques, bills, certificates of deposit,\nderivatives etc.);\n(b) foreign exchange;\n(c)\nexchange, interest rate and index instruments;\n(d) transferable securities; or\n(e)\ncommodity futures trading.\n8.\nParticipation in securities issues and the provision of financial services related to such\nissues.\n9.\nAdvice to undertakings on capital structure, industrial strategy and related questions\nand advice and services relating to mergers and the purchase of undertakings.\n10. Money broking.\n11. Individual and collective portfolio management and advice.\n12. Safekeeping and administration of cash or liquid securities on behalf of other persons.\n13. Safe custody services.\n14. Financial, estate agency (including real estate agency or real estate brokering), legal\nand accounting services provided in the course of business relating to \u2014\n(a)\nthe sale, purchase or mortgage of land or interests in land on behalf of\nclients or customers;\n(b) management of client money, securities or other assets;\n\nSCHEDULE 6\nProceeds of Crime Act (2025 Revision)\n\nPage 160\nRevised as at 2nd January, 2025\nc\n\n(ba) organisation of contributions for the creation, operation or management of\ncompanies;\n(c)\nmanagement of bank, savings or securities accounts; and\n(d) the creation, operation or management of legal persons or arrangements,\nand buying and selling of business entities.\n14A. Undertaking property development within the meaning set out in section 2 of the\nTrade and Business Licensing Act (2021 Revision) and the subsequent sale of that\nproperty without using a real estate agent or broker.\n14B. Repealed by section 19 of the Proceeds of Crime (Amendment) Act, 2023 (Act 12 of\n2023).\n15. The services of listing agents and broker members of the Cayman Islands Stock\nExchange as defined in the CSX Listing Rules and the Cayman Islands Stock\nExchange Membership Rules respectively.\n16. The conduct of securities investment business.\n17. Dealing in precious metals or precious stones, when engaging in a cash transaction\nthat is equivalent to ten thousand United States dollars or more.\n18. The provision of registered office services to a private trust company by a company\nthat holds a Trust licence under section 6(5)(c) of the Banks and Trust Companies Act\n(2025 Revision).\n19. Otherwise investing, administering or managing funds or money on behalf of other\npersons.\n20. Underwriting and placement of life insurance and other investment related insurance.\n21. Providing virtual asset services.\n22. Repealed by section 19 of the Proceeds of Crime (Amendment) Act, 2023 (Act 12 of\n2023).\nPublication in consolidated and revised form authorised by the Cabinet this 21st\nday of January, 2025.\nKim Bullings\nClerk of the Cabinet\n\nProceeds of Crime Act (2025 Revision)\n\nENDNOTES\n\nc\nRevised as at 2nd January, 2025\nPage 161\n\nENDNOTES\nTable of Legislation history:\nSL #\nAct\/Law #\nLegislation\nCommencement\nGazette\n10\/2024\n\nProceeds of Crime (Amendment) Act, 2023\n(Commencement) (Amendment) Order, 2024\n1-May-2024\nLG18\/2024\/s3\n1\/2024\n\nProceeds of Crime (Amendment) Act, 2023\n(Commencement) Order, 2024\n19-Jan-2024\nLG2\/2024\/s1\n\n12\/ 2023\nProceeds of Crime (Amendment) Act, 2023\n2-Jan-2025\nLG2\/2024\/s1\n\nProceeds of Crime Act (2024 Revision)\n15-Feb-2024\nLG9\/2024\/s1\n50\/2022\n\nProceeds of Crime (Amendment of Schedule 1) Order,\n2022\n20-Dec-2022\nLG50\/2022\/s1\n\n56\/2020\nCitation of Acts of Parliament Act, 2020\n3-Dec-2020\nLG89\/2020\/s1\n\n35\/2020\nCivil Partnership Law, 2020\n4-Sep-2020\nLG64\/2020\/s1\n\nProceeds of Crime Law (2020 Revision)\n16-Jan-2020\nLG6\/2020\/s2\n\n9\/2019\nProceeds of Crime (Amendment) Law, 2019\n18-Jun-19\nLG21\/2019\/s3\n\nProceeds