The Criminal Proceeds (Recovery) Act, which took effect in December 2009, allows police to seize assets believed to have been bought with the proceeds of crime, without first securing a criminal conviction.
Police Minister Judith Collins said she was advised the Act was having a "substantial and rising" impact on organised crime and drug offending.
So far, police were holding restraining orders over $40 million of assets and a further $8 million had been forfeited to the Crown.
Police were unable to break down the seizures into regional figures yesterday, but Detective Sergeant John Hedges, of Dunedin, said in Dunedin and Mosgiel several residential homes and vehicles had been seized so far under the Act.
He did not have information on the number of items seized or their value, but said most were under a restraining order.
He believed so far only one item, a house in Middleton Rd that had belonged to the Mongrel Mob, had been forfeited to the Crown.
That forfeiture followed an operation targeting drug dealing by the gang.
The house, which had a rateable value of $195,000, later sold at auction for $74,000.
The assets held nationally under the Act included boats, motorcycles, luxury cars, 4WD vehicles, cash, money held in bank accounts, lifestyle blocks and a large number of residential properties.
Police had also struck memorandums of understandings with other government agencies, including the Solicitor-general, the Official Assignee and Inland Revenue, to enable the disclosure and sharing of information, so the legislation could be used to the maximum extent, Ms Collins said.
Seized across New Zealand
Art collection 1
Boats 5
Bonus bonds 4
Cars/vans/4WDs 74
Cash/bank accounts 91
Commercial properties 5
Farms/orchards 6
Furniture and effects 3
Jewellery (incl. precious metals, gemstones) 7
Lifestyle blocks 10
Motorcycles 30
Plant, equipment 13
Residential properties 42
