(1) Where a person applies for an order under section 29H and another person who holds the associated property or who is the excepted joint owner agree, the Court may, without prejudice to an order under section 29H, make an order requiring the person who holds the associated property or who is the excepted joint owner to make a payment to a person identified in the order.
(2) The amount of the payment under subsection (1)—
(a) is the amount which the persons under subsection (1) agree represents—
(i) the value of the forfeitable property,
(ii) is the value of the forfeitable property less the value of the excepted joint owner's share;
(b) may be reduced if the person who applied for the order under section 29H agrees that the other party to the agreement has suffered loss as a result of the seizure of the forfeitable property and any associated property and its subsequent detention.
(3) The reduction that is permissible under subsection (3) is an amount as the parties to the agreement agree is reasonable, having regard to the loss suffered and an other relevant circumstances.
(4) An order under subsection (1) may, so far as required for giving effect to the agreement, include provision for vesting, creating or extinguishing an interest in property.
(5) Where there is more than one item of associated property or more than one excepted joint owner, the total amount to be paid under subsection (1), and the part of that amount which is to be provided by each person who holds associated property or is an excepted joint owner, is to be agreed between both and the person who applied for the order under section 29H.
(6) An amount received under an order under subsection (1) must be applied—
(a) first, in payment or reimbursement of reasonable costs incurred in storing or insuring the forfeitable property and any associated property whilst detained;
(b) second, in payment by the Court, into the Fund.
(Inserted by Act 18 of 2023)