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(1) An authorized officer of the Office or any other public officer authorized by the Executive Director, shall seize currency

(a) that exceeds the amount prescribed by the Bank of Ghana being imported into or exported from the country,

(b) if the officer has reasonable grounds to suspect that

(i) the currency is the proceeds of crime, or

(ii) the currency is intended by the person for use in the commission of a serious offence, or

(c) if the holder of the currency is unable to provide satisfactory explanation for the source of the currency.

(2) The officer who seized currency shall record

(a ) the name of the person from whom the currency was seized,

(b) the particulars of the currency, and

(c) any other relevant information as regards the currency, and send the record and the seized currency to the Executive Director.

(3) Where currency is in the possession of the Executive Director and a period of one month has lapsed from the date of seizure, the currency shall by order of the court be forfeited to the Republic unless within that period the owner has claimed the currency by giving notice of the claim in writing to the Executive Director.

(4) A Court shall, on an application by or on behalf of a person by whom the currency was imported or exported, order the release of the currency seized in whole or in part after hearing the Executive Director or an authorized officer if the seizure of the currency is no longer justified.

(5) An authorized officer of the Office shall not release currency seized where

(a) an application for the confiscation of the whole or a part of the currency is pending, or

(b) Proceedings have commenced in this country or in any other jurisdiction against the person for the offence that involves the currency.