Section 280 Applying realised proceedsI1

United Kingdom

(1)

F1Subsection (2) applies to sums which are in the hands of the trustee for civil recovery if they are—

(a)

sums which represent the realised proceeds of property which was vested in the trustee for civil recovery by a recovery order or which he obtained in pursuance of a recovery order,

(b)

sums vested in the trustee by a recovery order or obtained by him in pursuance of a recovery order.

(2)

The trustee is to make out of the sums—

(a)

first, any payment required to be made by him by virtue of section 272,

F2(aa)

next, any payment of legal expenses which, after giving effect to section 266(8B), are payable under this subsection in pursuance of provision under section 266(8A) contained in the recovery order,

(b)

F3then, any payment of expenses incurred by a person acting as an insolvency practitioner which are payable under this subsection by virtue of section 432(10),

and any sum which remains is to be paid to the enforcement authority.

F4(3)

The F5enforcement authority (unless it is the Scottish Ministers) may apply a sum received by F6it under subsection (2) in making payment of the remuneration and expenses of—

(a)

the trustee, or

(b)

any interim receiver appointed in, or in anticipation of, the proceedings for the recovery order.

(4)

Subsection (3)(a) does not apply in relation to the remuneration of the trustee if the trustee is a member of the staff of the F7enforcement authority concerned F8(but it does apply in relation to such remuneration if the trustee is a person providing services under arrangements made by that enforcement authority).

Annotations

Textual amendments

F1: Words in s. 280(1) substituted (E.W.S.) (retrospectively) by Crime and Courts Act 2013 (c. 22), ss. 48(7), 61(11)(d), Sch. 18 para. 5 (with s. 48(8), Sch. 25); this amendment extended to N.I. (20.3.2015) by The Crime and Courts Act 2013 (National Crime Agency and Proceeds of Crime) (Northern Ireland) Order 2015 (S.I. 2015/798), arts. 1(2), 7(a)
F2: S. 280(2)(aa) inserted (1.1.2006) by Serious Organised Crime and Police Act 2005 (c. 15), s. 178(8), Sch. 6 para. 18(a); S.I. 2005/3136, art. 3(c)
F3: Word in s. 280(2)(b) substituted (1.1.2006) by Serious Organised Crime and Police Act 2005 (c. 15), s. 178(8), Sch. 6 para. 18(b); S.I. 2005/3136, art. 3(c)
F4: S. 280(3)(4) inserted (1.7.2005) by Serious Organised Crime and Police Act 2005 (c. 15), ss. 99(2), 178(7)(a); S.I. 2005/1521, art. 2(1)(b)
F5: Words in s. 280(3) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 88(2)(a); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)
F6: Word in s. 280(3) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 88(2)(b); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)
F7: Words in s. 280(4) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 88(3); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)
F8: Words in s. 280(4) inserted (1.4.2008) by Serious Crime Act 2007 (Amendment of the Proceeds of Crime Act 2002) Order 2008 (S.I. 2008/949), arts. 1, 2

Commencement

I1: S. 280 in force at 24.2.2003 by S.I. 2003/120, art. 2, Sch. (with arts. 3, 4) (as amended (20.2.2003) by S.I. 2003/333, art. 14)

Notes on Chapter 2

Modifications

C1: Pt. 5 Ch. 2: power to modify conferred (25.4.2013) by Crime and Courts Act 2013 (c. 22), s. 61(11)(f), Sch. 25 para. 7