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Bankruptcy (Scotland) Act 2016

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This is the original version (as it was originally enacted).

80Property subject to restraint order

(1)Subsection (2) applies where—

(a)property is excluded from the debtor’s estate by virtue of section 420(2)(a) of the Proceeds of Crime Act 2002 (property subject to a restraint order),

(b)an order under section 50, 67A, 128, 131A, 198 or 215A of that Act has not been made in respect of the property,

(c)the restraint order is discharged, and

(d)immediately after the discharge of the restraint order the property is not detained under or by virtue of section 44A, 47J, 122A, 127J, 193A or 195J of that Act.

(2)The property vests in the trustee in the sequestration as part of the debtor’s estate.

(3)But subsection (2) does not apply to the proceeds of property realised by a management receiver under section 49(2)(d) or 197(2)(d) of that Act (realisation of property to meet receiver’s outlays and remuneration).

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