This archive report was first published on 18 September 2019.
On September 18, 2019, the National Treasury published draft regulations to establish a Criminal Assets Recovery Fund and Administration.
The Fund's primary mandate is to receive, manage, and transfer money and property derived from confiscation and forfeiture orders, as well as recoveries under the Anti-Corruption and Economic Crimes Act.
Additionally, the Fund may invest in government securities where appropriate.
Administration of the Fund will be overseen by an administrator and a committee established by the Treasury.
The Fund will operate on the basis of annual work programs and cost estimates prepared by the administrator.
Annual financial and non-financial reports, as well as general performance reports, will be prepared by the Fund, with a review of operations occurring every ten years.
The Treasury invites the public and relevant institutions to submit comments on the draft regulations by 5 pm on September 25, 2019.
