Schedules Schedule 9 – Cryptoassets: civil recovery Part 2 – Consequential and other amendments of the Proceeds of Crime Act 2002
Paragraph 6 of Schedule 9 to the Act amends Part 5 of POCA to make various consequential amendments to reflect the insertion of new Chapter 3C to 3F into POCA.
	Sub-paragraph (5) of Paragraph62 inserts new section 303Z17A into Part 5 of POCA, to make provision for the release of money frozen under Chapter 3B to its true owner. Two cases are provided for. New subsection (4) relates to a person who claims that some or all of the funds rightfully belong to them, and they were deprived of them through unlawful conduct. An example of this would be a person who claims that the funds were stolen from them. If the court is satisfied, it may order the release of the funds to that individual.
	New subsection (6) relates to the case of any other true owner who is not the person from whom the money was seized. Here, if the court is satisfied, the funds may be released – but only if the person from whom they were seized does not object. That proviso is intended to prevent the court from becoming involved in a complicated ownership dispute between the person from whom the money was seized and the rightful owner of those funds. Unlike subsection (4) the court will have to be satisfied that the funds are not recoverable property or intended for use in unlawful conduct before it can release to a claimed owner.
	Paragraph 8 amends Part 8 of POCA to make various consequential amendments to reflect the insertion of new Chapter 3C to 3F into POCA. These amendments introduce the concept of a "cryptoassets investigation" – defined in new subsection (3D) of section 341 - as the basis for making production orders; search and seizure warrants; and account monitoring orders available to support the new proceedings.