The Criminal Finances Act 2017 makes provision for unexplained wealth orders. Jonathan Grimes and Jonathan Blunden (Kingsley Napley) explain what the orders will mean.
On 27 April 2017 the Criminal Finances Bill received royal assent. Part 1 of the Criminal Finances Act (CFA) 2017 provides for unexplained wealth orders (UWOs) by inserting new sections (ss 362A–362I) into the Proceeds of Crime Act (POCA) 2002. This article examines UWOs. Unless otherwise stated all statutory references are hereinafter to POCA 2002.
What are UWOs?
A UWO is defined by s 362A as an order requiring an individual (the respondent) to set out the nature and extent of his interest in the property that is the subject of the order and to explain how he obtained that property in cases where that person’s known income does not explain ownership of that property.
The UWO is at the centre...
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The Criminal Finances Act 2017 makes provision for unexplained wealth orders. Jonathan Grimes and Jonathan Blunden (Kingsley Napley) explain what the orders will mean.
On 27 April 2017 the Criminal Finances Bill received royal assent. Part 1 of the Criminal Finances Act (CFA) 2017 provides for unexplained wealth orders (UWOs) by inserting new sections (ss 362A–362I) into the Proceeds of Crime Act (POCA) 2002. This article examines UWOs. Unless otherwise stated all statutory references are hereinafter to POCA 2002.
What are UWOs?
A UWO is defined by s 362A as an order requiring an individual (the respondent) to set out the nature and extent of his interest in the property that is the subject of the order and to explain how he obtained that property in cases where that person’s known income does not explain ownership of that property.
The UWO is at the centre...
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