sec.196Charge on restrained property under restraining order if pecuniary penalty order made

### sec.196 Charge on restrained property under restraining order if pecuniary penalty order made This section applies if— a pecuniary penalty order is, or has been, made against a person convicted of a confiscation offence (the prescribed respondent ); and a restraining order is, or has been, made against the property of a person, whether the prescribed respondent or someone else, based on— the prescribed respondent’s conviction of the confiscation offence; or the charging, or proposed charging, of the prescribed respondent with the confiscation offence or a related indictable offence. A charge on the property that secures the payment to the State of the amount payable under the pecuniary penalty order comes into existence on the making of whichever is the later of the pecuniary penalty order or the restraining order. The charge is declared to be a statutory interest to which section 73 (2) of the Personal Property Securities Act 2009 (Cwlth) applies. The charge ceases to have effect if— the pecuniary penalty order is discharged; or the pecuniary penalty is paid; or the property is disposed of under an order under section 219 ; or the property is disposed of with the approval of— the Supreme Court; or if the public trustee has been directed to take control of the property—the public trustee; or the property is sold to a buyer in good faith for sufficient consideration and without notice of the charge. The charge is subject to every encumbrance over the property that was in existence immediately before the pecuniary penalty order was made but has priority over all other encumbrances. Subject to subsection (3) , the charge remains on the property despite any disposal of the property. The charge may be registered under a law that provides for the registration of charges on property of the type affected by the charge. If the charge is registered under subsection (6) , a person who buys the property after the registration of the charge is, for the purposes of subsection (3) (e) , taken to have had notice of the charge. Subsection (7) does not apply to a charge over personal property mentioned on the register kept under the Personal Property Securities Act 2009 (Cwlth) . s 196 amd 2010 No. 44 s 173 (sec.196-ssec.1) This section applies if— a pecuniary penalty order is, or has been, made against a person convicted of a confiscation offence (the prescribed respondent ); and a restraining order is, or has been, made against the property of a person, whether the prescribed respondent or someone else, based on— the prescribed respondent’s conviction of the confiscation offence; or the charging, or proposed charging, of the prescribed respondent with the confiscation offence or a related indictable offence. (sec.196-ssec.2) A charge on the property that secures the payment to the State of the amount payable under the pecuniary penalty order comes into existence on the making of whichever is the later of the pecuniary penalty order or the restraining order. (sec.196-ssec.2A) The charge is declared to be a statutory interest to which section 73 (2) of the Personal Property Securities Act 2009 (Cwlth) applies. (sec.196-ssec.3) The charge ceases to have effect if— the pecuniary penalty order is discharged; or the pecuniary penalty is paid; or the property is disposed of under an order under section 219 ; or the property is disposed of with the approval of— the Supreme Court; or if the public trustee has been directed to take control of the property—the public trustee; or the property is sold to a buyer in good faith for sufficient consideration and without notice of the charge. (sec.196-ssec.4) The charge is subject to every encumbrance over the property that was in existence immediately before the pecuniary penalty order was made but has priority over all other encumbrances. (sec.196-ssec.5) Subject to subsection (3) , the charge remains on the property despite any disposal of the property. (sec.196-ssec.6) The charge may be registered under a law that provides for the registration of charges on property of the type affected by the charge. (sec.196-ssec.7) If the charge is registered under subsection (6) , a person who buys the property after the registration of the charge is, for the purposes of subsection (3) (e) , taken to have had notice of the charge. (sec.196-ssec.8) Subsection (7) does not apply to a charge over personal property mentioned on the register kept under the Personal Property Securities Act 2009 (Cwlth) . - (a) a pecuniary penalty order is, or has been, made against a person convicted of a confiscation offence (the prescribed respondent ); and - (b) a restraining order is, or has been, made against the property of a person, whether the prescribed respondent or someone else, based on— (i) the prescribed respondent’s conviction of the confiscation offence; or (ii) the charging, or proposed charging, of the prescribed respondent with the confiscation offence or a related indictable offence. - (i) the prescribed respondent’s conviction of the confiscation offence; or - (ii) the charging, or proposed charging, of the prescribed respondent with the confiscation offence or a related indictable offence. - (i) the prescribed respondent’s conviction of the confiscation offence; or - (ii) the charging, or proposed charging, of the prescribed respondent with the confiscation offence or a related indictable offence. - (a) the pecuniary penalty order is discharged; or - (b) the pecuniary penalty is paid; or - (c) the property is disposed of under an order under section 219 ; or - (d) the property is disposed of with the approval of— (i) the Supreme Court; or (ii) if the public trustee has been directed to take control of the property—the public trustee; or - (i) the Supreme Court; or - (ii) if the public trustee has been directed to take control of the property—the public trustee; or - (e) the property is sold to a buyer in good faith for sufficient consideration and without notice of the charge. - (i) the Supreme Court; or - (ii) if the public trustee has been directed to take control of the property—the public trustee; or