Tax Collection and Management (Wales) Act 2016 section 186

Proceeds of crime

Section 186 amends the Proceeds of Crime Act 2002 to integrate the Welsh Revenue Authority into the UK's proceeds of crime framework, ensuring that WRA investigators can participate in financial crime investigations and that proper compensation arrangements apply.

• The Proceeds of Crime Act 2002 is amended so that where compensation is payable following a confiscation investigation, the Welsh Revenue Authority is responsible for paying compensation in cases involving its own investigators.
• The Welsh Ministers are given the power, by order, to extend references to "accredited financial investigators" in the Proceeds of Crime Act to include persons exercising functions of the Welsh Revenue Authority who meet a specified description.
• Any such order made by the Welsh Ministers is subject to the negative procedure in the National Assembly for Wales (now the Senedd), meaning it takes effect unless the Assembly resolves to annul it.
• Corresponding amendments are made to the compensation and order-making provisions of the 2002 Act to accommodate the new Welsh Revenue Authority role.

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