The Drug Trafficking Offences Act 1986 (United States of America) Order 1989

Application of proceeds of realisation and other sums

12.—(1) Subject to subsection (2) below, the following sums in the hands of a receiver appointed under section 8 or 11 of this Act or in pursuance of a charging order, that is–

(a) the proceeds of the enforcement of any charge imposed under section 9 of this Act,

(b) the proceeds of the realisation, other than by the enforcement of such a charge, of any property under section 8 or 11 of this Act, and

(c) any other sums, being property held by the defendant,

shall first be applied in payment of such expenses incurred by a person acting as an insolvency practitioner as are payable under section 17A(2) of this Act and then shall, after such payments (if any) as the High Court may direct have been made out of those sums, be paid to the High Court and applied for the purposes specified in subsections (3) to (5) below and in the order so specified.

(2) Where a fixed amount is payable under the confiscation order and, after that amount has been fully paid, any such sums remain in the hands of such a receiver, the receiver shall distribute those sums–

(a) among such of those who held property which has been realised under this Act, and

(b) in such proportions,as the High Court may direct after giving a reasonable opportunity for such persons to make representations to the court.

(3) Any sums paid to the High Court under subsection (1) above shall first be applied to pay the receiver’s remuneration and expenses.

(4) Next, any amount paid under section 18(2) of this Act shall be reimbursed.

(5) Any sums remaining after all the payments required to be made under the foregoing provisions of this section have been made shall be paid to the Secretary of State and any sums so received by the Secretary of State shall be paid into the Consolidated Fund.