A person who claims that any cryptoassets detained under this Part belong to the person may apply for some or all of the cryptoassets to be released.
An application under subsection (1) is to be made—
in England and Wales or Northern Ireland, to a magistrates' court;
in Scotland, to the sheriff.
The application may be made in the course of proceedings under section 303Z32 or 303Z41 or at any other time.
The court or sheriff may order the cryptoassets to which the application relates to be released to the applicant if it appears to the court or sheriff that—
the applicant was deprived of the cryptoassets to which the application relates, or of property which they represent, by unlawful conduct,
the cryptoassets the applicant was deprived of were not, immediately before the applicant was deprived of them, recoverable property, and
the cryptoassets belong to the applicant.
If subsection (6) applies, the court or sheriff may order the cryptoassets to which the application relates to be released to the applicant or to the person from whom they were seized.
This subsection applies where—
the applicant is not the person from whom the cryptoassets to which the application relates were seized,
it appears to the court or sheriff that those cryptoassets belong to the applicant,
the court or sheriff is satisfied that the release condition is met in relation to those cryptoassets, and
no objection to the making of an order under subsection (5) has been made by the person from whom those cryptoassets were seized.
The release condition is met—
if the conditions in Chapter 3C for the detention of the cryptoassets are no longer met, or
in relation to cryptoassets which are subject to an application for forfeiture under section 303Z41, if the court or sheriff decides not to make an order under that section in relation to the cryptoassets.