(1) A person who knowingly contravenes a restraining order by disposing of, or otherwise dealing with property that is subject to the restraining order commits an indictable offence punishable upon conviction by—
(a) a fine of $500,000 or imprisonment for a period of 5 years or both, in the case of a natural person; or
(b) a fine of $1 million, in the case of a body corporate.
(2) Where a restraining order is made against property and the property is disposed of, or otherwise dealt with, in contravention of the restraining order, and the disposition or dealing was not for sufficient consideration or not in favour of a person who acted in good faith and without notice, the Director of Public Prosecutions may apply to the Court that made the restraining order for an order that the disposition or dealing be set aside.
(3) Where the Director of Public Prosecutions makes an application under subsection (2) in relation to a disposition or dealing, the Court may—
(a) set aside the disposition or dealing as from the day on which the disposition or dealing took place; or
(b) set aside the disposition or dealing as from the day of the order under this subsection and declare the respective rights of any persons who acquired interests in the property on, or after the day on which the disposition or dealing took place, and before the day of the order under this subsection.