(1) The provisions of this Part relating to property which has been stolen apply -

(a) whether the stealing occurred before or after the commencement of this Act, and

(b) to stealing outside the State if the stealing constituted an offence where and at the time when the property was stolen,

and references to stolen property shall be construed accordingly.

(2) For the purposes of those provisions references to stolen property include, in addition to the property originally stolen and parts of it (whether in their original state or not) -

(a) any property which directly or indirectly represents, or has at any time represented, the stolen property in the hands of the person who stole the property as being the proceeds of any disposal or realisation of the whole or part of the stolen property or of property so representing the stolen property, and