Article 279B Property in respect of which receivership or administration order madeF1

Northern Ireland

(1)

This Article applies where—

(a)

property is excluded from the bankrupt’s estate by virtue of F2section 423(2)(c) of the Proceeds of Crime Act 2002 (property in respect of which an order for the appointment of a receiver or administrator under certain provisions of that Act is in force),

(b)

a confiscation order is made under section 6, 92 or 156 of that Act,

(c)

the amount payable under the confiscation order is fully paid, and

(d)

any of the property remains in the hands of the receiver or administrator (as the case may be).

(2)

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

Annotations

Textual amendments

F1: 2002 c. 29
F2: Words in art. 279B(1)(a) substituted (1.6.2015) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 7 para. 62; S.I. 2015/983, arts. 2(2)(e), 3(l)

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))