Section 282 Other exemptionsI1

United Kingdom

(1)

Proceedings for a recovery order may not be taken against any person in circumstances of a prescribed description; and the circumstances may relate to the person himself or to the property or to any other matter.

In this subsection, prescribed means prescribed by an order made by the Secretary of State after consultation with the Scottish Ministers F1or, in relation to Northern Ireland, prescribed by an order made by the Department of Justice.

(2)

Proceedings for a recovery order may not be taken in respect of cash found at any place in the United Kingdom unless the proceedings are also taken in respect of property other than cash which is property of the same person.

(3)

Proceedings for a recovery order may not be taken against the F2Financial Conduct Authority or the Prudential Regulation Authority in respect of any recoverable property held by F3it.

(4)

Proceedings for a recovery order may not be taken in respect of any property which is subject to any of the following charges—

(a)

a collateral security charge, within the meaning of the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979),

(b)

a market charge, within the meaning of Part 7 of the Companies Act 1989 (c. 40),

(c)

a money market charge, within the meaning of the Financial Markets and Insolvency (Money Market) Regulations 1995 (S.I. 1995/2049),

(d)

a system charge, within the meaning of the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469) or the Financial Markets and Insolvency Regulations (Northern Ireland) 1996 (S.R. 1996/252).

(5)

Proceedings for a recovery order may not be taken against any person in respect of any recoverable property which he holds by reason of his acting, or having acted, as an insolvency practitioner.

Acting as an insolvency practitioner has the same meaning as in section 433.

Annotations

Textual amendments

F1: Words in s. 282(1) inserted (12.4.2010) by The Northern Ireland Act 1998 (Devolution of Policing and Justice Functions) Order 2010 (S.I. 2010/976), art. 1(2), Sch. 14 para. 55 (with arts. 28-31)
F2: Words in s. 282(3) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 94(2)(a) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F3: Word in s. 282(3) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 18 para. 94(2)(b) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Commencement

I1: S. 282 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