1913 c. 20.

1986 c. 45.

1988 c. 33.

1986 c. 45.

1914 c.59.

1994 c. 37.

1986 c. 45.

1985 c. 6.

1986 c. 45.

1985 c. 6.

1985 c. 66.

http://www.legislation.gov.uk/ukpga/1995/20/schedule/4/1996-03-05Criminal Justice (Scotland) Act 1995An Act to amend the criminal justice system of Scotland as respects criminal proceedings, the investigation of offences, the sentences and other disposals applicable in respect of certain offences, legal aid in relation to certain appeals, and the treatment of offenders; to amend the law of Scotland in relation to confiscation of the proceeds of, and forfeiture of property used in, crime; to make further provision as respects Scotland in relation to the preparation of jury lists for the purposes of criminal and civil trials; and for connected purposes.1995-07-19texttext/xmlenStatute Law Database2011-05-271996-03-05 SCHEDULESSCHEDULE 4

Section 110.

Sequestration etc. of Persons Holding Realisable or Forfeitable Property Sequestration of person holding realisable or forfeitable property1(1)

Where the estate of a person who holds realisable or forfeitable property is sequestrated—

(a)

property, other than heritable property situated in Scotland, for the time being subject to a restraint order made before the date of sequestration (within the meaning of section 12(4) of the 1985 Act) and heritable property situated in Scotland for the time being subject to a restraint order recorded in the General Register of Sasines or, as the case may be, registered in the Land Register of Scotland before such date of sequestration; and

(b)

any proceeds of property realised by virtue of paragraph 1 of Schedule 3 to this Act for the time being in the hands of an administrator appointed under that paragraph,

is excluded from the debtor’s estate for the purposes of that Act.

(2)

Where an award of sequestration has been made, the powers conferred on the court by sections 94 to 99 and 101 to 104 of this Act or on an administrator appointed under paragraph 1 of the said Schedule 3 shall not be exercised in relation to—

(a)

property comprised in the whole estate of the debtor (within the meaning of section 31(8) of the 1985 Act); or

(b)

any income of the debtor which has been ordered, under subsection (2) of section 32 of that Act, to be paid to the permanent trustee or any estate which, under subsection (10) of section 31 of that Act or subsection (6) of the said section 32 of that Act, vests in the permanent trustee,

and it shall not be competent to submit a claim in relation to the confiscation order to the permanent trustee in accordance with section 48 of that Act.

(3)

Nothing in the 1985 Act shall be taken as restricting, or enabling the restriction of, the exercise of the powers so conferred.

(4)

Where, during the period before sequestration is awarded, an interim trustee stands appointed under section 2(5) of the 1985 Act and any property in the debtor’s estate is subject to a restraint order, the powers conferred on the interim trustee by virtue of that Act do not apply to property for the time being subject to the restraint order.

(5)

Where the estate of a person is sequestrated and he has directly or indirectly made a gift caught by Chapter I of Part II of this Act—

(a)

no decree shall, at any time when proceedings as regards an offence to which Chapter I of Part II of this Act applies have been instituted against him and have not been concluded or when property of the person to whom the gift was made is subject to a restraint order, be granted under section 34 or 36 of the 1985 Act (gratuitous alienations and unfair preferences) in respect of the making of the gift; and

(b)

any decree granted under either of the said sections 34 and 36 after the conclusion of the proceedings shall take into account any realisation under this Act of property held by the person to whom the gift was made.

(6)

In any case in which, notwithstanding the coming into force of the 1985 Act, the Bankruptcy (Scotland) Act 1913 applies to a sequestration, sub-paragraph (2) above shall have effect as if for paragraphs (a) and (b) thereof there were substituted the following paragraphs—(a)

property comprised in the whole property of the debtor which vests in the trustee under section 97 of the Bankruptcy (Scotland) Act 1913,

(b)

any income of the bankrupt which has been ordered, under subsection (2) of section 98 of that Act, to be paid to the trustee or any estate which, under subsection (1) of that section, vests in the trustee,

,

and sub-paragraph (3) above shall have effect as if, for the reference in it to the 1985 Act, there were substituted a reference to the said Act of 1913.

Bankruptcy in England and Wales of person holding realisable or forfeitable property2(1)

Where a person who holds realisable or forfeitable property is adjudged bankrupt—

(a)

property, other than heritable property situated in Scotland, for the time being subject to a restraint order made before the order adjudging him bankrupt and heritable property situated in Scotland for the time being subject to a restraint order recorded in the General Register of Sasines or, as the case may be, registered in the Land Register of Scotland before the order adjudging him bankrupt was made; and

(b)

any proceeds of property realised by virtue of paragraph 1 of Schedule 3 to this Act for the time being in the hands of an administrator appointed under that paragraph,

is excluded from the bankrupt’s estate for the purposes of Part IX of the Insolvency Act 1986.

