(1) Where the Court makes a restraining order, it may, on the application of the Director of Public Prosecutions, whether as part of the application for the restraining order or at any time afterwards, appoint a management receiver in respect of any realizable property to which the restraining order applies.
(2) The Court may, by order, give the management receiver in relation to realizable property to which the restraining order applies one or more of the following powers—
(a) the power to take possession of the property;
(b) the power to manage or otherwise deal with the property;
(c) the power to start, carry on or defend any legal proceedings in respect of the property;
(d) the power to realize so much of the property as is necessary to meet his or her remuneration and expenses; and
(e) the power to exercise other powers as the Court considers it appropriate to confer on him or her for the purpose of exercising his or her functions.
(3) The Court may require a person having possession of property in respect of which a management receiver is appointed under this section to give possession of it to the management receiver.
(4) The Court—
(a) may order a person holding an interest in any realizable property to which the restraint order applies to make to the management receiver a payment as the Court specifies in respect of a beneficial interest held by the defendant or the recipient of a tainted gift; and
(b) may, on the payment being made under paragraph (a), by order transfer, grant or extinguish an interest in the property.
(5) For the purposes of this section, managing or otherwise dealing with or disposing property includes—
(a) selling the property or any part or interest in the property;
(b) carrying on or arranging for another person to carry on any trade or business the assets of which are or are part of the property; or
(c) incurring capital expenditure in respect of the property.
(6) The Court shall not in respect of any property give the management receiver the powers specified under subsection (2)(b) or (d) or exercise the powers conferred under subsection (3) or (4) unless a reasonable opportunity has been given for persons holding an interest in the property to make a representation to the Court.
(7) Subsection (6), so far as it relates to the power under subsection (2)(b), does not apply to property which—
(a) is perishable; or
(b) ought to be disposed of before its value diminishes.
(Inserted by Act 18 of 2023)