This is the original version (as it was originally enacted).
(1)If a person grants an interest in his recoverable property, the question whether the interest is also recoverable is to be determined in the same manner as it is on any other disposal of recoverable property.
(2)Accordingly, on his granting an interest in the property (“the property in question”)—
(a)where the property in question is property obtained through unlawful conduct, the interest is also to be treated as obtained through that conduct,
(b)where the property in question represents in his hands property obtained through unlawful conduct, the interest is also to be treated as representing in his hands the property so obtained.
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