Part 2

Confiscation: England and Wales

Application of sums

Sums received by Director
57
1
This section applies if the Director receives sums on account of the amount payable under a confiscation order (whether the sums are received under section 56 or otherwise).
2
The Director’s receipt of the sums reduces the amount payable under the order, but he must apply the sums received as follows.
3
First he must apply them in payment of such expenses incurred by a person acting as an insolvency practitioner as—
a
are payable under this subsection by virtue of section 432, but
b
are not already paid under section 56(2)(a).
4
If the Director received the sums under section 56 he must next apply them—
a
first, in payment of the remuneration and expenses of a receiver appointed under section 48, to the extent that they have not been met by virtue of the exercise by that receiver of a power conferred under section 49(2)(d);
b
second, in payment of the remuneration and expenses of the receiver appointed under section 52.
5
If a direction was made under section 13(6) for an amount of compensation to be paid out of sums recovered under the confiscation order, the Director must next apply the sums in payment of that amount.
6
Subsection (4) does not apply if the receiver is a member of the staff of the Agency or a person providing services under arrangements made by the Director.