PART 5Vesting etc.

Vesting

I182Property in respect of which receivership or administration order is made

1

Subsection (2) applies where—

a

property is excluded from the debtor's estate by virtue of section 420(2)(c) of the Proceeds of Crime Act 2002 (property in respect of which an order for the appointment of a receiver or administrator under certain provisions of that Act is in force),

b

a confiscation order is made under section 6, 92 or 156 of that Act,

c

the amount payable under the confiscation order is fully paid, and

d

any of the property remains in the hands of the receiver or administrator (as the case may be).

2

The property vests in the trustee in the sequestration as part of the debtor's estate.