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Proceeds of Crime Act 2002

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418 Restriction of powersU.K.

This section has no associated Explanatory Notes

(1)If a person is [F1made] bankrupt in England and Wales the powers referred to in subsection (2) must not be exercised in relation to the property referred to in subsection (3).

(2)These are the powers—

(a)the powers conferred on a court by sections 41 to [F267B, the powers conferred on an appropriate officer by section 47C] and the powers of a receiver appointed under section 48 [F3or 50 ] ;

(b)the powers conferred on a court by sections 120 to 136 and Schedule 3 [F4, the powers conferred on an appropriate officer by section 127C] and the powers of an administrator appointed under section 125 or 128(3);

(c)the powers conferred on a court by sections 190 to [F5215B, the powers conferred on an appropriate officer by section 195C] and the powers of a receiver appointed under section 196 [F6or 198] .

(3)This is the property—

(a)property which is for the time being comprised in the bankrupt’s estate for the purposes of Part 9 of the 1986 Act;

(b)property in respect of which his trustee in bankruptcy may (without leave of the court) serve a notice under section 307, 308 or 308A of the 1986 Act (after-acquired property, tools, tenancies etc);

(c)property which is to be applied for the benefit of creditors of the bankrupt by virtue of a condition imposed under section 280(2)(c) of the 1986 Act;

(d)in a case where a confiscation order has been made under section 6 or 156 of this Act, any sums remaining in the hands of a receiver appointed under section 50 [F7or 198] of this Act after the amount required to be paid under the confiscation order has been fully paid;

(e)in a case where a confiscation order has been made under section 92 of this Act, any sums remaining in the hands of an administrator appointed under section 128 of this Act after the amount required to be paid under the confiscation order has been fully paid.

[F8(f)in a case where a confiscation order has been made under section 6, 92 or 156 of this Act, any sums remaining in the hands of an appropriate officer after the amount required to be paid under the confiscation order has been fully paid under section 67D(2)(c), 131D(2)(c) or 215D(2)(c).]

(4)But nothing in the 1986 Act must be taken to restrict (or enable the restriction of) the powers referred to in subsection (2).

(5)In a case where a petition in bankruptcy was presented or a receiving order or adjudication in bankruptcy was made before 29 December 1986 (when the 1986 Act came into force) this section has effect with these modifications—

(a)for the reference in subsection (3)(a) to the bankrupt’s estate for the purposes of Part 9 of that Act substitute a reference to the property of the bankrupt for the purposes of the 1914 Act;

(b)omit subsection (3)(b);

(c)for the reference in subsection (3)(c) to section 280(2)(c) of the 1986 Act substitute a reference to section 26(2) of the 1914 Act;

(d)for the reference in subsection (4) to the 1986 Act substitute a reference to the 1914 Act.

Textual Amendments

F3Words in s. 418(2)(a) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 70(2)(a); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)

F6Words in s. 418(2)(c) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 70(2)(b); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)

F7Words in s. 418(3)(d) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), s. 94(1), Sch. 8 para. 70(3); S.I. 2008/755, art. 2(1)(a) (with arts. 3-14)

F8S. 418(3)(f) inserted (1.6.2015 for specified purposes, 1.3.2016 in so far as not already in force) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 7 para. 80(3); S.I. 2015/983, arts. 2(2)(e), 3(q); S.I. 2016/147, art. 3(i)

Commencement Information

I1S. 418 in force at 24.3.2003 by S.I. 2003/333, art. 2, Sch.

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