C1C2Part 4Confiscation: Northern Ireland

Annotations:
Modifications etc. (not altering text)
C2

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).