PART 5

Vesting etc.

Vesting

Property subject to restraint order
80
1
Subsection (2) applies where—
a
property is excluded from the debtor's estate by virtue of section 420(2)(a) of the Proceeds of Crime Act 2002 (property subject to a restraint order),
b
an order under section 50, 67A, 128, 131A, 198 or 215A of that Act has not been made in respect of the property,
c
the restraint order is discharged, and
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.
2
The property vests in the trustee in the sequestration as part of the debtor's estate.
3
But subsection (2) does not apply to the proceeds of property realised by a management receiver under section 49(2)(d) or 197(2)(d) of that Act (realisation of property to meet receiver's outlays and remuneration).
S. 80 in force at 30.11.2016 by S.S.I. 2016/294, reg. 2