(2)

Where a person has been adjudged bankrupt, the powers conferred on the court by sections 94 to 99 and 101 to 104 of this Act or on an administrator appointed under paragraph 1 of the said Schedule 3 shall not be exercised in relation to—

(a)

property for the time being comprised in the bankrupt’s estate for the purposes of the said Part IX;

(b)

property in respect of which his trustee in bankruptcy may (without leave of the court) serve a notice under section 307, 308 or 308A of the Insolvency Act 1986 (after-acquired property and tools, clothes, etc. exceeding value of reasonable replacement and certain tenancies); and

(c)

property which is to be applied for the benefit of creditors of the bankrupt by virtue of a condition imposed under section 280(2)(c) of the Insolvency Act 1986.

(3)

Nothing in the Insolvency Act 1986 shall be taken as restricting, or enabling the restriction of, the exercise of the powers so conferred.

(4)

Where, in the case of a debtor, an interim receiver stands appointed under section 286 of the Insolvency Act 1986 and any property of the debtor is subject to a restraint order the powers conferred on the receiver by virtue of that Act do not apply to property for the time being subject to the restraint order.

(5)

Where a person is adjudged bankrupt and has directly or indirectly made a gift caught by Chapter I of Part II of this Act—

(a)

no order shall, at any time when proceedings for an offence to which Part VI of the Criminal Justice Act 1988 applies have been instituted against him and have not been concluded or when property of the person to whom the gift was made is subject to a restraint order, be made under section 339 or 423 of the Insolvency Act 1986 (avoidance of certain transactions) in respect of the making of the gift, and

(b)

any order made under either of those sections after the conclusion of the proceedings shall take into account any realisation under this Act of property held by the person to whom the gift was made.

(6)

In any case in which a petition in bankruptcy was presented, or a receiving order or adjudication in bankruptcy was made, before the date on which the Insolvency Act 1986 came into force, sub-paragraphs (2) to (5) above have effect with the following modifications—

(a)

for references to the bankrupt’s estate for the purposes of Part IX of that Act there are substituted references to the property of the bankrupt for the purposes of the Bankruptcy Act 1914;

(b)

for references to the said Act of 1986 and to sections 280(2)(c), 286, 339, and 423 of that Act there are respectively substituted references to the said Act of 1914 and to sections 26(2), 8, 27 and 42 of that Act;

(c)

the references in subsection (4) to an interim receiver appointed as there mentioned include, where a receiving order has been made, a reference to the receiver constituted by virtue of section 7 of the said Act of 1914, and

(d)

subsection (2)(b) is omitted.

Winding up of company holding realisable or forfeitable property3(1)

Where realisable or forfeitable property is held by a company and an order for the winding up of the company has been made or a resolution has been passed by the company for the voluntary winding up, the functions of the liquidator (or any provisional liquidator) shall not be exercisable in relation to—

(a)

property, other than heritable property situated in Scotland, for the time being subject to a restraint order made before the relevant time and heritable property situated in Scotland for the time being subject to a restraint order recorded in the General Register of Sasines or, as the case may be, registered in the Land Register of Scotland before the relevant time; and

(b)

any proceeds of property realised by virtue of paragraph 1 of Schedule 3 to this Act for the time being in the hands of an administrator appointed under that paragraph.

(2)

Where, in the case of a company, such an order has been made or such a resolution has been passed, the powers conferred on the court by sections 94 to 99 and 101 to 104 of this Act or on an administrator appointed under paragraph 1 of the said Schedule 3 shall not be exercised in relation to any realisable or forfeitable property held by the company in relation to which the functions of the liquidator are exercisable—

(a)

so as to inhibit the liquidator from exercising those functions for the purpose of distributing any property held by the company to the company’s creditors; or

(b)

so as to prevent the payment out of any property of expenses (including the remuneration of the liquidator or any provisional liquidator) properly incurred in the winding up in respect of the property.

(3)

Nothing in the Insolvency Act 1986 shall be taken as restricting, or enabling the restriction of, the exercise of the powers so conferred.

(4)

For the purposes of the application of Parts IV and V of the Insolvency Act 1986 (winding up of registered companies and winding up of unregistered companies) to a company which the court has jurisdiction to wind up, a person is not a creditor in so far as any sum due to him by the company is due in respect of a confiscation order (whether under this Act or under and within the meaning of section 2 of the Drug Trafficking Act 1994 or section 1 of the 1987 Act or any corresponding provision in Northern Ireland).

(5)

Where an order for the winding up of a company has been made or a resolution has been passed by a company for its voluntary winding up and before the relevant time the company has directly or indirectly made a gift caught by Chapter I of Part II of this Act—

(a)

no order or, as the case may be, decree shall, at any time when proceedings as regards an offence to which that Chapter applies have been instituted against the company and have not been concluded or when property of the person to whom the gift was made is subject to a restraint order, be made under section 238 or 239 of the Insolvency Act 1986 (transactions at an undervalue and preferences) or granted under section 242 or 243 of that Act (gratuitous alienations and unfair preferences) in respect of the making of the gift; and

(b)

any order made under either of the said sections 242 and 243 or decree granted under either of the said sections 242 or 243 after the conclusion of the proceedings shall take into account any realisation under Part II of this Act of property held by the person to whom the gift was made.

