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Interest on Proceeds of Crime Act confiscation orders

David Winch explains the calculation of interest on amounts not paid under a confiscation order and the effects of new legislation

6 May 2015

When a confiscation order is made in the Crown Court under the Proceeds of Crime Act (POCA) 2002, the order will specify the amount to be paid and the due date for payment.

Section 11 of POCA 2002, as originally enacted, envisages the whole amount becoming due by the same date, which will be not later than six months after the date of the order. But there is scope for that date to be postponed, on further application to the court, to a date not later than 12 months after the date of the order.

The Serious Crime Act 2015 will substitute a new section 11 (when the relevant section comes into force), which will expressly permit the amount to be paid in instalments, due by different dates, each of which is to be not later than three months after the date of the ...

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