Schedules
Schedule 7Minor and consequential amendments
Part 6Proceeds of crime: confiscation
Proceeds of Crime Act 2002 (c. 29)
I1I292
1
Section 430 (restriction of powers where company holds property subject to floating charge) is amended as follows.
2
For subsection (2) substitute—
2
If a company holds property which is subject to a floating charge, and a receiver has been appointed by or on the application of the holder of the charge, the functions of the receiver are not exercisable in relation to the following property—
a
property for the time being subject to a restraint order which was made under section 41, 120 or 190 before the relevant time;
b
property for the time being detained under or by virtue of section 44A, 47J, 47K, 47M, 47P, 122A, 127J, 127K, 127M, 127P, 193A, 195J, 195K, 195M or 195P;
c
property in respect of which an order under section 50, 128(3) or 198 is in force;
d
property in respect of which an order under section 67A, 131A or 215A is in force.
3
In subsection (5)—
a
in paragraph (a) for “67” substitute “67B, the powers conferred on an appropriate officer by section 47C”
,
b
in paragraph (b) after “Schedule 3” insert “, the powers conferred on an appropriate officer by section 127C”
, and
c
in paragraph (c) for “215” substitute “215B, the powers conferred on an appropriate officer by section 195C”
.