Criminal Justice Act 1972

10 Recovery of assets for benefit of criminal bankrupt's creditors

(1) Where a person is adjudged bankrupt in criminal bankruptcy proceedings, the official receiver (and not a person appointed under section 19 of the [1914 c. 59.] Bankruptcy Act 1914) shall in the bankruptcy be trustee of the property of the bankrupt; and the following provisions of this section shall apply with respect to dispositions of property or any interest in property, made by the bankrupt, on or after the operative date, either by way of gift or for an wider-value.

(2) On the application of the official receiver (in his capacity as trustee) the High Court may make orders requiring—

(a) the disponee under any such disposition; or

(b) subject to the following subsection, any other person who by virtue of any subsequent disposition acquired (whether or not from the original disponee) the whole or any part of the property or any interest therein,

to transfer the whole or any part of the property, or such interest as the order may specify, to the trustee, or to make such payments to the trustee as the court thinks just with a view to making available to the creditors the full value of the property or interest disposed of by the bankrupt (including any increase in its value since the disposition was made).

(3) No order shall be made by virtue of subsection (2)(b) above against a person appearing to the court to have given full value for anything taken by him under a relevant disposition or to claim (directly or indirectly) through a person who gave full value.

(4) An order of the High Court under this section requiring a person to transfer any property or interest may include such consequential directions for giving effect to the order, and be made on such terms (including in particular terms allowing the person to retain or recover consideration given by him for any relevant disposition) as the court thinks just in all the circumstances.

(5) In this section " disposition " includes any conveyance or assurance of property of any description and " disponee " shall be construed accordingly.

(6) Nothing in this section is to be taken to prejudice any provision of the [1914 c. 59.] Bankruptcy Act 1914.