(1) After section 27 of the Limitation Act 1980 (c. 58) there is inserted -
"27A Actions for recovery of property obtained through unlawful conduct etc.
(1) None of the time limits given in the preceding provisions of this Act applies to any proceedings under Chapter 2 of Part 5 of the Proceeds of Crime Act 2002 (civil recovery of proceeds of unlawful conduct).
(2) Proceedings under that Chapter for a recovery order in respect of any recoverable property shall not be brought after the expiration of the period of twelve years from the date on which the Director's cause of action accrued.
(3) Proceedings under that Chapter are brought when -
(a) a claim form is issued, or
(b) an application is made for an interim receiving order,
whichever is the earlier.
(4) The Director's cause of action accrues in respect of any recoverable property -
(a) in the case of proceedings for a recovery order in respect of property obtained through unlawful conduct, when the property is so obtained,
(b) in t
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