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47 In section 370 (account monitoring orders), in subsection (1A), at the end
insert “, a detained property investigation or a frozen funds investigation”.

48 In section 375 (account monitoring orders: supplementary), for subsection
(4) substitute—

(4) 5An application to discharge or vary an account monitoring order
need not be made by the same appropriate officer that applied for the
order (but must be made by an appropriate officer of the same
description).

(4A) If the application for the order was, by virtue of an order under
10section 453, made by an accredited financial investigator of a
particular description, the reference in subsection (4) to an
appropriate officer of the same description is to another accredited
financial investigator of that description.”

49 (1) Section 375A (evidence overseas) is amended as follows.

(2) 15In subsection (1), after “detained cash investigation” insert “, a detained
property investigation, a frozen funds investigation”.

(3) In subsection (5), after paragraph (b) insert—

(ba) in relation to an application or request made for the purposes
of a detained property investigation, evidence as to a matter
20described in section 341(3B)(a) or (b);

(bb) in relation to an application or request made for the purposes
of a frozen funds investigation, evidence as to a matter
described in section 341(3C)(a) or (b);”.

50 In section 375B (evidence overseas: restrictions on use), in subsection (3),
25after paragraph (b) insert—

(ba) if the request was made for the purposes of a detained
property investigation, proceedings under Chapter 3A of
Part 5 of this Act arising out of the investigation;

(bb) if the request was made for the purposes of a frozen funds
30investigation, proceedings under Chapter 3B of Part 5 of this
Act arising out of the investigation;”.

51 (1) Section 377 (code of practice of Secretary of State) is amended as follows.

(2) In subsection (1) after paragraph (f) insert—

(g) Financial Conduct Authority officers.”

(3) 35After subsection (2) insert—

(2A) The Secretary of State must also consult the Treasury about the draft
in its application to functions that Financial Conduct Authority
officers have under this Chapter.”

(4) In subsection (3) for “subsection (2)” insert “subsections (2) and (2A)”.

52 40In section 378 (officers), after subsection (3B) insert—

(3C) In relation to a detained property investigation these are appropriate
officers—

(a) a constable;

(b) an SFO officer;

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(c) an accredited financial investigator who falls within a
description specified in an order made for the purposes of
this paragraph by the Secretary of State under section 453;

(d) an officer of Revenue and Customs.

(3D) 5In relation to a detained property investigation these are senior
appropriate officers—

(a) a police officer who is not below the rank of inspector;

(b) the Director of the Serious Fraud Office;

(c) an accredited financial investigator who falls within a
10description specified in an order made for the purposes of
this paragraph by the Secretary of State under section 453;

(d) an officer of Revenue and Customs who is not below such
grade as is designated by the Commissioners for Her
Majesty’s Revenue and Customs as equivalent to the police
15rank of inspector.

(3E) In relation to a frozen funds investigation these are appropriate
officers—

(a) a constable;

(b) an SFO officer;

(c) 20an accredited financial investigator who falls within a
description specified in an order made for the purposes of
this paragraph by the Secretary of State under section 453;

(d) an officer of Revenue and Customs.

(3F) In relation to a frozen funds investigation these are senior
25appropriate officers—

(a) a police officer who is not below the rank of inspector;

(b) the Director of the Serious Fraud Office;

(c) an accredited financial investigator who falls within a
description specified in an order made for the purposes of
30this paragraph by the Secretary of State under section 453;

(d) an officer of Revenue and Customs who is not below such
grade as is designated by the Commissioners for Her
Majesty’s Revenue and Customs as equivalent to the police
rank of inspector.”

53 35In section 380 (production orders), in subsections (2) and (3)(b), for “or a
detained cash investigation” substitute “, a detained cash investigation, a
detained property investigation or a frozen funds investigation”.

54 In section 381 (requirements for making of production order), in subsection
(2), after paragraph (bb) insert—

(bc) 40in the case of a detained property investigation into the
derivation of property, the property the application for the
order specifies as being subject to the investigation, or a part
of it, is recoverable property;

(bd) in the case of a detained property investigation into the
45intended use of property, the property the application for the
order specifies as being subject to the investigation, or a part
of it, is intended by any person to be used in unlawful
conduct;

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(be) in the case of a frozen funds investigation into the derivation
of money held in an account in relation to which an account
freezing order made under section 303Z3 has effect (a “frozen
account”), the property the application for the order specifies
5as being subject to the investigation, or a part of it, is
recoverable property;

(bf) in the case of a frozen funds investigation into the intended
use of money held in a frozen account, the property the
application for the order specifies as being subject to the
10investigation, or a part of it, is intended by any person to be
used in unlawful conduct;”.

