Commonwealth Numbered Regulations - Explanatory Statements

[Index] [Search] [Download] [Related Items] [Help]

PROCEEDS OF CRIME REGULATIONS (AMENDMENT) 1991 NO. 460

STATUTORY RULES 1991 No. 460

Issued by the Authority of the Attorney-General

Proceeds of Crime Act 1987

Proceeds of Crime Regulations (Amendment)

Section 104 of the Proceeds of Crime Act 1987 provides that the Governor-General may make Regulations for the purposes of the Act. The Proceeds of Crime Legislation Amendment Act 1991 amends the Proceeds of Crime Act to establish the Confiscated Assets Trust Fund, a fund into which will be paid funds recovered under the Proceeds of Crime Act, the drug trafficking provisions of the Customs Act 1901 and property condemned under section 9 of the Crimes Act 1914.

The money in the Trust Fund will be distributed to law enforcement agencies and to drug education programs and programs for the rehabilitation of drug users. Some of the money will be required for other purposes, for example payments to the States under the equitable sharing program or repatriation of funds to a foreign country where the money was recovered pursuant to an overseas order enforced in Australia under the Mutual Assistance in Criminal Matters Act 1987. The money available for distribution to law enforcement agencies and to drug education or rehabilitation programs is described as "distributable funds". The money required for secondary purposes is described as "suspended funds".

The Proceeds of Crime Regulations are amended in order to prescribe certain moneys as "distributable funds" and certain amounts as "suspended funds"; to prescribe government business enterprises for the purposes of payments out of the Trust Fund; to provide for the giving of notice by the Australian Federal Police and the Director of Public Prosecutions of possible claims under the equitable sharing program so that money may be allocated to "suspended funds" to meet such claims; to provide for an annual management fee for the Trust Fund; to provide for the determination by the Attorney-General of the balance of distributable funds; and to prescribe law enforcement agencies for the purposes of subsection 34D(3) of the Act.

The Regulations will commence on gazettal.

Attorney-General