(6)

In this paragraph—

company” means any company which may be wound up under the Insolvency Act 1986; and

the relevant time” means—

(a)

where no order for the winding up of the company has been made, the time of the passing of the resolution for voluntary winding up;

(b)

where such an order has been made and, before the presentation of the petition for the winding up of the company by the court, such a resolution had been passed by the company, the time of the passing of the resolution; and

(c)

in any other case where such an order has been made, the time of the making of the order.

(7)

In any case in which a winding up of a company commenced, or is treated as having commenced, before the date on which the Insolvency Act 1986 came into force, sub-paragraphs (2) to (6) above have effect with the substitution for references to that Act of references to the Companies Act 1985.

Property subject to floating charge4(1)

Where any property held subject to a floating charge by a company is realisable or forfeitable property and a receiver has been appointed by, or on the application of, the holder of the charge, the powers of the receiver in relation to the property so held shall not be exercisable in relation to—

(a)

so much of it, not being heritable property situated in Scotland, as is for the time being subject to a restraint order made before the appointment of the receiver and so much of it, being heritable property situated in Scotland, as is for the time being subject to a restraint order recorded in the General Register of Sasines or, as the case may be, registered in the Land Register of Scotland before the such appointment; and

(b)

any proceeds of property realised by virtue of paragraph 1 of Schedule 3 to this Act for the time being in the hands of an administrator appointed under that paragraph.

(2)

Where, in the case of a company, such an appointment has been made, the powers conferred on the court by sections 94 to 99 and 101 to 104 of this Act or on an administrator appointed under paragraph 1 of the said Schedule 3 shall not be exercised in relation to any realisable property held by the company in relation to which the powers of the receiver are exercisable—

(a)

so as to inhibit the receiver from exercising his powers for the purpose of distributing any property held by the company to the company’s creditors; or

(b)

so as to prevent the payment out of any property of expenses (including the remuneration of the receiver) properly incurred in the exercise of the receiver’s powers in respect of the property.

(3)

Nothing in the Insolvency Act 1986, shall be taken as restricting, or enabling the restriction of, the exercise of the powers so conferred.

(4)

In this paragraph—

company” has the same meaning as in paragraph 3 above; and

floating charge” includes a floating charge within the meaning given by section 462 of the Companies Act 1985 (power of incorporated company to create floating charge).

(5)

In any case in which a receiver was appointed as is mentioned in sub-paragraph (1) above before the date on which the Insolvency Act 1986 came into force, sub-paragraphs (2) to (4) above have effect with the substitution for references to that Act of references to the Companies Act 1985.

Insolvency practitioners dealing with property subject to restraint order5(1)

Without prejudice to the generality of any enactment contained in the Insolvency Act 1986 or in the 1985 Act, where—

(a)

any person acting as an insolvency practitioner seizes or disposes of any property in relation to which his functions are, because that property is for the time being subject to a restraint order, not exercisable; and

(b)

at the time of the seizure or disposal he believes, and has reasonable grounds for believing, that he is entitled (whether in pursuance of a court order or otherwise) to seize or dispose of that property,

he shall not be liable to any person in respect of any loss or damage resulting from the seizure or disposal except in so far as the loss or damage is caused by the insolvency practitioner’s negligence; and the insolvency practitioner shall have a lien on the property, or the proceeds of its sale, for such of his expenses as were incurred in connection with the liquidation, sequestration or other proceedings in relation to which the seizure or disposal purported to take place and for so much of his remuneration as may reasonably be assigned for his actings in connection with those proceedings.

(2)

Any person who, acting as an insolvency practitioner, incurs expenses—

(a)

in respect of such realisable property as is mentioned in sub-paragraph (1)(a) above and in so doing does not know and has no reasonable grounds to believe that the property is for the time being subject to a restraint order; or

(b)

other than in respect of such realisable property as is so mentioned, being expenses which, but for the effect of a restraint order, might have been met by taking possession of and realising the property,

shall be entitled (whether or not he has seized or disposed of that property so as to have a lien under sub-paragraph (1) above) to payment of those expenses under paragraph 4(2) or (4)(a) of Schedule 3 to this Act.

(3)

In the foregoing provisions of this paragraph, the expression “acting as an insolvency practitioner” shall be construed in accordance with section 388 (interpretation) of the said Act of 1986 except that for the purposes of such construction the reference in subsection (2)(a) of that section to a permanent or interim trustee in a sequestration shall be taken to include a reference to a trustee in a sequestration and subsection (5) of that section shall be disregarded; and the expression shall also comprehend the official receiver acting as receiver or manager of the property.

Interpretation6(1)

In this Schedule “the 1985 Act” means the Bankruptcy (Scotland) Act 1985.

(2)

References in this Schedule to the conclusion of proceedings, except for the purposes of paragraph 2(5) above, shall be construed—

(a)

as regards property subject to a restraint order under section 94(1)(a) of this Act, in accordance with section 95(6) of this Act; and

(b)

as regards property subject to a restraint order under section 94(1)(b) of this Act, in accordance with section 96(5) of this Act.

