Federal Register of Legislation - Australian Government

Primary content

Proceeds of Crime Amendment Act 1997

  • - C2004A05108
  • No longer in force
Act No. 8 of 1997 as made
An Act to amend the Proceeds of Crime Act 1987
Administered by: Attorney-General's
Originating Bill: Proceeds of Crime Amendment Bill 1996 [1997]
Date of Assent 05 Mar 1997
Date of repeal 10 Mar 2016
Repealed by Amending Acts 1990 to 1999 Repeal Act 2016
 

PROCEEDS OF CRIME AMENDMENT ACT 1996 No. 8, 1997

Making Information - Assented to 5 March 1997

PROCEEDS OF CRIME AMENDMENT ACT 1996 No. 8, 1997 - TABLE OF PROVISIONS

Contents 1 Short title 2 Commencement 3 Schedule(s) Schedule 1 - Amendment of the Proceeds of Crime Act 1987

PROCEEDS OF CRIME AMENDMENT ACT 1996 No. 8, 1997 - LONG TITLE

An Act to amend the Proceeds of Crime Act 1987

PROCEEDS OF CRIME AMENDMENT ACT 1996 No. 8, 1997 - SECT 1 1 Short title

This Act may be cited as the Proceeds of Crime Amendment Act 1997.

PROCEEDS OF CRIME AMENDMENT ACT 1996 No. 8, 1997 - SECT 2 2 Commencement

This Act commences on the day on which it receives the Royal Assent.

PROCEEDS OF CRIME AMENDMENT ACT 1996 No. 8, 1997 - SECT 3 3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

PROCEEDS OF CRIME AMENDMENT ACT 1996 No. 8, 1997 - SCHEDULE 1

Schedule 1 - Amendment of the Proceeds of Crime Act 1987 1 Subsection 4(1) (definition of equitable sharing program) Omit "either or both", substitute "any or all". 2 Subsection 4(1) (at the end of the definition of equitable sharing program) Add: (c) the Commonwealth shares with a foreign country a proportion of any proceeds of any unlawful activity recovered under a Commonwealth law where, in the opinion of the Attorney-General, the foreign country has made a significant contribution to the recovery of those proceeds or to the investigation or prosecution of the unlawful activity. 3 At the end of subsection 34B(1) Add: ; and (g) money, other than money referred to in paragraph (b), paid to the Commonwealth by a foreign country in connection with assistance provided by the Commonwealth in relation to the recovery by that country of the proceeds of unlawful activity or the investigation or prosecution of unlawful activity. 4 Subparagraph 34C(1)(a)(i) After "to States", insert "or to foreign countries". 5 Paragraph 34C(1)(b) Repeal the paragraph, substitute: (b) to the extent to which it comprises distributable funds - making payments to a GBE of any proceeds of confiscated assets that relate to a relevant offence that caused financial loss to the GBE. 6 Section 34D Repeal the section, substitute: 34D Transfer of balance of distributable funds to Consolidated Revenue Fund (1) Once in each financial year the Attorney-General must determine, in accordance with the regulations, the amount of distributable funds not required for meeting payments under paragraph 34C(1)(b). (2) As soon as practicable after the making of the determination, that amount must: (a) be deducted from the balance of distributable funds in the Trust Fund; and (b) be paid to the Consolidated Revenue Fund.


[Minister's second reading speech made in - House of Representatives on 11 September 1996 Senate on 10 December 1996]