The principal objects of this Act are:

(a)

to deprive persons of the ^* proceeds of offences, the ^* instruments of offences, and ^* benefits derived from offences, against the laws of the Commonwealth or the ^* non-governing Territories; and

(b)

to deprive persons of ^* literary proceeds derived from the commercial exploitation of their notoriety from having committed offences; and

(c)

to punish and deter persons from breaching laws of the Commonwealth or the non-governing Territories; and

(d)

to prevent the reinvestment of proceeds, instruments, benefits and literary proceeds in further criminal activities; and

(e)

to enable law enforcement authorities effectively to trace proceeds, instruments, benefits and literary proceeds; and

(f)

to give effect to Australia's obligations under the Council of Europe Convention on Laundering, Search, Seizure and Confiscation of the Proceeds from Crime, and other international agreements relating to proceeds of crime; and

(g)

to provide for confiscation orders and restraining orders made in respect of offences against the laws of the States or the ^* self-governing Territories to be enforced in the other Territories.