(3)

References in this Schedule to property held by a person include a reference to property vested in the interim or permanent trustee in his sequestration or in his trustee in bankruptcy or liquidation.

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.
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.
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.
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.
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.
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c1524052" marker="M9">
<p>
<ref eId="c01356" href="http://www.legislation.gov.uk/id/ukpga/1986/45">1986 c. 45</ref>
.
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c1524053" marker="M10">
<p>
<ref eId="c01357" href="http://www.legislation.gov.uk/id/ukpga/1985/6">1985 c. 6</ref>
.
</p>
</note>
<note ukl:Name="Commentary" ukl:Type="M" class="commentary M" eId="c1524060" marker="M11">
<p>
<ref eId="c01358" href="http://www.legislation.gov.uk/id/ukpga/1985/66">1985 c. 66</ref>
.
</p>
</note>
</notes>
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<dc:identifier>http://www.legislation.gov.uk/ukpga/1995/20/schedule/4/1996-03-05</dc:identifier>
<dc:title>Criminal Justice (Scotland) Act 1995</dc:title>
<dc:description>An Act to amend the criminal justice system of Scotland as respects criminal proceedings, the investigation of offences, the sentences and other disposals applicable in respect of certain offences, legal aid in relation to certain appeals, and the treatment of offenders; to amend the law of Scotland in relation to confiscation of the proceeds of, and forfeiture of property used in, crime; to make further provision as respects Scotland in relation to the preparation of jury lists for the purposes of criminal and civil trials; and for connected purposes.</dc:description>
<dc:date>1995-07-19</dc:date>
<dc:type>text</dc:type>
<dc:format>text/xml</dc:format>
<dc:language>en</dc:language>
<dc:publisher>Statute Law Database</dc:publisher>
<dc:modified>2011-05-27</dc:modified>
<dct:valid>1996-03-05</dct:valid>
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<ukm:DocumentCategory Value="primary"/>
<ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/>
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<ukm:Year Value="1995"/>
<ukm:Number Value="20"/>
<ukm:EnactmentDate Date="1995-07-19"/>
<ukm:ISBN Value="0105420956"/>
</ukm:PrimaryMetadata>
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<ukm:Alternative URI="http://www.legislation.gov.uk/ukpga/1995/20/pdfs/ukpga_19950020_en.pdf" Date="2015-02-15"/>
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<ukm:TotalParagraphs Value="450"/>
<ukm:BodyParagraphs Value="154"/>
<ukm:ScheduleParagraphs Value="296"/>
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</meta>
<body>
<hcontainer name="schedules" eId="schedules">
<heading> SCHEDULES</heading>
<hcontainer name="schedule" eId="schedule-4" uk:target="true">
<num>
SCHEDULE 4
<authorialNote class="referenceNote">
<p>Section 110.</p>
</authorialNote>
</num>
<heading>
Sequestration
<abbr title="et cetera" xml:lang="la">etc.</abbr>
of Persons Holding Realisable or Forfeitable Property
</heading>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-crossheading-sequestration-of-person-holding-realisable-or-forfeitable-property">
<heading> Sequestration of person holding realisable or forfeitable property</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e85">
<heading/>
<paragraph eId="schedule-4-paragraph-1" class="schProv1">
<num>1</num>
<subparagraph eId="schedule-4-paragraph-1-1">
<num>(1)</num>
<intro>
<p>Where the estate of a person who holds realisable or forfeitable property is sequestrated—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-1-1-a">
<num>(a)</num>
<content>
<p>property, other than heritable property situated in Scotland, for the time being subject to a restraint order made before the date of sequestration (within the meaning of section 12(4) of the 1985 Act) and heritable property situated in Scotland for the time being subject to a restraint order recorded in the General Register of Sasines or, as the case may be, registered in the Land Register of Scotland before such date of sequestration; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-1-1-b">
<num>(b)</num>
<content>
<p>any proceeds of property realised by virtue of paragraph 1 of Schedule 3 to this Act for the time being in the hands of an administrator appointed under that paragraph,</p>
</content>
</level>
<wrapUp>
<p>is excluded from the debtor’s estate for the purposes of that Act.</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-1-2">
<num>(2)</num>
<intro>
<p>Where an award of sequestration has been made, the powers conferred on the court by sections 94 to 99 and 101 to 104 of this Act or on an administrator appointed under paragraph 1 of the said Schedule 3 shall not be exercised in relation to—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-1-2-a">
<num>(a)</num>
<content>
<p>property comprised in the whole estate of the debtor (within the meaning of section 31(8) of the 1985 Act); or</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-1-2-b">
<num>(b)</num>
<content>
<p>any income of the debtor which has been ordered, under subsection (2) of section 32 of that Act, to be paid to the permanent trustee or any estate which, under subsection (10) of section 31 of that Act or subsection (6) of the said section 32 of that Act, vests in the permanent trustee,</p>
</content>
</level>
<wrapUp>
<p>and it shall not be competent to submit a claim in relation to the confiscation order to the permanent trustee in accordance with section 48 of that Act.</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-1-3">
<num>(3)</num>
<content>
<p>Nothing in the 1985 Act shall be taken as restricting, or enabling the restriction of, the exercise of the powers so conferred.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-1-4">
<num>(4)</num>
<content>
