Forfeiture of assets

Forfeiture of assets of equivalent value

The court may order forfeiture of assets

If the assets have been destroyed or damaged or rendered unserviceable, the court may order the forfeiture of assets of equivalent value along with the forfeiture of assets under Section 70, paragraph 1.

Forfeiture of assets that are the fruits of corruption and bribery

Draft Section 71 enables the forfeiture of assets of equivalent value in situations where assets that could be subject to forfeiture under Section 70, paragraphs 1 and 2, have been destroyed, damaged, transferred, rendered unserviceable or used up or expended by the offender already before the court issued the forfeiture order, or where the offender otherwise prevents the forfeiture of such assets.

If the offender has destroyed, damaged, transferred, rendered unserviceable or used, in particular used up or expended, any assets that could be subject to forfeiture under Section 70, paragraphs 1 and 2, or where the offender has otherwise prevented the forfeiture of such assets, the court may order the forfeiture of funds up to the amount corresponding to the value of such assets the value of assets that could be subject to forfeiture may be estimated by the court.

The aim was to increase the risk of detection and prosecution and forfeiture of criminal assets.

The court may order forfeiture only if the assets concerned belong to the offender.

Since some assets, though considerably damaged, may retain their dangerous properties (e.g. radioactive material, components of weapons and explosives), the draft new Criminal Code permits the court to order, along with the forfeiture of such destroyed, damaged or unserviceable assets under Section 70, paragraph 1, also the forfeiture of assets of equivalent value

If the offender possesses, without permission or in violation of laws and regulations, the assets described in paragraphs 1 and 2 that may be subject to forfeiture, the court shall in all cases order forfeiture.

States should be encouraged to adopt legislation that would allow the seizure and forfeiture of assets acquired through corruption and bribery.

A special prosecution unit had also been established in the Office of the Attorney General to deal with forfeiture of assets emanating from terrorist activities.

Several States referred to constraints faced during investigative, prosecution and trial phases, in particular the lack of financial resources and trained personnel to secure forfeiture of assets.

1.2 The CTC would appreciate knowing whether the draft Law on Forfeiture of Criminal Assets, approved by the Council of Ministers in February 2004, has become law.

Section 11Q Forfeiture

Confiscation or forfeiture

Forfeiture of the right to a will

Pending the entry into force of the court order, it is prohibited to transfer or otherwise dispose of the forfeited assets with the aim to prevent the execution of the forfeiture order.

A continuing challenge facing several States in the investigative, prosecution and trial phases was the lack of financial resources and trained personnel with the operational know how required to achieve the forfeiture of assets.

A specialized prosecution unit had also been established at the Office of the Attorney General to prosecute terrorism and money laundering cases and to deal with the forfeiture of assets emanating from terrorist activities.

Effective money laundering laws involving detection, seizure and confiscation, including forfeiture where applicable, of criminal assets were important approaches in that regard, since the main motive for such illegal activity was the acquisition of wealth.

Part 8 deals with seizure and forfeiture property.

In Argentina, Guatemala and Honduras customs seized the assets and started an investigation and in Canada, Nigeria and Zimbabwe the penalty was forfeiture, which could be combined with a fine and imprisonment.

Moreover, for minor indiscretions, the man can reportedly force the forfeiture of the mahr during divorce proceedings, in the course of which the woman may also lose her assets in the marriage and the custody of children above a certain age.

Not only are bank secrecy laws an impediment to effective domestic implementation of those conventions, but they also hamper international cooperation in the context of mutual legal assistance, particularly with regard to the tracing, confiscation and forfeiture of assets and proceeds derived from drug trafficking.

Training also includes asset identification and removal through seizure and forfeiture of civil and criminal nature.

In Barbados' legal system the freezing, restraining, forfeiture or confiscation of assets can be effected under the Anti Terrorism Act, Cap. 158, the Proceeds of Crime Act, Cap. 143, the Money Laundering and Financing of Terrorism (Prevention and Control) Act, 2002 and the Customs Act Cap.

shall be punished by imprisonment for a term of eight to fifteen years or by forfeiture of property.

shall be punished by imprisonment for a term of eight to fifteen years or by forfeiture of property.

Barbados provides and makes arrangements for training in the area of proceeds from crime and asset forfeiture.

As indicated above, training has been received in the areas of asset forfeiture and proceeds from crime.

(b) Permitting the seizure and confiscation, including forfeiture, where applicable, of criminal instrumentalities and proceeds wherever found

30. States should consider adopting legislative measures for the confiscation or seizure of illicit proceeds from drug trafficking and other serious offences, asset forfeiture, as required, and the availability of provisional arrangements, such as the freezing or seizing of assets, always with due respect for the interests of bona fide third parties. States should also consider the introduction of arrangements for the equitable sharing of such forfeited assets.

(b) Providing direct on site mentor support in ongoing prosecution and asset forfeiture casework

Special emphasis was placed on drafting documents for applications for restraint and forfeiture orders.

Management of peacekeeping assets field assets control system

The failure to claim it in the contract, however, is regarded as an implicit forfeiture of that right.

Whether it appears that the vehicle may be subject to forfeiture under the laws of the notifying State.

if the assets sold are non equity assets, the total assets and the net assets are respectively the book value of the assets and the difference between the related assets and the book value of the liabilities

The offender shall be punished by imprisonment for a term of two to eight years or by forfeiture of property,

The offender shall be punished by imprisonment for a term of three to ten years or by forfeiture of property,

11. Whether it appears that the vehicle may be subject to forfeiture under the laws of the notifying State.

16. Typically, trade embargoes entail forfeiture of foreign exchange earnings that may be badly needed to finance essential imports.

if the assets sold are equity, the total assets, business income and net assets are respectively the product of total assets, business income and net assets of the invested enterprise and the equity percentage of the investment.