The Insolvency (Northern Ireland) Order 1989 No. 2405 (NI. 19)

PART IX N.I. BANKRUPTCY

Modifications etc. (not altering text)

C1 Pts. VIII-X (arts. 209-345) modified by Foyle Fisheries Act (Northern Ireland) 1952 (c. 5), s. 52K(2) (as inserted (prosp.) by Foyle and Carlingford Fisheries (Northern Ireland) Order 2007 (S.I. 2007/915 (N.I. 9)), arts. 1(3), 3(1) (with art. 32))

CHAPTER IV N.I. ADMINISTRATION BY TRUSTEE

Acquisition, control and realisation of bankrupt's estate N.I.

Property subject to restraint order N.I.

[F1 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 section 50, 52, 128, 198 or 200 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 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