<p>Where, during the period before sequestration is awarded, an interim trustee stands appointed under section 2(5) of the 1985 Act and any property in the debtor’s estate is subject to a restraint order, the powers conferred on the interim trustee by virtue of that Act do not apply to property for the time being subject to the restraint order.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-1-5">
<num>(5)</num>
<intro>
<p>Where the estate of a person is sequestrated and he has directly or indirectly made a gift caught by Chapter I of Part II of this Act—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-1-5-a">
<num>(a)</num>
<content>
<p>no decree shall, at any time when proceedings as regards an offence to which Chapter I of Part II of this Act applies have been instituted against him and have not been concluded or when property of the person to whom the gift was made is subject to a restraint order, be granted under section 34 or 36 of the 1985 Act (gratuitous alienations and unfair preferences) in respect of the making of the gift; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-1-5-b">
<num>(b)</num>
<content>
<p>any decree granted under either of the said sections 34 and 36 after the conclusion of the proceedings shall take into account any realisation under this Act of property held by the person to whom the gift was made.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-1-6">
<num>(6)</num>
<content>
<p>
<mod>
In any case in which, notwithstanding the coming into force of the 1985 Act, the
<noteRef href="#c1524030" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Bankruptcy (Scotland) Act 1913 applies to a sequestration, sub-paragraph (2) above shall have effect as if for paragraphs (a) and (b) thereof there were substituted the following paragraphs—
<quotedStructure startQuote="" endQuote="" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default">
<level class="para1">
<num>(a)</num>
<content>
<p>property comprised in the whole property of the debtor which vests in the trustee under section 97 of the Bankruptcy (Scotland) Act 1913,</p>
</content>
</level>
<level class="para1">
<num>(b)</num>
<content>
<p>any income of the bankrupt which has been ordered, under subsection (2) of section 98 of that Act, to be paid to the trustee or any estate which, under subsection (1) of that section, vests in the trustee,</p>
</content>
</level>
</quotedStructure>
<inline name="appendText">,</inline>
</mod>
</p>
</content>
</subparagraph>
<wrapUp>
<p>and sub-paragraph (3) above shall have effect as if, for the reference in it to the 1985 Act, there were substituted a reference to the said Act of 1913.</p>
</wrapUp>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-crossheading-bankruptcy-in-england-and-wales-of-person-holding-realisable-or-forfeitable-property">
<heading> Bankruptcy in England and Wales of person holding realisable or forfeitable property</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e189">
<heading/>
<paragraph eId="schedule-4-paragraph-2" class="schProv1">
<num>2</num>
<subparagraph eId="schedule-4-paragraph-2-1">
<num>(1)</num>
<intro>
<p>Where a person who holds realisable or forfeitable property is adjudged bankrupt—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-2-1-a">
<num>(a)</num>
<content>
<p>property, other than heritable property situated in Scotland, for the time being subject to a restraint order made before the order adjudging him bankrupt and heritable property situated in Scotland for the time being subject to a restraint order recorded in the General Register of Sasines or, as the case may be, registered in the Land Register of Scotland before the order adjudging him bankrupt was made; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-2-1-b">
<num>(b)</num>
<content>
<p>any proceeds of property realised by virtue of paragraph 1 of Schedule 3 to this Act for the time being in the hands of an administrator appointed under that paragraph,</p>
</content>
</level>
<wrapUp>
<p>
is excluded from the bankrupt’s estate for the purposes of Part IX of the
<noteRef href="#c1524034" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Insolvency Act 1986.
</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-2-2">
<num>(2)</num>
<intro>
<p>Where a person has been adjudged bankrupt, the powers conferred on the court by sections 94 to 99 and 101 to 104 of this Act or on an administrator appointed under paragraph 1 of the said Schedule 3 shall not be exercised in relation to—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-2-2-a">
<num>(a)</num>
<content>
<p>property for the time being comprised in the bankrupt’s estate for the purposes of the said Part IX;</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-2-2-b">
<num>(b)</num>
<content>
<p>
property in respect of which his trustee in bankruptcy may (without leave of the court) serve a notice under section 307, 308 or 308A of the Insolvency Act 1986 (after-acquired property and tools, clothes,
<abbr title="et cetera" xml:lang="la">etc.</abbr>
exceeding value of reasonable replacement and certain tenancies); and
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-2-2-c">
<num>(c)</num>
<content>
<p>property which is to be applied for the benefit of creditors of the bankrupt by virtue of a condition imposed under section 280(2)(c) of the Insolvency Act 1986.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-2-3">
<num>(3)</num>
<content>
<p>Nothing in the Insolvency Act 1986 shall be taken as restricting, or enabling the restriction of, the exercise of the powers so conferred.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-2-4">
<num>(4)</num>
<content>
<p>Where, in the case of a debtor, an interim receiver stands appointed under section 286 of the Insolvency Act 1986 and any property of the debtor is subject to a restraint order the powers conferred on the receiver by virtue of that Act do not apply to property for the time being subject to the restraint order.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-2-5">
<num>(5)</num>
<intro>
