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Criminal Proceeds Confiscation Act 2002
sch.1-sec.2Example 2
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### sch.1-sec.2 Example 2
A acquires $25,000 as the proceeds of an illegal activity.
A uses the $25,000 to buy a car.
The car is illegally acquired property.
A sells the car to B for its market value of $22,000.
B does not know, and has no reason to suspect, the car is illegally acquired property.
The car, now in the hands of B, stops being illegally acquired property.
The money B paid to A for the car is illegally acquired property.
B sells the car to C, a used car dealer, who then sells it to A.
When A buys the car from C, the car again becomes illegally acquired property.
(sch.1-sec.2-ssec.1) A acquires $25,000 as the proceeds of an illegal activity.
(sch.1-sec.2-ssec.2) A uses the $25,000 to buy a car.
(sch.1-sec.2-ssec.3) The car is illegally acquired property.
(sch.1-sec.2-ssec.4) A sells the car to B for its market value of $22,000.
(sch.1-sec.2-ssec.5) B does not know, and has no reason to suspect, the car is illegally acquired property.
(sch.1-sec.2-ssec.6) The car, now in the hands of B, stops being illegally acquired property.
(sch.1-sec.2-ssec.7) The money B paid to A for the car is illegally acquired property.
(sch.1-sec.2-ssec.8) B sells the car to C, a used car dealer, who then sells it to A.
(sch.1-sec.2-ssec.9) When A buys the car from C, the car again becomes illegally acquired property.