sec.23Meaning of serious crime derived property

### sec.23 Meaning of serious crime derived property Property is serious crime derived property if it is all or part of the proceeds of a serious crime related activity. Property is also serious crime derived property if— it is all or part of the proceeds of dealing with serious crime derived property; or all or part of it was acquired using serious crime derived property. For subsection (2) , it does not matter whether the property dealt with or used in the acquisition became serious crime derived property because of subsection (1) or subsection (2) . Subsections (1) and (2) apply whether or not the activity, dealing or acquisition because of which the property became serious crime derived property happened before the commencement of this section. Also, if the proceeds of dealing with serious crime derived property are credited to or placed in an account, the proceeds do not lose their identity as proceeds because they are credited to or placed in an account. (sec.23-ssec.1) Property is serious crime derived property if it is all or part of the proceeds of a serious crime related activity. (sec.23-ssec.2) Property is also serious crime derived property if— it is all or part of the proceeds of dealing with serious crime derived property; or all or part of it was acquired using serious crime derived property. (sec.23-ssec.3) For subsection (2) , it does not matter whether the property dealt with or used in the acquisition became serious crime derived property because of subsection (1) or subsection (2) . (sec.23-ssec.4) Subsections (1) and (2) apply whether or not the activity, dealing or acquisition because of which the property became serious crime derived property happened before the commencement of this section. (sec.23-ssec.5) Also, if the proceeds of dealing with serious crime derived property are credited to or placed in an account, the proceeds do not lose their identity as proceeds because they are credited to or placed in an account. - (a) it is all or part of the proceeds of dealing with serious crime derived property; or - (b) all or part of it was acquired using serious crime derived property.