<p>Where a person is adjudged bankrupt and has directly or indirectly made a gift caught by Chapter I of Part II of this Act—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-2-5-a">
<num>(a)</num>
<content>
<p>
no order shall, at any time when proceedings for an offence to which Part VI of the
<noteRef href="#c1524035" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Criminal Justice Act 1988 applies have been instituted against him and have not been concluded or when property of the person to whom the gift was made is subject to a restraint order, be made under section 339 or 423 of the Insolvency Act 1986 (avoidance of certain transactions) in respect of the making of the gift, and
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-2-5-b">
<num>(b)</num>
<content>
<p>any order made under either of those sections after the conclusion of the proceedings shall take into account any realisation under this Act of property held by the person to whom the gift was made.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-2-6">
<num>(6)</num>
<intro>
<p>
In any case in which a petition in bankruptcy was presented, or a receiving order or adjudication in bankruptcy was made, before the date on which the
<noteRef href="#c1524036" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Insolvency Act 1986 came into force, sub-paragraphs (2) to (5) above have effect with the following modifications—
</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-2-6-a">
<num>(a)</num>
<content>
<p>
for references to the bankrupt’s estate for the purposes of Part IX of that Act there are substituted references to the property of the bankrupt for the purposes of the
<noteRef href="#c1524037" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Bankruptcy Act 1914;
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-2-6-b">
<num>(b)</num>
<content>
<p>for references to the said Act of 1986 and to sections 280(2)(c), 286, 339, and 423 of that Act there are respectively substituted references to the said Act of 1914 and to sections 26(2), 8, 27 and 42 of that Act;</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-2-6-c">
<num>(c)</num>
<content>
<p>the references in subsection (4) to an interim receiver appointed as there mentioned include, where a receiving order has been made, a reference to the receiver constituted by virtue of section 7 of the said Act of 1914, and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-2-6-d">
<num>(d)</num>
<content>
<p>subsection (2)(b) is omitted.</p>
</content>
</level>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-crossheading-winding-up-of-company-holding-realisable-or-forfeitable-property">
<heading> Winding up of company holding realisable or forfeitable property</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e313">
<heading/>
<paragraph eId="schedule-4-paragraph-3" class="schProv1">
<num>3</num>
<subparagraph eId="schedule-4-paragraph-3-1">
<num>(1)</num>
<intro>
<p>Where realisable or forfeitable property is held by a company and an order for the winding up of the company has been made or a resolution has been passed by the company for the voluntary winding up, the functions of the liquidator (or any provisional liquidator) shall not be exercisable in relation to—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-3-1-a">
<num>(a)</num>
<content>
<p>property, other than heritable property situated in Scotland, for the time being subject to a restraint order made before the relevant time and heritable property situated in Scotland for the time being subject to a restraint order recorded in the General Register of Sasines or, as the case may be, registered in the Land Register of Scotland before the relevant time; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-3-1-b">
<num>(b)</num>
<content>
<p>any proceeds of property realised by virtue of paragraph 1 of Schedule 3 to this Act for the time being in the hands of an administrator appointed under that paragraph.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-3-2">
<num>(2)</num>
<intro>
<p>Where, in the case of a company, such an order has been made or such a resolution has been passed, the powers conferred on the court by sections 94 to 99 and 101 to 104 of this Act or on an administrator appointed under paragraph 1 of the said Schedule 3 shall not be exercised in relation to any realisable or forfeitable property held by the company in relation to which the functions of the liquidator are exercisable—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-3-2-a">
<num>(a)</num>
<content>
<p>so as to inhibit the liquidator from exercising those functions for the purpose of distributing any property held by the company to the company’s creditors; or</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-3-2-b">
<num>(b)</num>
<content>
<p>so as to prevent the payment out of any property of expenses (including the remuneration of the liquidator or any provisional liquidator) properly incurred in the winding up in respect of the property.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-3-3">
<num>(3)</num>
<content>
<p>Nothing in the Insolvency Act 1986 shall be taken as restricting, or enabling the restriction of, the exercise of the powers so conferred.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-3-4">
<num>(4)</num>
<content>
<p>
For the purposes of the application of Parts IV and V of the
<noteRef href="#c1524044" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Insolvency Act 1986 (winding up of registered companies and winding up of unregistered companies) to a company which the court has jurisdiction to wind up, a person is not a creditor in so far as any sum due to him by the company is due in respect of a confiscation order (whether under this Act or under and within the meaning of section 2 of the Drug Trafficking Act 1994 or section 1 of the 1987 Act or any corresponding provision in Northern Ireland).
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-3-5">
<num>(5)</num>
<intro>
