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Version status: Partly in force | Document consolidation status: Updated to reflect all known changes
Version date: 7 November 2024 - onwards
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303Z54. Detained cryptoassets: conversion

(1) Subsection (2) applies while any cryptoassets are detained in pursuance of an order under section 303Z30 or 303Z32 (including where cryptoassets are subject to forfeiture proceedings).

(2) A person within subsection (3) may apply to the relevant court for an order requiring all of the cryptoassets detained pursuant to the order to be converted into money.

(3) The following persons are within this subsection -

(a) an enforcement officer;

(b) a person from whom the cryptoassets were seized.

(4) In deciding whether to make an order under this section, the court must have regard to whether the cryptoassets (as a whole) are likely to suffer a significant loss in value during the period before they are released or forfeited (including the period during which an appeal against an order for forfeiture may be made).

(5) Before making an order under this section the court must give an opportunity to be heard to -

(a) the parties to the proceedings, and

(b) any other person who may be affecte

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