Finian McGrath
Question:1129 Mr. F. McGrath asked the Minister for Justice, Equality and Law Reform his plans regarding the money and property valued at ?44 million confiscated by the CAB. [19931/03]
Written Answers. - Proceeds of Crime.
The Criminal Assets Bureau enforces the Proceeds of Crime Act 1996 which provides statutory procedures of restraint. The effect of restraint orders made by the High Court is to freeze property deemed to be the proceeds of crime for at least seven years. After that period, a disposal order may be sought from the court to vest the property in the Minister for Finance. It is only where the court directs that such property be transferred that funds accrue to the Exchequer. Having regard to the seven year safeguard period, the issue of such disposal orders has not arisen to date.