12. Replacement of section 14 of the principal enactment

Section 14 of the principal enactment is hereby repealed and the following section is substituted therefor:—

14. (1) Any person, being a person to whom the provisions of paragraph (a) of section 2 do not apply, who owns, possesses or is in control of, any account, property or investment to which the Freezing Order made under section 7 relates, may within thirty days of the making of such Order apply to the Court making the same, seeking the intervention of Court to exclude from such Order any account, property or investment he owns, possesses or is in control of.

Where an application is made under subsection (1), the Court shall upon being satisfied on the information before Court that—

the account, property or investment which the applicant owns, possesses or is in control of, is not derived or

the applicant was not in any way involved in the commission of the offence of money laundering in relation to which the Freezing Order was made;

the applicant had acquired an interest in the account, property or investment at any time prior to the commission of the offence of money laundering and the applicant was unaware of the fact that the defendant had used or had intended to use such account, property or investment in or in connection with the commission of such offence; or

the applicant had acquired an interest in the account, property or investment at the time of or after the commission or alleged commission of the offence, that such interest was acquired in circumstances which would not give rise to a reasonable suspicion that such account, property or investment was proceeds or instrumentalities of such offence, make Order for the release of the account, property or investment which is the subject of the application before it, from the Freezing