58FEEffect of forfeiture orders

#### 58FE Effect of forfeiture orders Security is money held by the Court or property other than registrable property (1) If security specified in a forfeiture order is: (a) money deposited with or otherwise provided to the Court; or (b) property other than: (i) money; or (ii) registrable property; the security vests absolutely in the Commonwealth at the time the order takes effect. Security is money not held by the Court (2) If security specified in a forfeiture order is an amount of money that has not been deposited with or otherwise provided to the Court, then: (a) the amount is taken to be a civil debt payable by the provider of the security to the Commonwealth at the time the order takes effect; and (b) the Commonwealth may enforce the forfeiture order as if it were an order made in civil proceedings against the provider to recover a debt due by the provider; and (c) the debt arising from the order is taken to be a judgment debt; and (d) if the undertaking under which the amount was provided as security also specified property to secure payment of the amount—the Commonwealth may enforce the undertaking in respect of that property. Security is registrable property (3) If security specified in a forfeiture order is registrable property, then: (a) that property vests in equity in the Commonwealth but does not vest in the Commonwealth at law until the applicable registration requirements have been complied with; and (b) the prosecutor may, on behalf of the Commonwealth, do anything necessary or convenient to give notice of, or otherwise protect, the Commonwealth’s equitable interest in that property; and (c) the Commonwealth is entitled to be registered as the owner of that property; and (d) the Court may, by order, authorise a person to: (i) do; or (ii) authorise the doing of; anything necessary or convenient to obtain the registration of the Commonwealth as the owner. (4) The powers of a person who is the subject of an order under paragraph (3)(d) include executing any instrument required to be executed by a person transferring an interest in property of that kind. Meaning of registrable property (5) In this section: > registrable property means property, title to which is passed by registration on a register kept pursuant to a provision of any law of the Commonwealth or of a State or Territory.