Article 120 Sums received by appropriate chief clerkI1
United Kingdom
This article applies if the appropriate chief clerk receives sums on account of the amount payable under a registered external order or the value of the property specified in the order.
The appropriate chief clerk’s receipt of the sums reduces the amount payable under the order, but he must apply the sums received as follows.
First he must apply them in payment of such expenses incurred by a person acting as an insolvency practitioner as—
are payable under this paragraph by virtue of article 3, but
are not already paid under article 119(2)(a).
He must next apply them—
first, in payment of the remuneration and expenses of a receiver appointed under article 101 to the extent that they have not been met by virtue of the exercise by that receiver of a power conferred under article 102(2)(d);
second, in payment of the remuneration and expenses of the receiver appointed under article 113;
third, in payment to an appropriate officer of any amount to which the officer is entitled by virtue of article 134B(3).
If any amount remains after the appropriate chief clerk makes any payments required by the preceding provisions of this article, the amount must be treated for the purposes of section 20 of the Administration of Justice Act (Northern Ireland) 1954f1 (application of fines) as if it were a fine.
Paragraph (4) does not apply if the receiver is a member of the staff of the Public Prosecution Service for Northern Ireland, or the Serious Fraud Office; and it is immaterial whether he is a permanent or temporary member or he is on secondment from elsewhere.
Annotations
Textual amendments
- F1
Art. 120(4)(c) inserted (11.8.2016) by The Proceeds of Crime Act 2002 (External Requests and Orders) (Amendment) Order 2016 (S.I. 2016/662), arts. 1, 30
Commencement
Footnotes
- f1