PROCEEDS OF CRIME (RECOVERY AND MANAGEMENT) ACT
Section 28: Interest to be paid on seized cash.
1 Where cash under section 27 of this Act—
a is detained, by officers of other relevant organisation, the Directorate shall be immediately notified within seven days, for purpose of documentation and the cash paid into the designated account of the relevant organisation; or
b was seized under section 26 (1) of this Act, the relevant organization shall, subject to subsection (2), release on an application made by the person from whom the cash was seized, the part of the cash to which the suspicion does not relate.
2 Where—
a part of the cash, referred to in subsection (1) to which suspicion does not relate, may still be subject to a confiscation order, under Part VI of this Act, and
b an application for a restraint order, under Part VI of this Act in respect of a person, who has an interest in the cash has been made and refused, the relevant organisation may retain the cash in the designated account, until such time as a confiscation order is made in respect of the cash, or until an application made under this Act is granted by the Court.
Cite this section
Section 28, PROCEEDS OF CRIME (RECOVERY AND MANAGEMENT) ACT (2022).
https://repo.podus.ai/laws/proceeds-of-crime-recovery-and-management-act/section/28/