Judgments Enforcement (Northern Ireland) Order 1981

Special provisions as to bills of exchange, policies of assurance, etc. N.I.

39.—(1) Where any bills of exchange, bonds or promissory notes or any other securities for money have been seized under an order of seizure, the Office shall hold them as security for the amount recoverable on foot of the judgment.

(2) When the time arrives for the recovery of the sum secured or made payable by virtue of any bill of exchange, bond, promissory note or other security held by the Office under paragraph (1), a creditor or the Chief Enforcement Officer may sue in the name of the debtor for the recovery of any sum so secured or made payable and still outstanding (and, where the Chief Enforcement Officer sues, on a change in the person who is that Officer the proceedings shall not abate but may be continued by his successor in office).

(3) Where any life policy has been seized under an order of seizure the Office may surrender the policy to the assurer, and thereupon the assurer shall, notwithstanding anything contained in the policy, pay to the Office such moneys as would have been payable to the assured if he had surrendered the policy to the assurer; and a receipt of the Office in respect of any moneys so paid shall be as effective as if given to the assurer by the assured.