42DProperty of a person

42D Property of a person

(1) For the purpose of making a restraining order against the property of a person, that property is to be taken to include property in which the person has a beneficial interest. (2) For the purpose of making a restraining order against the property of a person who is a defendant within the meaning of Division 3A, that property is to be taken to include: (a) any property of the person that has been transferred by way of gift to another person within 2 years immediately before the day on which the restraining order is made or the day on which the person is charged with the relevant offence, whichever is the first to happen; or (b) where property of the person has been transferred to another person within that period for a consideration whose value is less than the commercial value of the property when the transfer was made—an interest in the property equal to the proportion worked out using the formula: Start formula start fraction VP minus VC over VP end fraction end formula where:

VP (value of the property) is the number of dollars in the commercial value of the property when the transfer was made.

VC (value of consideration) is the number of dollars in the value of the consideration for the transfer when the transfer was made.

(3) Property that is to be taken to be property of a person under subsection (1) is available to satisfy a recovery order made against the person, whether or not a restraining order has been made against the property. (4) Property that is to be taken to be property of a person under subsection (2) is available to satisfy a recovery order made against the person if, and only if, a restraining order has been made against the property.