20 Jun 2018
House of Representatives
Gives effect to the National Cooperative Scheme on Unexplained Wealth by amending the:
Proceeds of Crime Act 2002 to: extend the scope of Commonwealth unexplained wealth restraining orders and unexplained wealth orders to territory and state offences; enable state and territory law enforcement entities to apply for production orders and issue notices to financial institutions; ensure the continued operation of state and territory confiscation regimes; provide for the equitable sharing of recovered proceeds between Commonwealth, state, territory and foreign law enforcement entities; and provide for a review after the fourth anniversary of the commencement of the national scheme;
Telecommunications (Interception and Access) Act 1979 to facilitate information-sharing in relation to unexplained wealth investigations and proceedings between Commonwealth, territory and state law enforcement agencies; and Proceeds of Crime Regulations 2002 to clarify that the definition of ‘unexplained wealth legislation’ extends to particular provisions of the
Criminal Assets Recovery Act 1990 (NSW) and the
Criminal Property Forfeiture Act (NT).