Summary

Gives effect to the National Cooperative Scheme on Unexplained Wealth by amending the:

to: extend the scope of Commonwealth unexplained wealth restraining orders and unexplained wealth orders to territory and state offences; enable state and territory law enforcement entities to apply for production orders and issue notices to financial institutions; ensure the continued operation of state and territory confiscation regimes; provide for the equitable sharing of recovered proceeds between Commonwealth, state, territory and foreign law enforcement entities; and provide for a review after the fourth anniversary of the commencement of the national scheme; to facilitate information-sharing in relation to unexplained wealth investigations and proceedings between Commonwealth, territory and state law enforcement agencies; and Proceeds of Crime Regulations 2002 to clarify that the definition of ‘unexplained wealth legislation’ extends to particular provisions of the (NSW) and the (NT).