Rule 152: Release of assets remaining after search liabilities
Rule 152 addresses the assets or proceeds left after the specified section 250(1) liabilities have been discharged. The remainder must be returned or paid forthwith to the person from whose custody the assets were seized, in the presence of two respectable witnesses.
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Rule 152 - Release of remaining assets under section 250
Any assets or proceeds thereof which remain after the liabilities referred to in section 250(1) are discharged, shall be forthwith made over or paid to the person, from whose custody the assets were seized, in the presence of two respectable witnesses.
Rule breakdown
Identify the remaining assets or proceeds
The provision operates after the liabilities referred to in section 250(1) are discharged. Reconcile the seized assets, any proceeds, amounts applied and the remainder.
The parent section supplies the relevant liabilities and application framework; the rule should not be read as requiring immediate return before that framework is addressed.
Return or payment is required forthwith
The remaining assets or proceeds are made over or paid to the person from whose custody the assets were seized.
The text does not prescribe a separate number-of-days period. Preserve the liability-discharge and reconciliation records when following up the release.
Two witnesses and an accurate handover record
The return or payment occurs in the presence of two respectable witnesses. Record the items or amount received and reconcile them with the remaining balance.
If a discrepancy arises, keep the supporting lists and obtain advice on the applicable process rather than assuming an unstated remedy from this one-sentence rule.
Key takeaways
After specified liabilities are discharged
Identify the actual remainder.
Forthwith release
The rule requires return or payment without stating a separate day count.
Two respectable witnesses
The handover has a stated witness safeguard.
Practical checklist
- Reconcile assets, proceeds and liability discharge.
- Keep the handover and payment record.
- Check the remaining balance received.
Avoid
- Do not invent a fixed day count that the rule does not state.
FAQs
Does this rule cover proceeds as well as physical assets?
Yes. It refers to assets or proceeds remaining after the specified liabilities are discharged.
Who receives the remainder?
The person from whose custody the assets were seized.
Does the rule say release must occur within thirty days?
No. Its wording is forthwith; it does not specify a thirty-day period.
Glossary
- Remaining proceeds
- The proceeds left after the liabilities referred to in section 250(1) have been discharged.