# The Proceeds of Crime Act 2002 (External Requests and Orders) Order 2005, Paragraph 6: Money received by administrator

Extent: E+W+S+N.I.

(1) All money received by an administrator in the exercise of his functions must be deposited by him, in the name (unless vested in the administrator by virtue of paragraph 5(4)) of the holder of the property realised, in an appropriate bank or institution.
(2) But the administrator may at any time retain in his hands a sum not exceeding £200 or such other sum as may be prescribed by the Scottish Ministers by regulations.
(3) In sub-paragraph (1), “appropriate bank or institution” means a bank or institution mentioned in section 3(1) of the Banking Act 1987 or for the time being specified in Schedule 2 to that Act.

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Source: https://www.legislation.gov.uk/uksi/2005/3181/schedule/1/paragraph/6 (the official version)
Page: https://openlegislation.uk/proceeds-of-crime-act-2002-external-requests-and-orders-order-2005/schedule-1/paragraph-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.