55 In section 385 (Government departments), in subsection (4)(b), for “or a
detained cash investigation” substitute “, a detained cash investigation, a
detained property investigation or a frozen funds investigation”.

56 15In section 386 (production orders: supplementary), in subsection (3)(b), for
“or a detained cash investigation” substitute “, a detained cash investigation,
a detained property investigation or a frozen funds investigation”.

57 In section 387 (search warrants), in subsections (2) and (3)(b), for “or a
detained cash investigation” substitute “, a detained cash investigation, a
20detained property investigation or a frozen funds investigation”.

58 (1) Section 388 (requirements where production order not available) is
amended as follows.

(2) In subsection (2), after paragraph (bb) insert—

(bc) in the case of a detained property investigation into the
25derivation of property, the property specified in the
application for the warrant, or a part of it, is recoverable
property;

(bd) in the case of a detained property investigation into the
intended use of property, the property specified in the
30application for the warrant, or a part of it, is intended by any
person to be used in unlawful conduct;

(be) in the case of a frozen funds investigation into the derivation
of money held in an account in relation to which an account
freezing order made under section 303Z3 has effect (a “frozen
35account”), the property specified in the application for the
warrant, or a part of it, is recoverable property;

(bf) in the case of a frozen funds investigation into the intended
use of money held in a frozen account, the property specified
in the application for the warrant, or a part of it, is intended
40by any person to be used in unlawful conduct;”.

(3) In subsection (5)(a), after “(7B)” insert “, (7C), (7D), (7E), (7F)”.

(4) After subsection (7B) insert—

(7C) In the case of a detained property investigation into the derivation of
property, material falls within this subsection if it cannot be
45identified at the time of the application but it—

(a) relates to the property specified in the application, the
question whether the property, or a part of it, is recoverable
property or any other question as to its derivation, and

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(b) is likely to be of substantial value (whether or not by itself) to
the investigation for the purposes of which the warrant is
sought.

(7D) In the case of a detained property investigation into the intended use
5of property, material falls within this subsection if it cannot be
identified at the time of the application but it—

(a) relates to the property specified in the application or the
question whether the property, or a part of it, is intended by
any person to be used in unlawful conduct, and

(b) 10is likely to be of substantial value (whether or not by itself) to
the investigation for the purposes of which the warrant is
sought.

(7E) In the case of a frozen funds investigation into the derivation of
money held in a frozen account, material falls within this subsection
15if it cannot be identified at the time of the application but it—

(a) relates to the property specified in the application, the
question whether the property, or a part of it, is recoverable
property or any other question as to its derivation, and

(b) is likely to be of substantial value (whether or not by itself) to
20the investigation for the purposes of which the warrant is
sought.

(7F) In the case of a frozen funds investigation into the intended use of
money held in a frozen account, material falls within this subsection
if it cannot be identified at the time of the application but it—

(a) 25relates to the property specified in the application or the
question whether the property, or a part of it, is intended by
any person to be used in unlawful conduct, and

(b) is likely to be of substantial value (whether or not by itself) to
the investigation for the purposes of which the warrant is
30sought.”

59 (1) Section 390 (further provisions: confiscation, civil recovery, detained cash
and money laundering) is amended as follows.

(2) In the heading, after “detained cash” insert “, detained property, frozen
funds”.

(3) 35In subsection (1), after “detained cash investigations” insert “, detained
property investigations, frozen funds investigations”.

(4) In subsections (5), (6) and (7), for “or a detained cash investigation”
substitute “, a detained cash investigation, a detained property investigation
or a frozen funds investigation”.

60 (1) 40In section 391 (disclosure orders), in subsection (2), after “detained cash
investigation” insert “, a detained property investigation or a frozen funds
investigation”.

61 In section 397 (customer information orders), in subsection (1A), at the end
insert “, a detained property investigation or a frozen funds investigation”.

62 45In section 404 (account monitoring orders), in subsection (1A), at the end
insert “, a detained property investigation or a frozen funds investigation”.

63 (1) Section 408A (evidence overseas) is amended as follows.

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(2) In subsection (1), for “or a detained cash investigation” substitute “, a
detained cash investigation, a detained property investigation or a frozen
funds investigation”.

(3) In subsection (5), after paragraph (b) insert—

(c) 5in relation to an application or request made for the purposes
of a detained property investigation, evidence as to a matter
described in section 341(3B)(a) or (b);

(d) in relation to an application or request made for the purposes
of a frozen funds investigation, evidence as to a matter
10described in section 341(3C)(a) or (b);”.

