Section 9: Preservation order.

1 A preservation order shall be granted by the Court to preserve property reasonably suspected to have been derived from unlawful activities and represents instrumentality of unlawful activity or unclaimed property.

2 The relevant organisation may, by an ex parte application, apply to the Court for a preservation order restraining a person from dealing in any manner with any property, subject to such conditions and exceptions as may be specified in the order.

3 The Court shall make an order under subsection (2), where there are reasonable grounds to believe that the property concerned—
a represents the proceeds of unlawful activity, whether they are—
(i) in the hands of the person who unlawfully acquired the property in the first instance, or
(ii) traced to any person to whom the property that represents the proceeds have been passed;
b is involved in the facilitation of unlawful activity; or
c is intended to be used to facilitate unlawful activity.

4 Where further property has been acquired as a result or profits accruing from the proceeds of unlawful activity, that further property shall be treated as the proceeds of unlawful activity.

5 Where property referred to in subsection (3) is co-mingled with other property, this section applies to the portion of the property, resulting from unlawful activity.

6 The Court may make an ancillary order if —
a a person disposes of any property mentioned in subsection (3); and
b the person, who obtains the property disposed of, does so in good faith, for value and without notice that it was property mentioned in subsection (3).

7 A Court making a preservation order may at the same time make any other ancillary orders that it considers appropriate for the proper, fair and effective execution of the preservation order.

8 Upon the grant of a preservation order by the Court, the Directorate of the relevant organisation shall take possession of the property from any person in possession or entitled to possession of the property and may appoint a receiver in order to do so.