Page 232 - FIC ANTI MONEY LAUNDERING AND COUNTER-TERRORISM FINANCING LEGISLATION

Chapter 7 I POCA
230
CHAPTER 7
CRIMINAL ASSETS RECOVERY ACCOUNT
63. Establishment of Criminal Assets Recovery Account
There is hereby established in the National Revenue Fund a separate account to be known as the Criminal Assets Recovery Account.
64. Finances of Account
The Account shall consist of—
(a) all moneys derived from the fulfilment of confiscation and forfeiture orders contemplated in Chapters 5 and 6;
(aA) all property derived from the fulfilment of forfeiture orders as contemplated in section 57;
(b) the balance of all moneys derived from the execution of foreign confiscation orders as defined in the International Co-Operation in Criminal Matters Act, 1996 (Act 75 of 1996), after payments have been made to requesting States in terms of that Act;
(c) any property or moneys appropriated by Parliament, or paid into, or allocated to, the Account in terms of any other Act;
(d) domestic and foreign grants;
(e) any property or amount of money received or acquired from any source; and
(f) all property or moneys transferred to the Account in terms of this Act.
65. Establishment of Committee
(1) There is hereby established a Committee to be known as the Criminal Assets Recovery Committee.
(2) The Committee shall consist of—
(a) the Minister, who shall be the chairperson of the Committee;
(b) the Minister of Safety and Security;
(c) the Minister of Finance;
(d) the National Director; and
(e) if necessary, two other persons designated by the Minister.