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Version status: Partly in force | Document consolidation status: Updated to reflect all known changes
Version date: 26 April 2024 - onwards
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303Z48. Realisation or destruction of forfeited cryptoassets etc

(1) This section applies where any cryptoasset or other item of property is forfeited under this Chapter.

(2) An enforcement officer must -

(a) realise the property, or

(b) make arrangements for its realisation.

This is subject to subsections (3) to (5).

(3) The property is not to be realised -

(a) before the end of the period within which an appeal may be made (whether under section 303Z47 or otherwise), or

(b) if an appeal is made within that period, before the appeal is determined or otherwise disposed of.

(4) The realisation of property under subsection (2) must be carried out, so far as practicable, in the manner best calculated to maximise the amount obtained for the property.

(5) Where an enforcement officer is satisfied that -

(a) it is not reasonably practicable to realise any cryptoasset, or

(b) there are reasonable grounds to believe that the realisation of any cryptoasset would be contrary to the public interest, the enforcement officer may destroy the cryptoasset.

(6) But

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