Proceeds of Crime Amendment (Proceeds and Other Matters) Bill 2017

Type: Government
Portfolio: Justice
Originating house: House of Representatives
Status: Act
Parliament no: 45

Summary

Amends the Proceeds of Crime Act 2002 to: expand the unexplained wealth regime to cover wealth that is derived or realised, directly or indirectly, from certain offences; clarify that property becomes ‘proceeds’ or an ‘instrument’ where encumbrances, securities, liabilities or improvements on the property are funded using ‘proceeds’ or an ‘instrument’ of an offence; clarify that property will only be ‘lawfully acquired’ in situations where the property or wealth is not ‘proceeds’ or an ‘instrument’ of an offence; and provide that ‘improvements’ extends to additions to, altering, repairing, restoring, structuring, restructuring or any other change to property or wealth (whether or not it results in an increase in the value of the property or wealth).

Progress

House of Representatives
Introduced and read a first time	18 Oct 2017
Second reading moved	18 Oct 2017
Second reading debate	14 Feb 2018
Referred to Federation Chamber	14 Feb 2018
Second reading debate	15 Feb 2018
Second reading agreed to	15 Feb 2018
Reported from Federation Chamber	15 Feb 2018
Third reading agreed to	15 Feb 2018

Senate
Introduced and read a first time	15 Feb 2018
Second reading moved	15 Feb 2018
Second reading debate	22 Mar 2018
Second reading agreed to	22 Mar 2018
Third reading agreed to	22 Mar 2018


Finally passed both Houses	22 Mar 2018
Assent Act no: 21 Year: 2018	28 Mar 2018

Documents and transcripts

Text of bill

First reading

As passed by both Houses

Explanatory memoranda

Explanatory memorandum

Transcript of speeches

Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Notes

Considered by scrutiny committee (15/11/2017): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 13 of 2017
Referred to Committee (16/11/2017): Senate Legal and Constitutional Affairs Legislation Committee; Committee report (07/02/2018)
Considered by scrutiny committee (28/11/2017): Parliamentary Joint Committee on Human Rights; Report 1 of 2018
An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)

Helpful information

Text of bill

First reading: Text of the bill as introduced into the Parliament
Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.

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