Singapore legislation
Section 16
Section 16
Application of proceeds of realisation and other sums
(1)
Subject to subsection (2), the following sums in the hands of the Public Trustee or any receiver pursuant to section 12 or 15 or in pursuance of a charging order, that is —
the proceeds of the enforcement of any charge imposed under section 13;
the proceeds of the realisation, other than by the enforcement of such a charge, of any property under section 12 or 15; and
any other sums, being property held by the defendant,shall, after such payments (if any) as the High Court may direct have been made out of those sums, be applied on the defendant’s behalf towards the satisfaction of the confiscation order.
(2)
If, after the amount payable under the confiscation order has been fully paid, any such sums remain in the hands of the Public Trustee or receiver, he shall distribute those sums —
among such of those who held property which has been realised under this Act; and
in such proportions,as the High Court may direct after giving a reasonable opportunity for such persons to make representations to the Court.