CONFIDENTIAL
XCC (87)69
Page
3
The Panel favoured the the money to pay the debt to the Crown. confiscation orders proposal which it considered to be logical, sensible and fairer. The Panel made the following points about the confiscation orders scheme:
(a) the Commissioner of Police and Commissioner of Customs and Excise should not be empowered to place restrictions on a suspect with regard to the disposal or dealing in any property as the Commissioner of the ICAC is empowered to do.
to do. Instead,
Instead, the Police or Customs should
should be required to apply to the court, ex parte, for an order to be made prevent a suspect
of his from disposing property. Application should also
also be
be made to the court to prevent some other person disposing of any property he may be holding on behalf of the suspect;
(b)
(こ)
(d)
to
be
the Commissioner of Police and Commissioner of Customs and Excise should not empowered to authorize an investigation
warrant as the empowered to
officer to search without a Commissioner of the ICAC is do. Instead the Commissioners should be required to apply for a search the normal way;
warrant in
new offence
under the proposed scheme, 3 would be created of assisting a person to launder the proceeds of drug trafficking. Banks and other financial institutions would be exempt from any liability for breach of contract if they passed on to the authorities the "suspicion" that any funds ΟΙ investments might be connected with drug trafficking. The Panel was concerned that there might be difficulties for banks and financial institutions in the requirement for them to report any suspicion that funds. or investments might be connected with drug tafficking. The Panel felt that this might affect
bank's reputation
for confidentiality with its clients and suggested that provisions should be added to protect banks volunteering information and requiring that their names should not be disclosed in court;
a
there should be provision for
compensation
to be made for a person whose transaction was delayed because of a bank's suspicion but whose money turned out to be legiti
legitimate;
CONFIDENTIAL