Finance Act, 2001


127.—(1) If, on the expiration of the period referred to in subsection (1) of section 143 , no notice of claim has been given under that section, the thing in question shall be deemed to have been duly condemned as forfeited.

(2) Subject to subsection (3), where a notice in respect of anything is duly given under section 143 , the Commissioners shall take proceedings for the condemnation of the thing by the court, and in case the court finds that the thing was at the time of seizure liable to forfeiture, the court shall condemn it as forfeited and, in any other case, shall order its release.

(3) Where anything is condemned or deemed to have been condemned as forfeited under this section, the forfeiture shall apply as from the date when the liability to forfeiture arose.