New Proposed Fee Structure for Corporate Forfeited Property Applications

The government has released a proposed new regulation that would set the fee structure for applications made under the Forfeited Corporate Property Act. The proposal sets out fees for relief from forfeiture and co-ownership. Specifically, the draft regulation states that:

1) An application may be made by any person under s. 26 of the FCPA for relief from forfeiture regarding a legal or moral claim to forfeited corporate property based on facts before the property forfeited. The applicant would be charged an application fee of $1,200.00; and

2) If forfeited corporate real property was owned by a corporation as a tenant in common with other owners then an application may be made under s. 28 of the FCPA by any other co-owner that is registered on title to the property for the prior corporate owners’ interest in the property. The co-owner making the application would be charged an application fee of $800.00.

These fees would cover the staff time and internal processing costs related to applications.

Read the proposal here.

 

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