Terrorism (Suppression of Financing) Act 2002 · 2020 Revised Edition · Part 4 · Seizure, Freezing and Confiscationof Terrorist Property
16. Power to manage
Feedback & supportThe power to manage or otherwise deal with property under section 15 includes —
property
“property” means —(a)assets of every kind, whether tangible or intangible, movable or immovable, however acquired; and(b)legal documents or instruments in any form, including electronic or digital, evidencing title to, or interest in, such assets, including, but not limited to, bank credits, travellers cheques, bank cheques, money orders, shares, securities, bonds, drafts and letters of credit;
in the case of perishable or rapidly depreciating property, the power to sell that property; and
in the case of property that has little or no value, the power to destroy that property.
Before a person appointed under section 15 destroys property mentioned in subsection (1)(b), the person must apply to a Judge for a destruction order.
Before making a destruction order in relation to any property, a Judge must require notice in accordance with subsection (4) to be given to, and may hear, any person who, in the opinion of the Judge, appears to have a valid interest in the property.
A notice under subsection (3) must be given in the manner that the Judge directs or as provided in the Rules of Court.
A Judge may order that property be destroyed if the Judge is satisfied that the property has little or no financial or other value.