Section 87Part 2 — The Financial Reporting Authority
Application for interim receiving order
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Where the Director of Public Prosecutions intends to take proceedings for a recovery order in the Grand Court, the Director of Public Prosecutions may apply to the court for an interim rece iving order, whether before or after starting the proceedings.
An interim receiving order is an order for —
the detention, custody or preservation of property; and
its placing under the Official Receiver on an interim basis.
An application for an interim receiving order may be made ex parte if the circumstances are such that notice of the application would prejudice any right of the Director of Public Prosecutions to obtain a recovery order in respect of any property.
The court may make an interim receiving order on the application by the Director of Public Prosecutions if it is satisfied that the following conditions in paragraph
and, where applicable,
are met — ( a ) there is a good arguable case —
that the prop erty to which the application for the order relates is or includes recoverable property; and
that, if any of it is not recoverable property, it is associated property; and ( b ) if — ( i ) the property to which the application for the order relates includ es property alleged to be associated property; and ( ii ) the Director of Public Prosecutions has not established the identity of the person who holds it, the Director of Public Prosecutions has taken all reasonable steps to do so.
The extent of the powe r to make an interim receiving order is not limited by sections 88 t o 94 .