Seized Property Management Act

Marginal note:Seized Property Proceeds Account established

• 13 (1) There is hereby established in the accounts of Canada an account to be known as the Seized Property Proceeds Account.

• Marginal note:Credits to Proceeds Account

  (2) There shall be paid into the Consolidated Revenue Fund and credited to the Proceeds Account

  • (a) the net proceeds, calculated in the prescribed manner, received from the disposition of any property referred to in any of subsections 4(1) to (3) that is forfeited to Her Majesty and disposed of by the Minister;

  • (b) amounts paid or recovered as a fine imposed pursuant to subsection 462.37(3) of the Criminal Code in relation to proceedings commenced at the instance of the Government of Canada; and

  • (c) subject to the regulations, amounts received from the governments of foreign states pursuant to agreements entered into pursuant to section 11.

• Marginal note:Charges to Proceeds Account

  (3) There shall be charged to the Proceeds Account

  • (a) such amounts as are approved by the Treasury Board and as are recovered by the Minister in respect of operating expenses incurred by the Minister in carrying out the purposes of this Act, other than expenses charged to the Working Capital Account pursuant to paragraph 12(2)(a);

  • (b) [Repealed, 2024, c. 15, s. 314]

  • (c) amounts paid pursuant to sections 10 and 11;

  • (d) amounts paid under section 5.6 of the Special Economic Measures Act; and

  • (e) amounts paid under section 4.4 of the Justice for Victims of Corrupt Foreign Officials Act (Sergei Magnitsky Law).