The Insolvency (Northern Ireland) Order 1989

[F1 Property subject to restraint order N.I.

279A— (1) This Article applies where—

(a) property is excluded from the bankrupt’s estate by virtue of section 423(2)(a) of the Proceeds of Crime Act 2002 (property subject to a restraint order),

(b) an order under [F2 section 50, 67A, 128, 131A, 198 or 215A] of that Act has not been made in respect of the property, F3 ...

(c) the restraint order is discharged [F4 , 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.]

[F5 (2) The property vests in the trustee as part of the bankrupt's estate.]

(3) But paragraph (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).]

F1 2002 c. 29

F2 Words in art. 279A(1)(b) substituted (1.6.2015 for specified purposes, 1.3.2016 in so far as not already in force) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 7 para. 60(2)(a); S.I. 2015/983, arts. 2(2)(e), 3(k); S.I. 2016/147, art. 3(i)

F3 Word in art. 279A(1)(b) repealed (1.6.2015) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 8 Pt. 4; S.I. 2015/983, art. 2(2)(f)

F4 Art. 279A(1)(d) and word inserted (1.6.2015 for specified purposes, 1.3.2016 in so far as not already in force) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 7 para. 60(2)(b); S.I. 2015/983, arts. 2(2)(e), 3(k); S.I. 2016/147, art. 3(i)

F5 Art. 279A(2) substituted (1.6.2015) by Policing and Crime Act 2009 (c. 26), s. 116(1), Sch. 7 para. 60(3); S.I. 2015/983, arts. 2(2)(e), 3(k)