162Forfeiture of seized things

162 Forfeiture of seized things

162 Forfeiture of seized things

(1) A seized thing is forfeited to the Regulator if the Regulator—

(a) cannot find the person entitled to the thing after making reasonable inquiries; or

(b) cannot return it to the person entitled to it, after making reasonable efforts; or

(c) reasonably believes it is necessary to forfeit the thing to prevent it being used to commit an offence against this Law.

(2) Subsection (1)(a) does not require the Regulator to make inquiries if it would be unreasonable to make inquiries to find the person entitled to the thing.

(3) Subsection (1)(b) does not require the Regulator to make efforts if it would be unreasonable to make efforts to return the thing to the person entitled to it.

(4) If the Regulator decides to forfeit the thing under subsection (1)(c), the Regulator must tell the person entitled to the thing of the decision by written notice.

(5) Subsection (4) does not apply if—

(a) the Regulator cannot find the person entitled to the thing, after making reasonable inquiries; or

(b) it is impracticable or would be unreasonable to give the notice.

(6) The notice must state—

(a) the reasons for the decision; and

(b) information about the right of review under Part 7.

(7) In deciding whether and, if so, what inquiries and efforts are reasonable or whether it would be unreasonable to give notice about a thing, regard must be had to the thing’s nature, condition and value.

(8) Any costs reasonably incurred by the Regulator in storing or disposing of a thing forfeited under subsection (1)(c) may be recovered in a court of competent jurisdiction as a debt due to the Regulator from that person.

(9) In this section—

person entitled to a thing means the person from whom it was seized unless that person is not entitled to possess it in which case it means the owner of the thing.