(1) Where an account freezing order has effect, an application for the forfeiture of money held in the frozen account may be made to the Court by a police officer or financial investigator of the Financial Intelligence Authority.
(2) The Court may order the forfeiture of the money or any part of the money if satisfied that the money or part of the money—
(a) is recoverable property; or
(b) is intended by a person for use in criminal conduct.
(3) In the case of recoverable property which belongs to joint tenants, one of whom is an excepted joint owner, an order the Court may not apply to so much of it as the Court thinks is attributable to the excepted joint owner's share.
(4) Where an application is made under subsection (1), an account freezing order continues to have effect until the time specified in the order.
(5) Where money held in a frozen account is ordered to be forfeited under this section—
(a) the financial institution with which the frozen account is maintained shall transfer that amount of money into the Fund; and
(b) immediately after the transfer under paragraph (a) has been made, the account freezing order ceases to have effect.
(Inserted by Act 18 of 2023)