32AThe national cooperative scheme

32A The national cooperative scheme

32A The national cooperative scheme

(1) In this section—

cooperating State has the meaning given by section 14F of the Commonwealth Proceeds of Crime Act.

corresponding proceeds of a State or Territory has the meaning given by the NCSUW agreement.

national cooperative scheme means a scheme under which any or all of the following happen—

(a) the State shares with the Commonwealth or another State or Territory, in accordance with this section, any corresponding proceeds of the State that are shareable,

(b) the Commonwealth, in accordance with a law of the Commonwealth, shares with the State any proceeds of confiscated assets that are shareable,

(c) a State (whether a participating State or a non-participating State) or a Territory, in accordance with a law of the State or Territory, shares with the State any corresponding proceeds of the State or Territory that are shareable.

NCSUW agreement means the Intergovernmental Agreement on the National Cooperative Scheme on Unexplained Wealth, as in force from time to time.

non-participating State has the meaning given by section 338 of the Commonwealth Proceeds of Crime Act.

participating State has the meaning given by section 14C of the Commonwealth Proceeds of Crime Act.

proceeds of confiscated assets has the meaning given by section 296 (3) of the Commonwealth Proceeds of Crime Act.

shareable, in relation to the proceeds of confiscated assets, has the meaning given by the NCSUW agreement.

(2) This section sets out the process under the national cooperative scheme for sharing with the Commonwealth or another State or Territory any corresponding proceeds of the State that are shareable.

(3) The corresponding proceeds of the State that are shareable with the Commonwealth or another State or Territory under the national cooperative scheme are to be reduced by any amount that is payable under section 32 (3) (a1) or (b).

(4) The amount left after any reduction is made under subsection (3) is the net amount.

(5) The Cooperating Jurisdiction Committee established under the NCSUW agreement must establish a subcommittee for the purposes of deciding matters under this section in relation to the net amount.

(6) The subcommittee must consist of the following members of the Cooperating Jurisdiction Committee—