Section 22
Proceeds of unlicensed moneylending
ActIn forceProvision 22 of 94
Section 22
(1)
In this Part, property is proceeds of unlicensed moneylending if it is wholly or partly derived or realised, whether directly or indirectly, from a contravention of section 5(1).
(2)
Property becomes proceeds of unlicensed moneylending if —
(a)
it is wholly or partly derived or realised from a dealing with or disposal of proceeds of unlicensed moneylending; or
(b)
it is wholly or partly acquired using proceeds of unlicensed moneylending,including by virtue of a previous application of this subsection.
(3)
Property remains proceeds of unlicensed moneylending even if —
(a)
it is credited to an account; or
(b)
it is dealt with or disposed of.[15B