← belizelaw.ai · Money Laundering And Terrorism, Cap. 104 · PART IV — Freezing and Forfeiture of Assets in Relation to Money
Rights of bona fide third parties
Cap. 104, s. 65 · Revised Edition 2020
(1) The measures and sanctions referred to in sections 39 and 49 shall apply without prejudice to the rights of bona fide
(2) Proper notifications shall be made so that all those claiming legitimate legal interest in property, proceeds or instrumentalities may appear in support of their claims.
(3) A third party’s lack of good faith may be inferred, at the discretion of the court or other competent authority, from the objective circumstances of the case.
(4) The court or other competent authority shall return the property, proceeds or instrumentalities to the claimant, when it has been demonstrated to its satisfaction that–
(a) the claimant has a legitimate legal interest in the property, proceeds or instrumentalities;
(b) no participation, collusion or involvement with respect to the money laundering offence or the terrorist financing offence which is the subject of the proceedings can be imputed to the claimant;
(c) the claimant lacked knowledge and was not intentionally ignorant of the illegal use of the property, proceeds or instrumentalities or if he had knowledge, did not freely consent to its illegal use;
(d) the claimant did not acquire any right in the property, proceeds or instrumentalities from a person proceeded against under circumstances that give rise to a reasonable inference that any right was transferred for the purpose of avoiding the eventual subsequent forfeiture of the property, proceeds or instrumentalities;
and
(e) the claimant did all that could reasonably be expected to prevent the illegal use of the property, proceeds or instrumentalities.
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