Tuesday, 19 March 2024

Bills

Confiscation Amendment (Unexplained Wealth) Bill 2024

Introduction and first reading

Anthony CARBINES (Ivanhoe – Minister for Police, Minister for Crime Prevention, Minister for Racing) (14:48): I move:

That I introduce a bill for an act to amend the Confiscation Act 1997 in relation to unexplained wealth and for other purposes.

Motion agreed to.

James NEWBURY (Brighton) (14:48): I seek a brief explanation of the bill.

Anthony CARBINES (Ivanhoe – Minister for Police, Minister for Crime Prevention, Minister for Racing) (14:48): Thanks very much, Member for Brighton. The brief explanation is as follows: the Confiscation Amendment (Unexplained Wealth) Bill 2024 amends the Confiscation Act 1997 to introduce another unexplained wealth pathway, which will enable the department of prosecutions to apply for an unexplained wealth order if there are reasonable grounds to suspect a person’s wealth exceeds their lawfully acquired wealth by at least $200,000. It also broadens the definition of ‘wealth’ to include wealth that has been consumed or expended.

Read first time.

Ordered to be read second time tomorrow.