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S23 Proceeds of Crime Act

 

If you have been convicted of a criminal offence that falls within the scope of the Proceeds of Crime Act and a Confiscation Order has been made against you, then you may be required to sell what assets are available to you.  The money raised will count towards the amount owing under the Confiscation Order.

You may be ordered to sell a property and this will be listed as an available asset on the Confiscation Order.  The Confiscation Order will also state the value of the property agreed at Court.

There will be times when the value of the asset listed on the Order cannot be reached.  There are many reasons why this might happen; the price of the property might have gone down in value or there may be less money available after estate agent fees and legal fees are taken out.  If the asset is in negative equity and further charges are made, this could leave the property with little or no value and therefore unable to be sold.

Section 23 POCA allows for an application to be made to the Court seeking a reduction in the amount to be paid under the Order.  An application can be made when the value of the asset on the Confiscation Order cannot be reached.

If you do not pay a Confiscation Order a ‘default sentence’ may be imposed and you could serve further time in prison.

If the reason you have not paid the monies due under the Order is because your available assets do not reach the value agreed at Court, we can help you.  Our dedicated POCA team can help you by making a Section 23 application and seek a reduction in the amount due to be paid, helping you pay the Confiscation Order in full and so avoiding imprisonment.

If you believe your assets have been incorrectly valued and want to ensure that you pay only what is available to you, then please contact our POCA team.

For the expert legal advice, you need, get in touch with us today:

Angela Terenzini – Cohen Cramer Solicitors

 

 

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