Schedules
Schedule 7Minor and consequential amendments
Part 6Proceeds of crime: confiscation
Insolvency (Northern Ireland) Order 1989 (S.I. 1989/2405 (N.I. 19))
59
The Insolvency (Northern Ireland) Order 1989 is amended as follows.
60
1
Article 279A (property subject to restraint order) is amended as follows.
2
In paragraph (1)—
a
in sub-paragraph (b) for “section 50, 128 or 198” substitute “
section 50, 67A, 128, 131A, 198 or 215A
”
, and
b
after sub-paragraph (c) insert “, and
d
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.
3
For paragraph (2) substitute—
2
The property vests in the trustee as part of the bankrupt's estate.
61
After Article 279A insert—
Property released from detention279AA
1
This Article applies where—
a
property is excluded from the bankrupt's estate by virtue of section 423(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.
62
In Article 279B(1)(a)
(property in respect of which receivership or administration order is made) for “section 423(2)(b), (c) or (d)” substitute “
section 423(2)(c)
”
.
63
After Article 279B insert—
Property in respect of which realisation order made279BA
1
This Article applies where—
a
property is excluded from the bankrupt's estate by virtue of section 423(2)(d) of the Proceeds of Crime Act 2002 (property in respect of which an order has been made authorising realisation of the property by an appropriate officer),
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 appropriate officer.
2
The property vests in the trustee as part of the bankrupt's estate.
64
1
Article 279C (property subject to certain orders where confiscation order discharged or quashed) is amended as follows.
2
In paragraph (1)(a) for the words from “in respect” to “force” substitute “
excluded from the bankrupt's estate
”
.
3
For paragraph (2) substitute—
2
Any such property vests in the trustee as part of the bankrupt's estate if it is in the hands of—
a
a receiver appointed under Part 2 or 4 of that Act,
b
an administrator appointed under Part 3 of that Act,
c
an appropriate officer (within the meaning of section 41A, 120A or 190A of that Act).