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Proceeds of Crime (Scotland) Act 1995
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- UK Public General Acts
- 1995 c. 43
- SCHEDULE 1
- Effect of appointment of...
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Changes over time for: Cross Heading: Effect of appointment of administrator on diligence
Alternative versions:
- 01/04/1996- Amendment
- 30/12/2002- Amendment
- 22/04/2009- Amendment
- 22/04/2009
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Point in time view as at 22/04/2009.
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There are currently no known outstanding effects for the Proceeds of Crime (Scotland) Act 1995, Cross Heading: Effect of appointment of administrator on diligence.
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Effect of appointment of administrator on diligenceS
7SWithout prejudice to sections 32 and 33 of this Act—
(a)no arrestment or [F1attachment] of property executed on or after an appointment as regards the property under paragraph 1 above shall be effectual to create a preference for the arrester or poinder and any such property so arrested or poinded, or the proceeds of sale thereof, shall be handed over to the administrator;
(b)no poinding of the ground in respect of property on or after such appointment shall be effectual in a question with the administrator except for the interest on the debt of a secured creditor, being interest for the current half-yearly term and arrears of interest for one year immediately before the commencement of that term;
(c)it shall be incompetent on or after such appointment for any other person to F2. . . or to be confirmed as executor-creditor on that property; and
(d)no inhibition on property which takes effect on or after such appointment shall be effectual to create a preference for the inhibitor in a question with the administrator.
Textual Amendments
F1Word in Sch. 1 para. 7(a) substituted (30.12.2002) by Debt Arrangement and Attachment (Scotland) Act 2002 (asp 17), ss. 61, 64(2), Sch. 3 para. 24
F2Words in Sch. 1 para. 7(c) repealed (22.4.2009) by Bankruptcy and Diligence etc. (Scotland) Act 2007 (asp 3), ss. 226, 227, Sch. 6 (with s. 223); S.S.I. 2009/67, art. 3, Sch. 2 (with arts. 4-6)
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