If:
(a) either:
(i) a criminal proceeding has commenced, or there are reasonable grounds to suspect that a criminal proceeding is about to commence, in a foreign country in respect of a foreign serious offence; or
(ii) foreign confiscation proceedings have commenced, or there are reasonable grounds to suspect that such proceedings are about to commence, in a foreign country; and
(b) there are reasonable grounds to believe that property that may be made or is about to be made the subject of a foreign restraining order is located in Australia; and
(c) the foreign country requests the Attorney - General to obtain the issue of a restraining order against the property;
the Attorney - General may authorise a proceeds of crime authority to apply for a restraining order against that property in respect of the offence.