Textual Amendments
F1Cross-heading preceding s. 31 substituted (1.4.2008) by virtue of Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 36, 227(3), Sch. 1 para. 30(6) (with s. 223); S.S.I. 2008/115, art. 3(1)(i) (with arts. 4-6, 10 (as amended (with effect from 31.1.2011) by S.S.I. 2011/31, art. 5))
(1)This section 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, F3. . . 128 [F4or 198] of that Act has not been made in respect of the property, and
(c)the restraint order is discharged.
(2)On the discharge of the restraint order the property vests in the F5. . . trustee 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 remuneration and expenses).]
Textual Amendments
F2Ss. 31A-31C inserted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), Ss. 456, 458(1)(3), Sch. 11 para. 15(4); S.I. 2003/333, art. 2(1) Sch. (subject to transitional provisions in arts. 3-14) (as amended by S.I. 2003/531); S.S.I. 2003/210, art. 2(1)(b), Sch. (subject to transitional provisions in arts. 3-7)
F3Word in s. 31A(1)(b) repealed (1.4.2008) by Serious Crime Act 2007 (c. 27), ss. 74(2), 92, 94, Sch. 8 para. 150(a), Sch. 14; S.I. 2008/755, art. 2(1)(b)(v) (subject to arts 3-14)
F4Words in s. 31A(1)(b) substituted (1.4.2008) by Serious Crime Act 2007 (c. 27), ss. 74(2), 94, Sch. 8 para. 150(b); S.I. 2008/755, art. 2(1)(a) (subject to arts 3-14)
F5Word in s. 31A(2) repealed (1.4.2008) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 226, 227(3), Sch. 6 Pt. 1 (with s. 223); S.S.I. 2008/115, art. 3(2)(3), Sch. 2 (with arts 4-6, 10 (as amended by S.S.I 2009/67, art. 7 and S.S.I. 2011/31, art. 5))