On 3 April 2014, the new EU Directive on the freezing and confiscation of proceeds of crime was signed. The Directive was agreed between the European Parliament and the Council of the European Union earlier this year. The Council announced its formal adoption on 14 March 2014. The UK has not opted into the Directive. The Directive will take effect once published in the Official Journal of the European Union but will only come into force once transposed into relevant national law.
The Directive is available at: http://register.consilium.europa.eu/doc/srv?l=EN&f=PE%20121%202013%20REV%202 .
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