Page 631 - IOM Law Society Rules Book

c.13 Proceeds of Crime Act 2008 253

(2) In subsection (1), “prescribed” means prescribed by an
order made by the Department of Home Affairs after consultation
with such persons as it considers appropriate.

(3) Proceedings for a recovery order may not be taken in
respect of cash found at any place in the Island unless the
proceedings are also taken in respect of property other than cash
which is property of the same person.

(4) Proceedings for a recovery order may not be taken
against any person in respect of any recoverable property which
that person holds by reason of acting, or having acted, as an
insolvency practitioner.

Miscellaneous

38. (1) If, in the case of any property to which a property Compensation
freezing order or an interim receiving order has at any time applied, P2002/29/283
the court does not in the course of the proceedings decide that the
property is recoverable property or associated property, the person
whose property it is may make an application to the court for
compensation.

(2) Subsection (1) does not apply if the court —

(a) has made a declaration in respect of the property by
virtue of section 36; or

(b) makes an order under section 31.

(3) If the court has made a decision by reason of which no
recovery order could be made in respect of the property, the
application for compensation must be made within the period of
3 months beginning, in relation to a decision of the High Court,
with the date of the decision or, if there is any application for
appeal, with the date on which the application is withdrawn or
refused or (if the application is granted) on which any proceedings
on appeal are finally concluded.

(4) If the proceedings in respect of the property have been
discontinued, the application for compensation must be made
within the period of 3 months beginning with the discontinuance.

(5) If the court is satisfied that the applicant has suffered
loss as a result of the order mentioned in subsection (1), it may
require the Attorney General to pay compensation to the applicant.

(6) If, but for section 24(2), any right mentioned there
would have operated in favour of, or become exercisable by, any