Remedy
Start free

Section 303Z8: "The minimum amount"

Proceeds of Crime Act 2002 · 2002 c. 29View on legislation.gov.uk

Part 5: Civil recovery of the proceeds etc. of unlawful conduct — CHAPTER 3B: Forfeiture of money held in certain accounts

"The minimum amount" is £1,000.

The Secretary of State may by regulations amend the amount for the time being specified in subsection (1).

The Secretary of State must consult the Scottish Ministers and the Department of Justice before making regulations under subsection (2).

For the purposes of this Chapter the amount of any money held in an account maintained with a relevant financial institution in a currency other than sterling must be taken to be its sterling equivalent, calculated in accordance with the prevailing rate of exchange.

About this text

This legislation text comes from legislation.gov.uk. Contains public sector information licensed under the Open Government Licence v3.0. These source and reuse terms cover the legislation text, not Remedy's commentary.

Reuse reviewed 21 August 2026 under Open Government Licence v3.0.