Section 280: Applying realised proceeds
384.This section governs the use of sums in the hands of the trustee for civil recovery. The sums may have reached his hands because:
it was the proceeds of sale of non-cash property recovered under section 266 orsection 276, or
it was itself vested under section 266 or section 276, or
it was paid under the provisions of section 271 as a result of an agreement between the enforcement authority and other persons with non-recoverable interests in the property for them to ‘buy out’ the value of the recoverable property, or
it was an amount equal to the value of rights under a pension scheme, paid to the trustee under section 273 or 277.
385.The trustee must first make any payment required to be made by him following an order made under section 272. Second, he must pay expenses incurred by a person acting as an insolvency practitioner. The balance must be paid to the Director or the Scottish Ministers.
