In forceAmended2020 Revised Edition

Contents

Insolvency, Restructuring and Dissolution Act 2018 · 2020 Revised Edition · Part 17 · Administration in Bankruptcy

368. Duties of Sheriff as to property taken under or pursuant to enforcement order

Amended

Last amended by an amending law of 2024. 2 amendments in all.

(1)

Where any property of a debtor is taken under or pursuant to an enforcement order, then, if before the completion of the execution of the enforcement order, notice is given to the Sheriff that a bankruptcy order has been made against the debtor, the Sheriff must deliver the property or the possession of the property and any such moneys to the Official Assignee.

(2)

The costs of and incidental to the enforcement order under subsection (1) are a first charge on the property or moneys, and the Official Assignee may sell the property or any adequate part of the property for the purpose of satisfying the charge.

(3)

Where an enforcement order for seizure and sale of property has been issued in respect of a judgment for a sum exceeding $2,000, the Sheriff must hold all moneys coming to the Sheriff’s hands under the enforcement order for seizure and sale of property for 14 days starting from the receipt of the moneys.

(4)

If —

(a)

within the time mentioned in subsection (3), notice is served on the Sheriff of a bankruptcy application having been made against or by the debtor; and

(b)

a bankruptcy order is made against the debtor on the bankruptcy application or on any other application of which the Sheriff has notice,the Sheriff must deduct the costs of and incidental to the execution of the enforcement order and pay the balance to the Official Assignee, who is entitled to retain the same as against the enforcement creditor.