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📜 Criminal Law Amendment (Criminal Property) Bill 2004

Assented toLABill 2868 April 2004

This Bill amends the Criminal Code to broaden money laundering laws to include possession of assets intended for use in an offence, regardless of whether they are proceeds of crime. It also clarifies when asset confiscation can mitigate sentencing under the Sentencing Act 1995.

Impact

This bill affects individuals and businesses who handle money or property, particularly those involved in or suspected of criminal activity. It matters because it expands the scope of money laundering offences and changes sentencing considerations related to asset confiscation.

Key Changes

["Expands money laundering laws to include assets intended for use in an offence, not just proceeds of crime.", "Clarifies that confiscation of assets is generally not a mitigating factor in sentencing, except when the offender facilitates the confiscation of property not derived from crime.", "Broadens the definition of 'offence' in relation to money laundering."]