Page 709 - IOM Law Society Rules Book

c.13 Proceeds of Crime Act 2008 331

(4) The references in subsection (2)(a) and (b) to the value
are to the value found in accordance with section 127.

129. (1) The value at any time (the material time) of a tainted Value of
gift is the greater of the following — tainted gifts
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(a) the value (at the time of the gift) of the property given,
adjusted to take account of later changes in the value of
money;

(b) the value (at the material time) of the property found
under subsection (2).

(2) The property found under this subsection is as follows —

(a) if the recipient holds the property given, the property
found under this subsection is that property;

(b) if the recipient holds no part of the property given, the
property found under this subsection is any property
which directly or indirectly represents it in the hands
of the recipient;

(c) if the recipient holds part of the property given, the
property found under this subsection is that part and
any property which directly or indirectly represents the
other part in the hands of the recipient.

(3) The references in subsection (1)(a) and (b) to the value
are to the value found in accordance with section 127.

130. Property is free unless an order is in force in respect of it Free property
under any of these provisions —
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(a) section 27 of the Misuse of Drugs Act 1976 (forfeiture [c.21]
orders);

(b) section 16 of the Criminal Law Act 1981 (deprivation [c.20]
orders);

(c) section 16 of the Anti-Terrorism and Crime Act 2003 [c.6]
(forfeiture orders);

(d) section 6, 13, 22, 47(4) or 50(2) of this Act.

131. Realisable property is — Realisable
property
(a) any free property held by the defendant; P2002/29/83