Explanatory Notes

Proceeds of Crime Act 2002

2002 CHAPTER 29

24 July 2002

Commentary on Sections

Part 9: Insolvency etc.

Insolvency practitioners

Section 432: Insolvency practitioners

576.This section reproduces earlier legislation and explains what is to happen when an insolvency practitioner takes action against property subject to a restraint order. The main purpose of the provision is to protect insolvency practitioners who unwittingly interfere with property subject to a restraint order from liability, except insofar as is caused by their negligence, and to enable such insolvency practitioners to recover their expenses.