ABSTRACT
The most significant change to the anti-money laundering regime made by the Criminal Finances Act 2017 relates to an extension of the moratorium period. The handling of the property or becoming concerned in facilitating another person’s handling of the criminal property, is known as ‘the prohibited act’. There are prescribed forms for an application for an application to extend the moratorium period, and for a further application, available to be downloaded from the Ministry of Justice’s website in the Criminal Procedure Forms page under the heading ‘Proceeds of Crime Act 2002 moratorium period’. The position for the applicant becomes slightly more complicated where there is a desire to withhold specified information from a respondent. When the application is heard, the court must first determine the application to withhold information, in the respondent’s absence and that of any legal representative of the respondent.