<p>Where an order for the winding up of a company has been made or a resolution has been passed by a company for its voluntary winding up and before the relevant time the company has directly or indirectly made a gift caught by Chapter I of Part II of this Act—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-3-5-a">
<num>(a)</num>
<content>
<p>
no order or, as the case may be, decree shall, at any time when proceedings as regards an offence to which that Chapter applies have been instituted against the company and have not been concluded or when property of the person to whom the gift was made is subject to a restraint order, be made under section 238 or 239 of the
<noteRef href="#c1524045" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Insolvency Act 1986 (transactions at an undervalue and preferences) or granted under section 242 or 243 of that Act (gratuitous alienations and unfair preferences) in respect of the making of the gift; and
</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-3-5-b">
<num>(b)</num>
<content>
<p>any order made under either of the said sections 242 and 243 or decree granted under either of the said sections 242 or 243 after the conclusion of the proceedings shall take into account any realisation under Part II of this Act of property held by the person to whom the gift was made.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-3-6">
<num>(6)</num>
<intro>
<p>In this paragraph—</p>
</intro>
<hcontainer name="definition">
<content>
<p>
<term refersTo="#term-company" eId="term-company">company</term>
” means any company which may be wound up under the Insolvency Act 1986; and
</p>
</content>
</hcontainer>
<hcontainer name="definition">
<content>
<p>
<term refersTo="#term-the-relevant-time" eId="term-the-relevant-time">the relevant time</term>
” means—
</p>
</content>
</hcontainer>
<level class="para1" eId="schedule-4-paragraph-3-6-a">
<num>(a)</num>
<content>
<p>where no order for the winding up of the company has been made, the time of the passing of the resolution for voluntary winding up;</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-3-6-b">
<num>(b)</num>
<content>
<p>where such an order has been made and, before the presentation of the petition for the winding up of the company by the court, such a resolution had been passed by the company, the time of the passing of the resolution; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-3-6-c">
<num>(c)</num>
<content>
<p>in any other case where such an order has been made, the time of the making of the order.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-3-7">
<num>(7)</num>
<content>
<p>
In any case in which a winding up of a company commenced, or is treated as having commenced, before the date on which the
<noteRef href="#c1524046" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Insolvency Act 1986 came into force, sub-paragraphs (2) to (6) above have effect with the substitution for references to that Act of references to the Companies Act 1985.
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-crossheading-property-subject-to-floating-charge">
<heading> Property subject to floating charge</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e439">
<heading/>
<paragraph eId="schedule-4-paragraph-4" class="schProv1">
<num>4</num>
<subparagraph eId="schedule-4-paragraph-4-1">
<num>(1)</num>
<intro>
<p>Where any property held subject to a floating charge by a company is realisable or forfeitable property and a receiver has been appointed by, or on the application of, the holder of the charge, the powers of the receiver in relation to the property so held shall not be exercisable in relation to—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-4-1-a">
<num>(a)</num>
<content>
<p>so much of it, not being heritable property situated in Scotland, as is for the time being subject to a restraint order made before the appointment of the receiver and so much of it, being heritable property situated in Scotland, as is for the time being subject to a restraint order recorded in the General Register of Sasines or, as the case may be, registered in the Land Register of Scotland before the such appointment; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-4-1-b">
<num>(b)</num>
<content>
<p>any proceeds of property realised by virtue of paragraph 1 of Schedule 3 to this Act for the time being in the hands of an administrator appointed under that paragraph.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-4-2">
<num>(2)</num>
<intro>
<p>Where, in the case of a company, such an appointment has been made, the powers conferred on the court by sections 94 to 99 and 101 to 104 of this Act or on an administrator appointed under paragraph 1 of the said Schedule 3 shall not be exercised in relation to any realisable property held by the company in relation to which the powers of the receiver are exercisable—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-4-2-a">
<num>(a)</num>
<content>
<p>so as to inhibit the receiver from exercising his powers for the purpose of distributing any property held by the company to the company’s creditors; or</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-4-2-b">
<num>(b)</num>
<content>
<p>so as to prevent the payment out of any property of expenses (including the remuneration of the receiver) properly incurred in the exercise of the receiver’s powers in respect of the property.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-4-3">
<num>(3)</num>
<content>
<p>
Nothing in the
<noteRef href="#c1524052" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Insolvency Act 1986, shall be taken as restricting, or enabling the restriction of, the exercise of the powers so conferred.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-4-4">
<num>(4)</num>
<intro>
<p>In this paragraph—</p>
</intro>
<hcontainer name="definition">
<content>
<p>
<term refersTo="#term-company" eId="term-company">company</term>
” has the same meaning as in paragraph 3 above; and
</p>
</content>
</hcontainer>
<hcontainer name="definition">
<content>
<p>
