Chapter:	455	Title:	ORGANIZED AND SERIOUS CRIMES ORDINANCE	Gazette Number:	37 of 1998
Section:	12	Heading:	Definition of principal terms used	Version Date:	20/11/1998

(1) In this Ordinance, "realisable property" (可變現財產) means, subject to subsection (2)-

(a) any property held by the defendant; (Amended 90 of 1995 s. 11)
(b) any property held by a person to whom the defendant has directly or indirectly made a gift caught by this Ordinance; and (Amended 90 of 1995 s. 11)
(c) any property that is subject to the effective control of the defendant. (Added 90 of 1995 s. 11)

(a) an order under section 102 or 103 of the Criminal Procedure Ordinance (Cap 221);
(b) an order under section 38F or 56 of the Dangerous Drugs Ordinance (Cap 134); or
(c) an order under section 12AA(1) of the Prevention of Bribery Ordinance (Cap 201),

(a) the total of the values at that time of all the realisable property held by the defendant, less
(b) where there are obligations having priority at that time, the total amounts payable in pursuance of such obligations,

(a) where any other person holds an interest in the property, is-
(i) the market value of the first-mentioned person's beneficial interest in the property, less
(ii) the amount required to discharge any incumbrance (other than a charging order) on that interest; and
(b) in any other case, is its market value.

(a) the value of the gift, payment or reward to the recipient when he received it adjusted to take account of subsequent changes in the value of money; or
(b) where subsection (6) applies, the value there mentioned,

(a) the property which he received (not being cash); or
(b) property which, in whole or in part, directly or indirectly represents in his hands the property which he received,

(a) pay an amount due in respect of a fine, or other order of a court, imposed or made on conviction of an offence, where the fine was imposed or order made before the confiscation order; or
(b) pay any sum which, if the defendant had been adjudged bankrupt or was being wound up, would be among the preferential debts.

(a) in relation to bankruptcy, means the debts to be paid in priority under section 38 of the Bankruptcy Ordinance (Cap 6) (assuming the date of the confiscation order to be the date of filing of the petition and of the bankruptcy order made under that Ordinance); and (Amended 37 of 1998 s. 11)
(b) in relation to winding up, means the debts to be paid under section 265 of the Companies Ordinance (Cap 32) (assuming the date of the confiscation order to be the date of commencement of the winding up and the relevant date for the purpose of that section).

(a) it was made by the defendant at any time since the beginning of the period of 6 years ending when the proceedings were instituted against him; or
(b) it was made by the defendant at any time and was a gift of property received by the defendant in connection with a specified offence or an organized crime committed by him or another; or
(c) it was made by the defendant at any time and was a gift of property which in whole or in part directly or indirectly represented in the defendant's hands property received by him in that connection.

(a) the circumstances in which the defendant is to be treated as making a gift include those where he transfers property to another person directly or indirectly for a consideration the value of which is significantly less than the value of the consideration provided by the defendant; and
(b) in those circumstances, the preceding provisions of this section shall apply as if the defendant had made a gift of such share in the property as bears to the whole property the same proportion as the difference between the values referred to in paragraph (a) bears to the value of the consideration provided by the defendant.

(a) property, or an interest in property, may be subject to the effective control of the defendant whether or not the defendant has-
(i) a legal or equitable estate or interest in the property; or
(ii) a right, power or privilege in connection with the property;
(b) without limiting the generality of any other provision of this Ordinance, in determining-
(i) whether or not property, or an interest in property, is subject to the effective control of the defendant; or
(ii) whether or not there are reasonable grounds to believe that property, or an interest in property, is subject to the effective control of the defendant,
regard may be had to-
(A) shareholdings in, debentures over or directorships of a company that has an interest (whether direct or indirect) in the property;
(B) a trust that has a relationship to the property; and
(C) family, domestic and business relationships between persons having an interest in the property, or in companies of the kind referred to in subparagraph (A) or trusts of the kind referred to in subparagraph (B), and other persons. (Added 90 of 1995 s. 11)