C1C2Part 4Confiscation: Northern Ireland
Pt. 4 applied by S.I. 1989/1341 (N.I. 12), arts. 57(5B), 59(8B) (as substituted (24.3.2003) by Proceeds of Crime Act 2002 (c. 29), Supreme Court s. 458(1), Sch. 11 para. 19(2)(3); S.I. 2003/333, art. 2, Sch.)
Application of sums
I1C2204C2 Director’s receivers
1
This section applies to sums which are in the hands of a receiver appointed under section 200 if they are—
a
the proceeds of the realisation of property under section 201;
b
sums (other than those mentioned in paragraph (a)) in which the defendant holds an interest.
2
The sums must be applied as follows—
a
first, they must be applied in payment of such expenses incurred by a person acting as an insolvency practitioner as are payable under this subsection by virtue of section 432;
b
second, they must be applied in making any payments directed by the Crown Court;
c
third, they must be applied on the defendant’s behalf towards satisfaction of the confiscation order by being paid to the Director on account of the amount payable under it.
3
If the amount payable under the confiscation order has been fully paid and any sums remain in the receiver’s hands he must distribute them—
a
among such persons who held (or hold) interests in the property concerned as the Crown Court directs, and
b
in such proportions as it directs.
4
Before making a direction under subsection (3) the court must give persons who held (or hold) interests in the property concerned a reasonable opportunity to make representations to it.
5
For the purposes of subsections (3) and (4) the property concerned is—
a
the property represented by the proceeds mentioned in subsection (1)(a);
b
the sums mentioned in subsection (1)(b).
Pt. 4 functions of receiver extended (24.2.2003) by Proceeds of Crime Act 2002 (Enforcement in different parts of the United Kingdom) Order 2002 (S.I. 2002/3133), arts. 1, 4(1)(a)