26.—(1) Subject to the provisions of this section, any property seized under section 25 shall, if a person is surrendered under this Act, be handed over to any person duly authorised by the issuing state to receive it, as soon as may be after the surrender of the person, and the said property shall be so handed over notwithstanding that the surrender of the person cannot be carried out by reason of the death or escape from custody of the person claimed.

(2) Any property seized under section 25 may, if any criminal proceedings to which the property relates are pending in the State, be retained in the State for the purposes of those proceedings or may, if the Central Authority in the State, after consultation with the Director of Public Prosecutions, so directs, be handed over to the issuing state subject to the issuing state agreeing to return the property.

(3) This section shall not operate to abrogate any rights lawfully vested in the State, or any person, in any property to which this section applies and, where any such rights exist, the property shall not be handed over unless an undertaking is given by the issuing state that it will return the property as soon as may be after the trial of the person surrendered and without charge to the State or person in whom such rights vest.