Proceeds of Crime Act 2002
CHAPTER 2
-
THE CONFISCATION SCHEME
PART 2-4
-
PECUNIARY PENALTY ORDERS
Division 2
-
Penalty amounts
Subdivision B
-
The value of benefits derived from the commission of an offence
SECTION 129
129
Effect of property vesting in an insolvency trustee
In assessing the value of * benefits that a person has derived, the * person ' s property is taken to continue to be the person ' s property if it vests in any of the following:
(a) in relation to a bankruptcy - the trustee of the estate of the bankrupt; or
(b) in relation to a composition or scheme of arrangement under Division 6 of Part IV of the Bankruptcy Act 1966 - the trustee of the composition or scheme of arrangement; or
(c) in relation to a personal insolvency agreement under Part X of the Bankruptcy Act 1966 - the trustee of the agreement; or
(d) in relation to the estate of a deceased person in respect of which an order has been made under Part XI of the Bankruptcy Act 1966 - the trustee of the estate.
In assessing the value of * benefits that a person has derived, the * person ' s property is taken to continue to be the person ' s property if it vests in any of the following:
(a) in relation to a bankruptcy - the trustee of the estate of the bankrupt; or
(b) in relation to a composition or scheme of arrangement under Division 6 of Part IV of the Bankruptcy Act 1966 - the trustee of the composition or scheme of arrangement; or
(c) in relation to a personal insolvency agreement under Part X of the Bankruptcy Act 1966 - the trustee of the agreement; or
(d) in relation to the estate of a deceased person in respect of which an order has been made under Part XI of the Bankruptcy Act 1966 - the trustee of the estate.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.