Criminal Proceeds (Recovery) Act 2009

Question 1

Purpose

Answer 1

Establish a regime for the forfeiture of property that has been derived directly/indirectly from significant criminal activity or that represents the value of a person’s unlawfully derived income.

The regime proposes to:

(a) eliminate the chance for persons to profit
(b) deter significant crime
(c) reduce the ability of criminals and associates to continue or expand criminal enterprise
(d) deal with matters associated with foreign restraining orders and foreign forfeiture orders that arise in NZ.

Question 2

Asset Forfeiture Order

Answer 2

Issued by the High Court on application. Must be issued on a successful application that shows on the balance of probability that specific assets which have been acquired have been tainted by significant criminal activity.

Question 3

Tainted Property

Definition as per S5

Answer 3

(a) any property that has, wholly or in part, been -
(i) acquired as a result of significant criminal activity; or
(ii) directly or indirectly derived from significant criminal
activity; and

(b) includes any property that has been acquired as a result of, or directly or indirectly derived from, more than one activity if at least one of those activities is a significant criminal activity.

Question 4

Qualifying Instrument Forfeiture Offence

Answer 4

(a) means an offence punishable by 5 years or more

AND

(b) includes an attempt to commit, conspiring to commit, or being an accessory to an offence if the maximum term of imprisonment for that attempt, conspiracy or activity is 5 years or more.

Question 5

Significant Criminal Activity

Answer 5

An activity engaged in by a person that if proceeded against as a criminal offence would amount to offending -

(a) that consists of, or includes, one or more offences punishable by a term of 5 years or more; or
(b) from which property, proceeds, or benefits of a value of $30,000 or more have, directly or indirectly, been acquired or derived.