64 In section 408B (evidence overseas: restrictions on use), in subsection (3),
after paragraph (b) insert—

(c) if the request was made for the purposes of a detained
property investigation, proceedings under Chapter 3A of
15Part 5 of this Act arising out of the investigation;

(d) if the request was made for the purposes of a frozen funds
investigation, proceedings under Chapter 3B of Part 5 of this
Act arising out of the investigation;”.

65 In section 412 (interpretation), in paragraph (b) of the definitions of
20“appropriate person” and “proper person”, for “or a detained cash
investigation” substitute “, a detained cash investigation, a detained
property investigation or a frozen funds investigation”.

66 In the title of Chapter 4 of Part 8, before “Interpretation” insert
“Supplementary and”.

67 25Before section 413 (in Chapter 4 of Part 8), insert—

412A Power to vary monetary amounts

(1) In order to take account of changes in the value of money, the
Secretary of State may by regulations substitute another sum for the
sum for the time being specified in—

(a) 30section 362B(2)(b) (minimum value of property for purposes
of making unexplained wealth order in England and Wales
or Northern Ireland), and

(b) section 396B(2)(b) (minimum value of property for purposes
of making unexplained wealth order in Scotland).

(2) 35The Secretary of State must consult the Department of Justice in
Northern Ireland and the Scottish Ministers before making
regulations under subsection (1).”

68 (1) Section 416 (Part 8: other interpretative provisions) is amended as follows.

(2) In subsection (1), after the entry for “detained cash investigation” insert—

  • 40“detained property investigation: section 341(3B)

  • frozen funds investigation: section 341(3C)”.

(3) In subsection (2), at the appropriate places in the list insert—

  • “enforcement authority: section 362A(7)”;

  • “interim freezing order: section 362I(3)”;

  • 45“unexplained wealth order: section 362A(3)”.

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(4) In subsection (3), at the appropriate places in the list insert—

  • “interim freezing order: section 396I(3)”;

  • “unexplained wealth order: section 396A(3)”.

(5) After subsection (3A) insert—

(3B) 5In relation to an order in England and Wales or Northern Ireland that
is an interim freezing order or an unexplained wealth order,
references to the enforcement authority are to the enforcement
authority that is seeking, or (as the case may be) has obtained, the
order.”

(6) 10In subsection (7), after “Recovery order,” insert “property freezing order”.”

69 In section 450 (pseudonyms: Scotland), in subsection (1)(a), for “or a
detained cash investigation” substitute “, a detained cash investigation, a
detained property investigation or a frozen funds investigation”.

70 In section 453A (certain offences in relation to financial investigators), in
15subsection (5), at the end of paragraph (d) (before the “or”) insert—

(da) section 303C (powers to search for a listed asset);

(db) section 303J (powers to seize property);

(dc) section 303K (powers to detain seized property);”.

71 (1) Section 459 (orders and regulations) is amended as follows.

(2) 20In subsection (3A), at the end insert “or regulations under section 131ZA(7)”.

(3) In subsection (4), after paragraph (a) insert—

(aza) regulations under section 303B(2), 303G(4), 303W(9), 303Y(2),
303Z8(2) or 303Z18(9);”.

(4) In subsection (5), in paragraph (a)—

(a) 25after “other than” insert “regulations under section 131ZA(7) or”;

(b) after “293(4),” insert “303H(4),”.

(5) In subsection (6)(b), after “293(4),” insert “303H(4),”.

(6) After subsection (6) insert—

(6ZA) No regulations may be made by the Scottish Ministers under section
30131ZA(7) unless a draft of the regulations has been laid before and
approved by a resolution of the Scottish Parliament.

(6ZB) No regulations may be made by the Secretary of State under section
303B(2), 303G(4), 303W(9), 303Y(2), 303Z8(2) or 303Z18(9) unless a
draft of the regulations has been laid before Parliament and
35approved by a resolution of each House.”

(7) In subsection (6A), after “302(7B)” insert “or of regulations under section
303W(9) or 303Z18(9)”.

(8) In subsection (7A)—

(a) after “302(7B),” insert “303I(4),”;

(b) 40at the end insert “or regulations under section 303W(9) or 303Z18(9)”.

(9) In subsection (7B), after “302(7B),” insert “303I(4),”.

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(10) After subsection (7B) insert—

(7BA) No regulations may be made by the Department of Justice under
section 303W(9) or 303Z18(9) unless a draft of the regulations has
been laid before, and approved by a resolution of, the Northern
5Ireland Assembly.”

(11) In subsection (7D), after “(7B)” insert “, (7BA)”.

72 In section 460 (finance), in subsection (3)—

(a) omit “and” at the end of paragraph (a);

(b) after paragraph (b) insert , and

(c) 10any sums received by the Financial Conduct
Authority in consequence of this Act are to be paid
into the Consolidated Fund.”