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Part One. Article 14 127Rolling text (A/AC.254/4/Rev.7)“Article 7 ter 2“Disposal of confiscated assets“1. Proceeds of crime or property confiscated by a State Party pursuant to article7 or paragraph 1 of article 7 bis shall be disposed of by that State Party in accordancewith its domestic law and administrative procedures.“1 bis. When acting on the request made by another State Party in accordancewith article 7 bis of this Convention, States Parties shall, to the extent permitted bydomestic law and if so requested, give priority consideration to returning the confiscatedassets to the requesting State Party so that it can give compensation to the victimsof the crime or return such assets to their legitimate owners. 3“2. When acting on the request of another State Party in accordance with articles7 and 7 bis, a State Party may give special consideration to concluding agreementson:“(a) Contributing the value of such proceeds and property, or funds derivedfrom the sale of such proceeds or property or a substantial part thereof to intergovernmentalbodies specializing in the fight against organized crime;“(b) Sharing with other States Parties, on a regular or case-by-case basis, suchproceeds or property, or funds derived from the sale of such proceeds or property,in accordance with its domestic law, administrative procedures or bilateral or multilateralagreements entered into for this purpose.”Notes by the Secretariat4. At its eighth session, the Ad Hoc Committee approved article 7 ter of the draftconvention without amendment (see A/AC.254/28, para. 11). Paragraph 1 bis was approvedas paragraph 2 of the article, with consequent renumbering of the following paragraph. Atits tenth session, the Ad Hoc Committee considered, finalized and approved article 7 ter,with the following amendments: the phrase “proceeds of crime or property”, was proposedby the Russian Federation to replace the word “assets” in paragraph 2. The addition of thephrase “to the account designated in accordance with article 21 bis, paragraph (c) of thisConvention” was proposed by Pakistan and approved, as amended by Canada. The deletionof the word “substantial” in subparagraph 3 (a) was proposed by New Zealand andapproved. The last amendments are reflected in the final text of the convention, as includedin the report of the Ad Hoc Committee (A/55/383, sect. IV, draft resolution, annex I),that was submitted to the General Assembly for adoption pursuant to resolution 54/126 of17 December 1999.2Except where indicated otherwise, the text of this article was provisionally approved at the informal consultationsheld during the seventh session of the Ad Hoc Committee and recommended by the Chairmen of the informal consultationsas the basis for the consideration and approval of the article by the Ad Hoc Committee at its eighth session.3This paragraph was under review, as it would require further refinement in order to meet all the concerns expressedat the informal consultations held during the seventh session of the Ad Hoc Committee. Consideration should also be givento the relation of this paragraph with articles 14, 18 and 18 bis. The Russian Federation made a proposal on confiscation(A/AC.254/5/Add.20), which was to be considered by the Ad Hoc Committee at its eighth session.