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Confiscation of Criminal Assets Act 2003
101Sale, modification or destruction of property by public
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101 Sale, modification or destruction of property by public
(1) The public trustee and guardian may sell restrained property if—
(a) the property is deteriorating or substantially losing value or the
public trustee and guardian considers that the property is likely
to deteriorate or substantially lose value; or
(b) the public trustee and guardian considers that the cost of
maintaining the property would be more than the value of the
property if the property were forfeited.
(2) The restraining order that applied to restrained property sold under
this section applies to the proceeds of the sale of the property.
(3) The public trustee and guardian may modify or destroy restrained
property if the public trustee and guardian considers it is necessary to
do so in the public interest.
Examples of destruction of property in the public interest
1 the restrained property cannot be used legally or the only practical use of the
property is for an illegal purpose
2 the restrained property is a threat to public health or safety