73 Effect of restraint order

(1) Where any property of whatever kind and wherever situated, or any interest in such property, subjected to pecuniary penalty order or any measure of restraint or control by virtue of any of the provisions of this Act (including any provision for giving effect to orders made under the law of any country or territory outside Seychelles) or of any action taken under any such provision, no purported disposition of the property or interest and no other action shall be taken in respect of it, by or on behalf of any owner or other person having or claiming to have any interest in it (whether as a beneficial owner or trustee or in any other capacity).

(2) A person who knowingly contravenes or attempts to contravene a restraint order by disposing of or otherwise dealing with property commits an offence, and is liable upon conviction—
(a) in the case of an individual, to a fine of level 6 on the standard scale or imprisonment for a period not exceeding 5 years, or both;
(b) in any other case, to a fine of level 7 on the standard scale.
(3) Where a restraint order has been made against the property and the property is disposed of or otherwise dealt with in contravention of the restraint order, for insufficient consideration or not in favour of a person who acted in good faith and without notice, the Attorney General or a prosecutor on behalf of AntiCorruption Commission of Seychelles may apply to the Court for an order to declare such transaction as null and void and of no effect.
(4) Upon an application under subsection (3), the Court may—
(a) set aside or declare such transaction as null and void or of no effect from the day on which the disposition or dealing took place;
(b) set aside or declare null and void and of no effect the disposition or dealing as from the day of the order, and specify the rights of the person who have acquired interests in the property on or after the day on which the disposal or dealing took place, but before the day of the order.