Commonwealth Numbered Acts

PROCEEDS OF CRIME ACT 1987 No. 87, 1987 - SECT 64

64. (1) Where:

   (a)  a foreign restraining order is made against property of a person in
        reliance on the person's conviction, or alleged commission, of a
        foreign serious offence;

   (b)  the foreign restraining order is registered in a court in Australia
        under the Mutual Assistance Act;

   (c)  a foreign pecuniary penalty order has been or is made against the
        person in reliance on the person's conviction of the offence or a
        related foreign serious offence; and

   (d)  the foreign pecuniary penalty order has been or is registered in a
        court in Australia under the Mutual Assistance Act; then, upon the
        registration of the foreign restraining order or the
        foreign pecuniary penalty order, whichever last occurs, there is
        created, by force of this section, a charge on the property to secure
        the payment to the Commonwealth of the penalty amount.

(2) Where a charge is created by subsection (1) on property of a person, the
charge ceases to have effect in respect of the property:

   (a)  upon payment to the Commonwealth of the penalty amount in satisfaction
        of the foreign pecuniary penalty order;

   (b)  upon the person becoming a bankrupt;

   (c)  upon the sale or other disposition of the property;

        (i)    under an order under section 63;

        (ii)   by the owner of the property with the consent of the court in
               which the foreign pecuniary penalty order is registered; or

        (iii)  where an order under section 61 directed the Official Trustee
               to take control of the property-by the owner of the property
               with the consent of the Official Trustee;

   (d)  upon the sale of the property to a purchaser in good faith for value
        who, at the time of purchase, has no notice of the charge; or

   (e)  upon the cancellation of the registration of the relevant foreign
        restraining order, or the cancellation of the registration of the
        relevant foreign pecuniary penalty order, in accordance with the
        Mutual Assistance Act; whichever first occurs.

(3) A charge created on property by subsection (1):

   (a)  is subject to every encumbrance on the property that came into
        existence before the charge and that would, apart from this
        subsection, have priority over the charge;

   (b)  has priority over all other encumbrances; and

   (c)  subject to subsection (2), is not affected by any change of ownership
        of the property.

(4) Where a charge is created by subsection (1) on property of a particular
kind and the provisions of any law of the Commonwealth or of a State or
Territory provide for the registration of title to, or charges over, property
of that kind, the Official Trustee or the DPP may cause the charge so created
to be registered under the provisions of that law and, if the charge is so
registered, a person who purchases or otherwise acquires an interest in the
property after the registration of the charge shall, for the purposes of
paragraph (2) (d), be deemed to have notice of the charge at the time of
purchase or acquisition.