(1) Where an application is made for a freezing order, the Court shall issue the order if it is satisfied that

(a) the respondent is being investigated for a serious offence,

(b) the respondent is charged with a serious offence,

(d) the respondent derived benefit directly or indirectly from the serious offence,

(e) the application seeks a freezing order against the property of a person other that the respondent because there are reasonable grounds to believe that the property is tainted property related to a serious offence and that the property is subject to the effective control of the respondent, or

(f) there are seasonable grounds to believe that a confiscation order shall be made under this Act in respect of the property,

(2) The Executive Director shall inform a person against whom a freezing order has been made within seven days after the order has been made.

(3) The Court shall in the case of an entity, lift the veil of incorporation to determine if property is subject to the effective control of the respondent

(4) A freezing order shall

(a) prohibit the respondent or another person from disposing of or dealing with the property or a part of the property or interest in the property that is specified in the order, except in a manner specified in the order,

(b) direct the Attorney-General to take custody and control of the property or a part of the property specified in the order and manage or deal with the property as directed by the Court, or

(c) require a person who has possession of the property to give possession to the Attorney-General to take custody and control of the property.

(5) An order under this section may be made, subject to the conditions that the Court considers appropriate and, without limiting the scope or the order, provide for

(a) the reasonable living expenses of a person affected by the order, including the reasonable living expenses of the person’s dependants, and reasonable business expenses of the person, and

(b) a specified public debt incurred in good faith by the person affected by the order.

(6) When the application is made for the protection of third parties on the basis that a person is about to be charged, an order made by the Court shall lapse if the person is not charged within twelve months after the issue of the order.