The Government adopted Regulation on the conditions and methods of managing temporarily seized assets

At today’s session, the Government adopted the proposal of the Regulation on the conditions and methods of managing temporarily seized assets, presented by Deputy Prime Minister and Minister of State Assets Branko Bačić. The Regulation thoroughly prescribes the conditions and methods of managing assets which have been temporarily seized in criminal proceedings and transferred to the Ministry responsible for state assets based on the decision of the competent body.

Assets seized in criminal proceedings include proceeds obtained by the defendant or a related person through a criminal offence or unlawful act, any object intended for or used to commit a criminal offence, as well as any object resulting from committing a criminal offence.

“These assets can be movable property, immovable property, money, shares, securities or virtual currency,” Minister Bačić clarified. The management of these assets entails record-keeping, storage and safekeeping, use, rental or lease and other activities in accordance with the law.

“According to the proposal of the Regulation, movable property can be sold or assigned for use or lease, while vehicles and artwork are kept at a designated location in the city of Zagreb. Immovable property can be assigned for use or lease, rented out or, in exceptional cases when keeping such assets incurs costs, it may also be sold,” Minister Bačić added.

Temporarily seized financial assets in euro can be paid into the state budget account, while financial assets in a foreign currency can be paid into the Ministry’s account. Assets in virtual currencies are kept in a digital wallet. Securities, jewellery and precious metals are kept in the safes of the Ministry or commercial banks. Moreover, based on the Regulation, the Ministry can exercise the rights and obligations of a holder of shares and business interests which have been temporarily seized, while their management can be entrusted to the Centre for Restructuring and Sale.

“Funds collected by the State through the sale or disposal of these assets constitute funds of the state budget and, if so decided, the assets or money will be returned to the owner based on a final court decision,” the Minister concluded. The Ministry is obliged to inform the Government once a year on the effects of the implementation of this Regulation.

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