ADVOKS GLOBAL · KENYA
Proceeds of Crime and Anti-Money Laundering Act
58. Value of property
Edition: 2025-11-04 · In force
58. Value of property
(1)For the purposes of this Part the value of property, other than money, in relation to any person holding the property, shall be—(a)where any other person holds an interest in the property, the market value of the property, less the amount required to discharge any encumbrance on the property; and(b)where no other person holds an interest in the property, the market value of the property.(2)Notwithstanding the provisions of subsection (1), any reference in this Part to the value at a particular time of a payment or reward, shall be construed as a reference to—(a)the value of the payment or reward at the time when the recipient received it; or(b)where subsection (3) applies, the value set out in that subsection,whichever is the higher.(3)If, at the particular time referred to in subsection (2) the recipient holds—(a)the property, other than cash, which that person received, the applicable value shall be the value of the property at the particular time; or(b)property which directly or indirectly represents in his hands the property which he received, the applicable value shall be the value of the property, in so far as it represents the property which he received, at the relevant time.