Article 279A Property subject to restraint orderF1

Northern Ireland

(1)

This Article applies where—

(a)

property is excluded from the bankrupt’s estate by virtue of section 423(2)(a) of the Proceeds of Crime Act 2002 (property subject to a restraint order),

(b)

an order under F2section 50, 67A, 128, 131A, 198 or 215A of that Act has not been made in respect of the property, F3...

(c)

the restraint order is discharged F4, and

(d)

immediately after the discharge of the restraint order the property is not detained under or by virtue of section 44A, 47J, 122A, 127J, 193A or 195J of that Act.

(F52)

The property vests in the trustee as part of the bankrupt's estate.

(3)

But paragraph (2) does not apply to the proceeds of property realised by a management receiver under section 49(2)(d) or 197(2)(d) of that Act (realisation of property to meet receiver’s remuneration and expenses).

Annotations

Textual amendments

F1: 2002 c. 29
F2: Words in art. 279A(1)(b) substituted (1.6.2015 for specified purposes, 1.3.2016 in so far as not already in force) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 7 para. 60(2)(a); S.I. 2015/983, arts. 2(2)(e), 3(k); S.I. 2016/147, art. 3(i)
F3: Word in art. 279A(1)(b) repealed (1.6.2015) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 8 Pt. 4; S.I. 2015/983, art. 2(2)(f)
F4: Art. 279A(1)(d) and word inserted (1.6.2015 for specified purposes, 1.3.2016 in so far as not already in force) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 7 para. 60(2)(b); S.I. 2015/983, arts. 2(2)(e), 3(k); S.I. 2016/147, art. 3(i)
F5: Art. 279A(2) substituted (1.6.2015) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 7 para. 60(3); S.I. 2015/983, arts. 2(2)(e), 3(k)

Notes on Part IX

Modifications

C1: Pts. VIII-X (arts. 209-345) modified by Foyle Fisheries Act (Northern Ireland) 1952 (c. 5), s. 52K(2) (as inserted (prosp.) by Foyle and Carlingford Fisheries (Northern Ireland) Order 2007 (S.I. 2007/915 (N.I. 9)), arts. 1(3), 3(1) (with art. 32))