Summary

Amends the: Proceeds of Crime Act 2002 to respond to eight of the recommendations of the Parliamentary Joint Committee on Law Enforcement report Inquiry into Commonwealth unexplained wealth legislation and arrangements by: including a statement in the objects about undermining the profitability of criminal enterprise; ensuring that evidence relevant to unexplained wealth proceedings can be seized under a search warrant; addressing duplication in affidavit requirements; allowing the time limit for serving notice of a preliminary unexplained wealth order to be extended by a court in certain circumstances; harmonising provisions relating to the payment of legal expenses for unexplained wealth cases; allowing charges to be created over restrained property to secure payment of an unexplained wealth order; removing a court’s discretion to make unexplained wealth restraining orders, preliminary unexplained wealth orders and unexplained wealth orders once relevant criteria are satisfied; and expanding the parliamentary joint committee’s oversight of unexplained wealth investigations and litigation. Also amends the Proceeds of Crime Act 2002 to: make amendments consequential on the unexplained wealth changes; expand information sharing arrangements with state, territory and foreign authorities; and to make technical amendments.