Government Chief Whip announces details of the powers of the new Corruption Assets Bureau
The Government Chief Whip and Minister of State at the Department of the Taoiseach, Ms. Mary Hanafin, T.D., today announced details of the powers of the new Corruption Assets Bureau which was promised by the Taoiseach in his Fianna Fáil Ard Fheis speech earlier this year.
In a statement, Minister Hanafin said:-
The Corruption Assets Bureau will be a statutory body specifically dedicated to tracing and recovering the proceeds of corruption. It will have five important new powers which are not contained in any existing legislation.
Firstly , the proposed new legislation will specifically empower a member of the Garda Síochána not below the rank of Chief Superintendent - acting as an officer of the Corruption Assets Bureau - to form an opinion based in whole or in part on the Report of a Tribunal of Inquiry established under the Tribunals of Inquiry (Evidence) Act, 1921 - 2002.
As the law now stands the Report of a Tribunal of Inquiry is, in the words of the Supreme Court, sterile and of no legal effect. The Act will permit a member of the Garda Síochána not below the rank of Chief Superintendent to form an opinion based in whole or in part on the Report of a Tribunal of Inquiry, whether the Tribunal reported before or after the passing of the legislation.
Under the new legislation, when a Tribunal reports, if, in the opinion of the Tribunal, persons received or gave corrupt payments, or received benefits as a result of corrupt practices in which they participated a Chief Superintendent acting as an officer of the Corruption Assets Bureau can go to the High Court and obtain freezing orders in respect of assets corruptly obtained or whose value has been corruptly enhanced.
Secondly , the proposed new legislation will empower the High Court to appoint Inspectors to the affairs of an individual or a company whose task will be to trace assets - assets corruptly received or assets whose value were corruptly enhanced - through acquisitions and disposals and to report to the High Court on the current value of assets obtained with assets/funds which represent the direct or indirect proceeds of corruption.
Thirdly , the High Court will be given specific statutory power to adjust the value of assets corruptly received into current day values. For example, if a person corruptly received £1,000 in 1960 and bought a house with that money the High Court will be entitled to order that the current day value of the house be frozen or forfeited.
Fourthly , the Proceeds of Crime Act, 1976 applies to property which directly or indirectly represents the proceeds of crime. The proposed legislation will extend that definition to include reference to property whose value was corruptly enhanced.
Fifthly , the proceeds of corruption obtained through the Corruption Assets Bureau will be held for the benefit of the Irish people. In this way we will restore the benefits wrongly taken from the Irish people through corruption of those engaged in public service or holding elected office.
ENDS