of Crime Law (2019 Revision)\n21-Feb-19\nLG4\/2019\/s1\n\n28\/2018\nProceeds of Crime (Amendment) Law, 2018\n19-Dec-18\nGE97\/2018\/s3\nProceeds of Crime Law (2018 Revision)\n27-Mar-18\nGE25\/2018\/s1\n90\/2017\nProceeds of Crime (Amendment) Law, 2017\n(Commencement) Order, 2017\n1-Dec-17\nGE102\/2017\/s2\n49\/2017\nProceeds of Crime (Amendment) Law, 2017\n1-Dec-17\nGE100\/2017\/s9\nProceeds of Crime Law (2017 Revision)\n31-May-17\nGE45\/2017\/s28\n40\/2016\nProceeds of Crime (Amendment) (No. 2) Law, 2016\n19-Dec-16\nG26\/2016\/s8\nProceeds of Crime Law (2016 Revision)\n2-Sep-16\nGE69\/2016\/s20\nE9\/2016\nErratum: Proceeds of Crime (Amendment) Law, 2016\n22-Jul-16\nGE57\/2016\/p1\n20\/2016\nProceeds of Crime (Amendment) Law, 2016\n22-Jul-16\nGE56\/2016\/s1\n1\/2015\nProceeds of Crime (Amendment) Law, 2015\n8-May-15\nGE34\/2015\/s3\nE8\/2016\nErratum: Proceeds of Crime (2014 Revision)\n7-Nov-14\nGE46\/2015\/p13\nProceeds of Crime Law (2014 Revision)\n7-Nov-14\nGE83\/2014\/s3\n\n19\/2012\nDirector of Public Prosecutions (Miscellaneous\nAmendments) Law, 2012\n17-Sep-12\nGE90\/2012\/s17\n20\/2008\nProceeds of Crime Law (Commencement) Order, 2008\n25-Sep-08\nGE29\/2008\/s1\n10\/2008\nProceeds of Crime Law, 2008\n30-Sep-08\nGE23\/2008\/s2\n\nENDNOTES\nProceeds of Crime Act (2025 Revision)\n\nPage 162\nRevised as at 2nd January, 2025\nc\n\nProceeds of Crime Act (2025 Revision)\n\nENDNOTES\n\nc\nRevised as at 2nd January, 2025\nPage 163\n\nENDNOTES\nProceeds of Crime Act (2025 Revision)\n\nPage 164\nRevised as at 2nd January, 2025\nc\n\n(Price: $32.80)\n\n1 Note: section 23 of the Alternative Sentencing Act (2008 Revision) is not yet in force.","akn_extracted_at":"2026-06-22 15:36:56.573512+00","cms_id":"2008-0010","law_type":"principal","year":"2008","number":"10","title":"Proceeds of Crime Act","status":"in_force"},"provenance":{"files":[{"file_id":"5803","expr_id":"671","kind":"akn_xml","filename":"2008-0010_2025 Revision.akn.xml","source_url":null,"storage_path":"\/Users\/q\/kyleg-data\/working\/PRINCIPAL\/2008\/2008-0010\/2008-0010_2025 Revision.akn.xml","content_md5":"816f8e86fcbd387643655f20ace91ea7","byte_size":"347172","http_last_modified":null,"fetched_at":"2026-06-22 15:37:00.184892+00"},{"file_id":"1341","expr_id":"671","kind":"pristine_pdf","filename":"2008-0010_2025 Revision.pdf","source_url":"\/cms\/images\/LEGISLATION\/PRINCIPAL\/2008\/2008-0010\/2008-0010_2025 Revision.pdf","storage_path":"\/Users\/q\/kyleg-data\/pristine\/PRINCIPAL\/2008\/2008-0010\/2008-0010_2025 Revision.pdf","content_md5":"1740c9a4128a5b8cf3eafade1ad9551e","byte_size":"1653041","http_last_modified":null,"fetched_at":"2026-06-21 23:09:36.840585+00"},{"file_id":"1342","expr_id":"671","kind":"working_pdf","filename":"2008-0010_2025 Revision.pdf","source_url":"\/cms\/images\/LEGISLATION\/PRINCIPAL\/2008\/2008-0010\/2008-0010_2025 Revision.pdf","storage_path":"\/Users\/q\/kyleg-data\/working\/PRINCIPAL\/2008\/2008-0010\/2008-0010_2025 Revision.pdf","content_md5":"1740c9a4128a5b8cf3eafade1ad9551e","byte_size":"1653041","http_last_modified":null,"fetched_at":"2026-06-21 23:09:36.840585+00"}],"paragraph_count":196,"latest_history":null},"quality":{"expr_id":"671","doc_id":"671","quality_state":"needs_review","quality_score":"80","needs_human_review":"t","deterministic_categories":"{duplicate_text,page_header_footer_noise,paragraph_numbering_problem}","llm_categories":"{truncated_text,duplicate_text}","repair_actions":"{collapse_duplicate_text,rebuild_paragraphs,reextract_full_text,strip_page_furniture}","finding_severity_counts":"{\"low\": 1, \"medium\": 1}","finding_summary":"Sample shows likely truncation at end of Part 3 and repeated section headers; 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