# The Proceeds of Crime Act 2002 (External Requests and Orders) Order 2005, Paragraph 7: Effect of appointment of administrator on diligence

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

(1) An arrestment or attachment of realisable property or specified property, as the case may be, executed on or after the appointment of an administrator does not create a preference for the arrester or attacher.
(2) Any realisable property or specified property so arrested or attached, or (if the property has been sold) the proceeds of sale, must be handed over to the administrator.
(3) A poinding of the ground in respect of realisable property or specified property on or after such appointment is ineffectual in a question with the administrator except for the interest mentioned in sub-paragraph (4).
(4) That interest is—
(a) interest on the debt of a secured creditor for the current half-yearly term; and
(b) arrears of interest on that debt for one year immediately before the commencement of that term.
(5) On and after such appointment no other person may raise or insist in an adjudication against realisable property or specified property or be confirmed as executor – creditor on that property.
(6) An inhibition on realisable property or specified property which takes effect on or after such appointment does not create a preference for the inhibitor in a question with the administrator.
(7) This paragraph is without prejudice to articles 61 and 62.
(8) In this paragraph, the reference to an administrator is to an administrator appointed under article 73(2).

---
Source: https://www.legislation.gov.uk/uksi/2005/3181/schedule/1/paragraph/7 (the official version)
Page: https://openlegislation.uk/proceeds-of-crime-act-2002-external-requests-and-orders-order-2005/schedule-1/paragraph-7
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.