ACT No. LXVIII of 2021 AN ACT to amend the Proceeds of Crime Act, Cap. 621.

I assent.

(L.S.)

GEORGE VELLA

President

18th December, 2021

ACT No. LXVIII of 2021

AN ACT to amend the Proceeds of Crime Act, Cap. 621.

BE IT ENACTED by the President, by and with the advice and

consent of the House of Representatives, in this present Parliament

assembled, and by the authority of the same as follows:-

The short title of this Act is the Proceeds of Crime

(Amendment) Act, 2021 and this Act shall be read and construed as

one with the Proceeds of Crime Act, hereinafter referred to as "the

principal Act".

In the Maltese version, in sub-article (1) of article 16 of the

principal Act, the words "din l-informazzjoni ma għandhiex" shall be

substituted by the words "din l-informazzjoni għandha".

Article 35 of the principal Act shall be amended as follows

(a) immediately after paragraph (b) of sub-article (11)

thereof there shall be added the following new paragraph

"(c) The administrator appointed under this article

shall have the right to such payment as the Criminal Court

may, in its discretion, be of the opinion that is due to the

administrator, which payment shall be effected from the

moneys of the going concern or body corporate. In no

event, however, may such payments be made from funds

where there is knowledge or suspicion that the funds are

derived from a criminal activity or are funds which one has

cause to believe have been laundered

Provided that in this paragraph, unless the

context otherwise requires

"criminal activity" shall have the same meaning as

assigned to it in article 2 of the Prevention of Money

Laundering Act;

"laundered" shall have the meaning of "money

laundering" as defined in article 2 of the Prevention of

Money Laundering Act."; and

(b) immediately after sub-article (11) thereof there shall

be added the following new sub-articles

"(11A) An administrator appointed in accordance with

sub-article (11) shall

(a) with immediate effect administer the

commercial going concern or body corporate, and

the ordinary administration of all business and

activities including the management of any outlets,

restaurants or other activities and shall acquire, sell,

negotiate and effect all necessary acts of

management and ordinary administration and to

take all necessary measures for the preservation of

the assets of the commercial going concern or body

corporate;

(b) within one (1) month from the service

of the appointment decree, prepare a report,

confirmed on oath, indicating the commercial

activity of the commercial going concern or body

corporate including the assets and liabilities and the

actual value of the commercial going concern or

body corporate. Following the initial report, the

administrator shall prepare and file monthly

reports;

(c) submit every administration decision of

an extraordinary nature for the decision of the court;

and

(d) open and manage a bank account with a

financial institution on behalf of such commercial

going concern or body corporate.

(11B) When the court appoints an administrator in

accordance with sub-article (11), a copy of this decree

shall be immediately served on the Director and shall

become operative and binding when it is made and the

Director shall cause a notice thereof to be published

without delay in the Gazette.".

In sub-article (1) of article 43 of the principal Act the words

"such property through non-conviction based confiscation" shall be

substituted by the words "such property through a conviction based

confiscation".

Passed by the House of Representatives at Sitting No. 530 of the

14th December, 2021.

ANĠLU FARRUGIA

Speaker

RAYMOND SCICLUNA

Clerk of the House of Representatives

€0.36