48Charge on property subject to restraining order or freezing notice

48 Charge on property subject to restraining order or freezing notice

48 Charge on property subject to restraining order or freezing notice

(1) If—

(a) in reliance on the charging, or the proposed charging, of a person with, or the conviction of a person of, a serious offence, a court has made a restraining order or confirmed a freezing notice in respect of property of a person, and

(b) in reliance on the conviction of the person for the offence, a court subsequently makes a pecuniary penalty order or drug proceeds order against the person,

then, on the making of the pecuniary penalty order or drug proceeds order, there is created, by force of this section, a charge on all the property to which the restraining order or freezing notice applies to secure the payment to the State of the penalty amount.

(2) If a charge is created by subsection (1) on property of a person on the making of a pecuniary penalty order or drug proceeds order, the charge ceases to have effect in respect of the property—

(a) on the discharge of the pecuniary penalty order or drug proceeds order on the hearing of an appeal against the making of the pecuniary penalty order or drug proceeds order, or

(b) on payment by the person to the State of the penalty amount, or

(c) on the sale or other disposition of the property—

(i) pursuant to an order made by the Supreme Court under section 47, or

(ii) by the owner of the property with the consent of the Supreme Court, or

(iii) if the restraining order or freezing notice directed the NSW Trustee and Guardian or the Commissioner of Police to take control of the property—by the owner of the property with the consent of the NSW Trustee and Guardian or the Commissioner, or

(d) on the sale of the property to a purchaser in good faith for value who, at the time of purchase, has no notice of the charge,

whichever first occurs.

(3) A charge created on property by subsection (1) on the making of a pecuniary penalty order or drug proceeds order—

(a) is subject to every charge or encumbrance to which the property was subject immediately before the pecuniary penalty order or drug proceeds order was made and, in the case of land under the provisions of the , is subject to every mortgage, lease or other interest recorded in the Register kept under that Act, and