Section 50 – Unlawful acts before attachment
103.Section 50(1) and (2) provide that the removal, sale, gifting or relinquishment of non-essential assets known to be subject to an exceptional attachment order or their wilful destruction or damage by anyone will amount to breach of the order.
104.Section 50(3) requires the debtor to give notification if an asset is stolen and of any insurance claim which it is intended to make. Section 50(5) and (6) make provision for a sum of money to be consigned in court by the debtor in circumstances where an asset is made unavailable before attachment has taken place in the knowledge of an exceptional attachment order’s existence. The sum to be consigned will be the best estimate of the amount which the asset would have achieved at auction under section 50(7). Where an attachment ceases to have effect, any sum which has been consigned in court will be paid to the creditor to the extent necessary to meet the debt with any surplus left over being paid to the debtor under section 50(8).
