6 Meaning of “amount that might be realised” and “realisable property”.E+W
(1)For the purposes of this Act the amount that might be realised at the time a confiscation order is made against the defendant is—
(a)the total of the values at that time of all the realisable property held by the defendant, less
(b)where there are obligations having priority at that time, the total amount payable in pursuance of such obligations,
together with the total of the values at that time of all gifts caught by this Act.
(2)In this Act “realisable property” means, subject to subsection (3) below—
(a)any property held by the defendant; and
(b)any property held by a person to whom the defendant has directly or indirectly made a gift caught by this Act.
(3)Property is not realisable property if there is in force in respect of it an order under any of the following enactments, namely—
(a)section 27 of the Misuse M1 of Drugs Act 1971 (forfeiture orders);
(b)section 43 of the Powers M2 of Criminal Courts Act 1973 (deprivation orders);
(c)section 223 or 436 of the Criminal M3 Procedure (Scotland) Act 1975 (forfeiture of property);
(d)section 13(2), (3) or (4) of the Prevention M4 of Terrorism (Temporary Provisions) Act 1989 (forfeiture orders).
[F1(e)Part II of the Proceeds of Crime (Scotland) Act 1995 (forfeiture of property used in crime);]
(4)For the purposes of subsection (1) above, an obligation has priority at any time if it is an obligation of the defendant—
(a)to pay an amount due in respect of a fine, or other order of a court, imposed or made on conviction of an offence, where the fine was imposed or the order was made before the confiscation order; or
(b)to pay any sum which would be included among the preferential debts (within the meaning given by section 386 of the Insolvency M5 Act 1986) in the defendant’s bankruptcy commencing on the date of the confiscation order or winding up under an order of the court made on that date.
Textual Amendments
F1S. 6(3)(e) substituted (1.4.1996) by 1995 c. 40, ss. 5, 7(2), Sch. 4 para. 94(3)
Marginal Citations