Schedules

Schedule 7Minor and consequential amendments

Part 6Proceeds of crime: confiscation

Insolvency Act 1986 (c. 45)

I155

After section 306A insert—

306AAProperty released from detention

1

This section applies where—

a

property is excluded from the bankrupt's estate by virtue of section 417(2)(b) of the Proceeds of Crime Act 2002 (property detained under certain provisions),

b

no order is in force in respect of the property under section 41, 50, 120, 128, 190 or 198 of that Act, and

c

the property is released.

2

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