Arrange a callback Bookmark us

  • Home
  • About
  • Contact
  • Sitemap

DRS - Debt Restructuring Solutions

FREE Phone Advice, Call 0800 169 1536

Home » Bankruptcy » Insolvency Act 1986 - Part IX - Bankruptcy » Chapter IV - Administration by Trustee » Insolvency Act 1986 - Bankruptcy » 306A. Property subject to restraint order

info@becomedebtfree.co.uk

  • Individual Voluntary Arrangements (IVA's)
  • Bankruptcy Return to homepage
    • Bankruptcy Annulment Service
    • Bankruptcy Petition Service
    • Bankruptcy FAQ's
    • Insolvency Act 1986 - Bankruptcy
    • Personal Insolvency Statistics
  • Debt Relief Orders (DRO's)
  • Debt Management Plans (DMP's)
  • Informal Agreement with Creditors
  • County Court Administration Order (CCAO)
  • Trust Deeds (Scotland)
  • Consolidation Loan
  • Mis-sold Payment Protection Insurance (PPI)
  • Debt Calculator

306A. Property subject to restraint order

(1) This section applies where -

(a) property is excluded from the bankrupt's estate by virtue of section 417(2)(a) of the Proceeds of Crime Act 2002 (property subject to a restraint order),

(b) an order under section 50, 128 or 198 of that Act has not been made in respect of the property, and

(c) the restraint order is discharged.

(2) On the discharge of the restraint order the property vests in the trustee as part of the bankrupt's estate.

(3) But subsection (2) does not apply to the proceeds of property realised by a management receiver under section 49(2)(d) or 197(2)(d) of that Act (realisation of property to meet receiver's remuneration and expenses).

FREE Phone Advice, Call 0800 169 1536

DRS - Debt Restructuring Solutions

Copyright All Rights Reserved DRS (GB) Ltd, 2009 - Terms and Conditions - Acknowledgements