1A. (1) Where a bureau officer who is—

(a) in a public place,

(b) in any other place under a power of entry authorised by law or to which he or she was expressly or impliedly invited or permitted to be, or

(c) carrying out a search authorised by law,

finds or comes into possession of any property and he or she has reasonable grounds for suspecting that the property—

(i) in whole or in part, directly or indirectly, constitutes proceeds of crime, and

(ii) is of a total value of not less than €5,000,

he or she may seize and detain the property for a period not exceeding 24 hours.

(2) Where a bureau officer has seized and detained property in accordance with subsection (1), the Chief Bureau Officer may, before the expiration of the relevant period of 24 hours, if he or she—

(a) is satisfied that there are reasonable grounds for suspecting that the property, in whole or in part, directly or indirectly, constitutes proceeds of crime,

(b) is satisfied that there are reasonable grounds for suspecting that the total value of the property is not less than €5,000,

(c) is satisfied that the Criminal Assets Bureau is carrying out an investigation into whether there are sufficient grounds to make an application to the Court for an interim order or an interlocutory order in respect of the property, and

(d) has reasonable grounds for believing that the property, in whole or in part, may in the absence of an authorisation, be disposed of or otherwise dealt with, or have its value diminished, before such an application may be made,

authorise the detention of the property by the Criminal Assets Bureau for a further period not exceeding 21 days.

(3) The Chief Bureau Officer shall give notice in writing of an authorisation to any person having possession or control of the property and any other person who appears to be or is affected by it, unless the Chief Bureau Officer is satisfied that it is not reasonably possible to ascertain his, her or their whereabouts.

(4) A notice given under this section shall include the reasons for the authorisation and inform the person to whom the notice is given of his or her right to make an application under section 1B.

(5) The reasons given in a notice under this section need not include details the disclosure of which there are reasonable grounds for believing would prejudice the investigation in respect of which the authorisation is given.

(6) The Chief Bureau Officer may vary or revoke an authorisation and shall revoke an authorisation if any of the grounds on which it was issued no longer exists.

(7) In this section, ‘property’ does not include land.]