Article 3 *
IDENTIFICATION, TRACING, FREEZING, SEIZURE AND FORFEITURE OF THE PROCEEDS OF ILLICIT TRAFFIC
1. The Parties undertake to prevent and repress the acquisition, possession, transfer or laundering of the proceeds derived from or used in the illicit traffic. To that end, they shall:
(a) Adopt national legislative and administrative measures to
facilitate the identification, tracing, freezing, seizure and forfeiture of proceeds;
(b)
Facilitate effective co-ordinated action at the national level;
(c) Provide each other with appropriate assistance.
2. Subject to its constitutional limitations, each Party shall treat as a punishable offence the acquisition, possession, transfer or laundering of proceeds with the knowledge that such proceeds were obtained or derived directly or indirectly from the illicit traffic, irrespective of where such traffic occurred.
3.
Having due regard to its constitutional, legal and administrative systems, each Party shall:
(a) Authorize a court of criminal or civil jurisdiction or other appropriate authority, upon application on its own behalf or on behalf of another Party, to issue an order to freeze and seize proceeds if the court or appropriate authority is satisfied that a punishable offence referred to in paragraph 2 of this article has been committed in any jurisdiction, and when the proceeds are within its own jurisdiction. Freezing or seizing orders:
(i)
(ii)
(iii)
(iv)
(v)
Shall prohibit the transfer, conversion, disposition or movement of the proceeds;
May be made prior to the institution of formal charges but subject to a reasonable time limit;
May be modified where circumstances so require upon motion brought by any person having an interest in the proceeds;
May provide for the appointment of an administrator or trustee authorized to sell, control or manage the proceeds;
May be issued notwithstanding that the proceeds may be intermingled with other property or assets acquired from other legitimate sources;
* Original text as drafted by the Secretariat and submitted to Governments
for comment.