<term refersTo="#term-floating-charge" eId="term-floating-charge">floating charge</term>
” includes a floating charge within the meaning given by section 462 of the
<noteRef href="#c1524053" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Companies Act 1985 (power of incorporated company to create floating charge).
</p>
</content>
</hcontainer>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-4-5">
<num>(5)</num>
<content>
<p>In any case in which a receiver was appointed as is mentioned in sub-paragraph (1) above before the date on which the Insolvency Act 1986 came into force, sub-paragraphs (2) to (4) above have effect with the substitution for references to that Act of references to the Companies Act 1985.</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-crossheading-insolvency-practitioners-dealing-with-property-subject-to-restraint-order">
<heading> Insolvency practitioners dealing with property subject to restraint order</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e521">
<heading/>
<paragraph eId="schedule-4-paragraph-5" class="schProv1">
<num>5</num>
<subparagraph eId="schedule-4-paragraph-5-1">
<num>(1)</num>
<intro>
<p>Without prejudice to the generality of any enactment contained in the Insolvency Act 1986 or in the 1985 Act, where—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-5-1-a">
<num>(a)</num>
<content>
<p>any person acting as an insolvency practitioner seizes or disposes of any property in relation to which his functions are, because that property is for the time being subject to a restraint order, not exercisable; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-5-1-b">
<num>(b)</num>
<content>
<p>at the time of the seizure or disposal he believes, and has reasonable grounds for believing, that he is entitled (whether in pursuance of a court order or otherwise) to seize or dispose of that property,</p>
</content>
</level>
<wrapUp>
<p>he shall not be liable to any person in respect of any loss or damage resulting from the seizure or disposal except in so far as the loss or damage is caused by the insolvency practitioner’s negligence; and the insolvency practitioner shall have a lien on the property, or the proceeds of its sale, for such of his expenses as were incurred in connection with the liquidation, sequestration or other proceedings in relation to which the seizure or disposal purported to take place and for so much of his remuneration as may reasonably be assigned for his actings in connection with those proceedings.</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-5-2">
<num>(2)</num>
<intro>
<p>Any person who, acting as an insolvency practitioner, incurs expenses—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-5-2-a">
<num>(a)</num>
<content>
<p>in respect of such realisable property as is mentioned in sub-paragraph (1)(a) above and in so doing does not know and has no reasonable grounds to believe that the property is for the time being subject to a restraint order; or</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-5-2-b">
<num>(b)</num>
<content>
<p>other than in respect of such realisable property as is so mentioned, being expenses which, but for the effect of a restraint order, might have been met by taking possession of and realising the property,</p>
</content>
</level>
<wrapUp>
<p>shall be entitled (whether or not he has seized or disposed of that property so as to have a lien under sub-paragraph (1) above) to payment of those expenses under paragraph 4(2) or (4)(a) of Schedule 3 to this Act.</p>
</wrapUp>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-5-3">
<num>(3)</num>
<content>
<p>
In the foregoing provisions of this paragraph, the expression “
<term refersTo="#term-acting-as-an-insolvency-practitioner" eId="term-acting-as-an-insolvency-practitioner">acting as an insolvency practitioner</term>
” shall be construed in accordance with section 388 (interpretation) of the said Act of 1986 except that for the purposes of such construction the reference in subsection (2)(a) of that section to a permanent or interim trustee in a sequestration shall be taken to include a reference to a trustee in a sequestration and subsection (5) of that section shall be disregarded; and the expression shall also comprehend the official receiver acting as receiver or manager of the property.
</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
<hcontainer name="crossheading" ukl:Name="Pblock" eId="schedule-4-crossheading-interpretation">
<heading> Interpretation</heading>
<hcontainer name="subheading" class="schGroup7" eId="d25e579">
<heading/>
<paragraph eId="schedule-4-paragraph-6" class="schProv1">
<num>6</num>
<subparagraph eId="schedule-4-paragraph-6-1">
<num>(1)</num>
<content>
<p>
In this Schedule “
<term refersTo="#term-the-1985-act" eId="term-the-1985-act">the 1985 Act</term>
” means the
<noteRef href="#c1524060" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
Bankruptcy (Scotland) Act 1985.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-6-2">
<num>(2)</num>
<intro>
<p>References in this Schedule to the conclusion of proceedings, except for the purposes of paragraph 2(5) above, shall be construed—</p>
</intro>
<level class="para1" eId="schedule-4-paragraph-6-2-a">
<num>(a)</num>
<content>
<p>as regards property subject to a restraint order under section 94(1)(a) of this Act, in accordance with section 95(6) of this Act; and</p>
</content>
</level>
<level class="para1" eId="schedule-4-paragraph-6-2-b">
<num>(b)</num>
<content>
<p>as regards property subject to a restraint order under section 94(1)(b) of this Act, in accordance with section 96(5) of this Act.</p>
</content>
</level>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-6-3">
<num>(3)</num>
<content>
<p>References in this Schedule to property held by a person include a reference to property vested in the interim or permanent trustee in his sequestration or in his trustee in bankruptcy or liquidation.</p>
</content>
</subparagraph>
</paragraph>
</hcontainer>
</hcontainer>
</hcontainer>
</hcontainer>
</body>
</act>
</akomaNtoso>