Policing and Crime Act 2009

Insolvency Act 1986 (c. 45) U.K.

53 U.K. The Insolvency Act 1986 is amended as follows.

Commencement Information

I1 Sch. 7 para. 53 in force at 1.6.2015 by S.I. 2015/983, arts. 2(2)(e), 3(f)

54 (1) Section 306A (property subject to restraint order) is amended as follows. U.K.

(2) In subsection (1)—

(a) in paragraph (b) for “section 50, 128 or 198” substitute “section 50, 67A, 128, 131A, 198 or 215A”, and

(b) after paragraph (c) insert

“, and

(d) immediately after the discharge of the restraint order the property is not detained under or by virtue of section 44A, 47J, 122A, 127J, 193A or 195J of that Act.”

(3) For subsection (2) substitute—

“(2) The property vests in the trustee as part of the bankrupt's estate.”

Commencement Information

I2 Sch. 7 para. 54 in force at 1.6.2015 for specified purposes by S.I. 2015/983, arts. 2(2)(e), 3(g)

I3 Sch. 7 para. 54 in force at 1.3.2016 in so far as not already in force by S.I. 2016/147, art. 3(i)

55 U.K. After section 306A insert—

“306AA Property released from detention

(1) This section applies where—

(a) property is excluded from the bankrupt's estate by virtue of section 417(2)(b) of the Proceeds of Crime Act 2002 (property detained under certain provisions),

(b) no order is in force in respect of the property under section 41, 50, 120, 128, 190 or 198 of that Act, and

(c) the property is released.

(2) The property vests in the trustee as part of the bankrupt's estate.”

Commencement Information

I4 Sch. 7 para. 55 in force at 1.6.2015 by S.I. 2015/983, arts. 2(2)(e), 3(h)

56 U.K. In section 306B(1)(a) (property in respect of which receivership or administration order is made) for “section 417(2)(b), (c) or (d)” substitute “section 417(2)(c)”.

Commencement Information

I5 Sch. 7 para. 56 in force at 1.6.2015 by S.I. 2015/983, arts. 2(2)(e), 3(h)

57 U.K. After section 306B insert—

“306BA Property in respect of which realisation order made

(1) This section applies where—

(a) property is excluded from the bankrupt's estate by virtue of section 417(2)(d) of the Proceeds of Crime Act 2002 (property in respect of which an order has been made authorising realisation of the property by an appropriate officer),

(b) a confiscation order is made under section 6, 92 or 156 of that Act,

(c) the amount payable under the confiscation order is fully paid, and

(d) any of the property remains in the hands of the appropriate officer.

(2) The property vests in the trustee as part of the bankrupt's estate.”

Commencement Information

I6 Sch. 7 para. 57 in force at 1.6.2015 by S.I. 2015/983, arts. 2(2)(e), 3(h)

58 (1) Section 306C (property subject to certain orders where confiscation order discharged or quashed) is amended as follows. U.K.

(2) In subsection (1)(a) for the words from “in respect” to “force” substitute “excluded from bankrupt's estate”.

(3) For subsection (2) substitute—

“(2) Any such property vests in the trustee as part of the bankrupt's estate if it is in the hands of—

(a) a receiver appointed under Part 2 or 4 of that Act,

(b) an administrator appointed under Part 3 of that Act,

(c) an appropriate officer (within the meaning of section 41A, 120A or 190A of that Act).”

Commencement Information

I7 Sch. 7 para. 58 in force at 1.6.2015 for specified purposes by S.I. 2015/983, arts. 2(2)(e), 3(i)

I8 Sch. 7 para. 58 in force at 1.3.2016 in so far as not already in force by S.I. 2016/147, art. 3(i)