An Act has gone before legislators allowing the Bermuda Government to retain half of criminal proceeds seized by overseas jurisdictions.

The Proceeds Of Crime (Asset Retention) Amendment Act 2015 would allow 50 per cent, or such amounts as the minister finds appropriate, to be remitted into the Confiscated Assets Funds.

Attorney General Trevor Moniz (pictured) said it would allow Bermuda to determine how much was retained, as well as securing it at the outset instead of waiting on another jurisdiction’s internal processing.

Mr Moniz said his ministry had only recently learned of the need to “plug this lacuna in our legislation”.

Michael Scott, the Opposition’s Shadow Attorney General, gave the Progressive Labour Party’s support during Friday’s House of Assembly.