21FEffect of assets forfeiture notice

#### 21F Effect of assets forfeiture notice 21F Effect of assets forfeiture notice > > (1) An assets forfeiture notice takes effect— > > > > > (a) immediately after the end of the dispute period, or > > > > > (b) if a dispute claim is made—on the day the dispute claim is finally dismissed and the right of appeal under section 21I is exhausted. > > > (2) The Commission must, as soon as practicable after an assets forfeiture notice takes effect, give written notice of the forfeiture (a final notice) to— > > > > > (a) each person who was given a notice under section 21C, and > > > > > (b) a person who made a dispute claim in relation to the notice. > > > (3) On an assets forfeiture notice taking effect in relation to an interest in property— > > > > > (a) the interest is forfeited to the Crown and vests in the NSW Trustee and Guardian on behalf of the Crown, and > > > > > (b) if the person forfeiting the interest was in, or entitled to, possession of the property—the NSW Trustee and Guardian may take possession of the property on behalf of the Crown. > > > (4) An interest forfeited under this section must be disposed of by the NSW Trustee and Guardian in accordance with the directions of the Treasurer. > > > (5) The proceeds must be— > > > > > (a) paid to the Treasurer, and > > > > > (b) credited to the Proceeds Account. > > > (6) The Treasurer may delegate the power to give directions under this section. > > **s 21F:** Ins 2022 No 55, Sch 3\[7\].