Part 2Confiscation: England and Wales

Application of sums

54 Enforcement receivers

(1)

This section applies to sums which are in the hands of a receiver appointed under section 50 if they are—

(a)

the proceeds of the realisation of property under section 51;

(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.

(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).

(6)

The receiver applies sums as mentioned in subsection (2)(c) by paying them to the appropriate F1designated officer on account of the amount payable under the order.

(7)

The appropriate F1designated officer is the one for the magistrates’ court responsible for enforcing the confiscation order as if the amount ordered to be paid were a fine.