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As enacted
Contents

Part IV · Protection, Preservation and Management of Proceeds of Crime

79. Using the seized or frozen proceeds of crime subject to protection, preservation, and management for lawful financial, trading or commercial activity

Official English translation. The Sinhala text prevails.

(1)

Any seized or frozen property suspected to be proceeds of crime which at the time of the seizure or judicial freezing was being used to carryout any lawful financial, trading or commercial activity, shall be used by the person to whom the management of such property has been entrusted by the High Court, in the same or nearly as the same lawful manner, with every meaningful step being taken to prevent –

(a)

the destruction or decay of the property;

(b)

the diminishing of its economic value;

(c)

the disruption of legitimate finance, trade or commerce;

(d)

the disruption of lawful employment; and

(e)

any adverse impact being caused to the interests of third parties.

(2)

Necessary action in such regard shall be taken pending the forfeiture of the property to the state, release or return to such property to the party having a legitimate entitlement to such property or pending a further order from the High

Court. Where further action need be taken to achieve the objectives contained in this section, the person entrusted with the task of managing the property, shall make appropriate applications to the High Court and obtain necessary further authorization.

Part V

Proceeds of Crime Management authority

Part VI

Forfeiture of Frozen Proceeds of Crime And Related Proceedings

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

Miscellaneous Provisions

Schedules