Where an interim freezing order in respect of any property is discharged, the person to whom the property belongs may make an application to the High Court for the payment of compensation.
The application must be made within the period of three months beginning with the discharge of the interim freezing order.
The court may order compensation to be paid to the applicant only if satisfied that—
the applicant has suffered loss as a result of the making of the interim freezing order,
there has been a serious default on the part of the enforcement authority that applied for the order, and
the order would not have been made had the default not occurred.
Where the court orders the payment of compensation—
the compensation is payable by the enforcement authority that applied for the interim freezing order, and
the amount of compensation to be paid is the amount that the court thinks reasonable, having regard to the loss suffered and any other relevant circumstances.