Regulatory Alerts2012-05-01
Proceeds of Criminal Conduct (Designated Countries and Territories) Order, 1999
The Governor in Council of the Virgin Islands issued this Order to designate specific countries and territories for the enforcement of external confiscation orders under the Proceeds of Criminal Conduct Act, 1997. The Order modifies the primary Act to facilitate cross-border recovery by establishing procedures for proving foreign court orders, admitting certificates from designated authorities as evidence, and defining the appropriate authorities for each jurisdiction. It further regulates the satisfaction of confiscation orders through currency conversion rules and allows for restraint and charging orders to secure assets pending proceedings in designated countries.
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