WAYA: SEMINAL SUPREME COURT DECISION
ON PROCEEDS OF CRIME
The Supreme Court, in Waya [2012] UKSC 51, has pronounced upon hugely important issues relating to the confiscation provisions of the Proceeds of Crime Act, 2002. In our view, this is the most important decision by the Supreme Court on the Act to date. The majority judgment of the Court deals with:
-The interrelationship between the provisions of the Act and ECHR provisions;
– The need for proportionality;
– How to deal with the proceeds of mixed investments ( i.e. where part is legitimate, part proceeds of crime );
– How to approach the situation where a defendant has made full restitution;
– The obligations of the Crown in seeking an order, which must take proportionality into account.
– The situation where a defendant obtains a loan or mortgage by deception, but makes all due payments.
The effect of this case is to restore the provisions of the Act to something which more closely resembles what most people would instinctively regard as fair. It is of great importance to practitioners who will need to thoroughly familiarize themselves with its principles.
We have, accordingly, set out an analysis of the important features of the case in at some length.