Proceeds of Crime Act 2025 · As enacted · Part VI · Forfeiture of Frozen Proceeds of Crime And Related Proceedings
128. Provisions common to post-conviction forfeiture of proceeds of crime and non-conviction based forfeiture of proceeds of crime following the order of forfeiture
Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk
Official translationFrom Department of Government Printing, unchanged
If upon the conclusion of the inquiry into proceeds of crime the court makes an order for forfeiture of the property, the court shall direct the Authority, Receiver or the Special Manager as the case may be to release the property to the party stipulated by court:
Provided however, if the Court is of the view that notwithstanding the forfeiture of the property to the state, such property shall be protected, preserved and managed for a further period of time as the Court shall deem fit, for reasons to be recorded, the court shall direct the Authority, Receiver or the Special Manager as the case may be to continue to provide protection, preservation and management of the property upon such terms and conditions the court shall deem fit.
Following forfeiture of the property to the state, the High Court shall direct the Authority, the Receiver or the Special Manager as the case may be to dispose of the property through public auction or any other means of disposal recommended by the Authority and approved by Court, subject to the terms of this Act and any other conditions the Court may impose:
Provided however, if the property has been already disposed of pending forfeiture proceedings, it shall not be necessary for Court to make a post-forfeiture disposal order.
If the Authority, Receiver or the Special Manager reports to Court that in view of the present condition or attendant circumstances relating to the property, the disposal of such property may not be possible or may not give rise to the realization of true value of such property, and the Court is satisfied of such reason, the court may make necessary orders to relevant Competent Authorities of the Government with regard to the property, so as to enable the disposal of the property through public auction and realization of true value thereof.
Provided however, if the Court is of the view that given the attendant circumstances, the disposal of the property will not be in any event possible, the Court shall make an appropriate order transferring the property to a Competent
Authority of the Government of Sri Lanka.
The Authority, Receiver or Special Manager as the case may be shall on the direction of the court dispose of the property and upon realization of the value thereof credit the said sum of money to the account titled Proceeds of Disposal of Proceeds of Crime of the Authority.
Following the receipt of the money realized from the disposal of the forfeited property, the Authority shall disburse the said funds in the manner provided for in this
Act.
If at the time the Court is required to make an order for the disbursement of monies arising out of the disposal of forfeited proceeds of crime, the Authority has not been established or is in capable of performing its functions in terms of this Act, the Court shall direct that the proceeds of disposal be remitted to a separate account maintained by
Court, and shall thereafter disburse such funds in the manner this Act has stipulated that the Authority disburse such funds.
Part VII
Civil Remedy For Victims Of Crime
Part VIII
Disposal Of Forfeited Proceeds Of Crime And The Utilization Of The Value Derived Thereof
Part IX
Victims Of Crime Reparation Trust Fund
Part X
International Cooperation
Part XI