New South Wales Consolidated Acts

CONFISCATION OF PROCEEDS OF CRIME ACT 1989 - SECT 42O

42O Contravention of freezing notices

(1) A person who knowingly contravenes a freezing notice is guilty of an offence and punishable, on conviction, by a fine equivalent to the value of the property subject to the notice (as determined by the appropriate court) or by imprisonment for a period not exceeding 2 years, or both.

(2) If--

(a) a freezing notice is made against property, and

(b) the property is disposed of, or otherwise dealt with, in contravention of the notice, and

(c) the disposition or dealing was either not for sufficient consideration or not in favour of a person who acted in good faith,

an appropriate officer may apply to the Supreme Court for an order that the disposition or dealing be set aside.

(3) The Supreme Court may, on an application under subsection (2), make an order--

(a) setting aside the disposition or dealing as from the day on which the disposition or dealing took place, or

(b) setting aside the disposition or dealing as from the day of the order and declaring the respective rights of any persons who acquired interests in the property on or after the day on which the disposition or dealing took place and before the day of the order.