(1) Where upon the making of an application for a forfeiture order or a confiscation order the Court declines to make such an order, the Court shall on the application of a person who held realisable property order compensation to be paid to him or her if the requirements of subsection (2) are fulfilled.
(2) The Court shall order compensation to be paid if the Court is satisfied —
(a) that there has been some serious default in the investigation or conduct of the matter and that, but for that default, the application would not have been instituted or continued; and
(b) that the applicant has suffered substantial loss in consequence of anything done in relation to the property by or under an order of the Court under section 31.
(3) The amount of compensation to be paid under this section is such amount as the Court thinks just in all the circumstances.
(4) Compensation payable under this section must be paid out of the Consolidated Fund.