Page 779 - IOM Law Society Rules Book

c.13 Proceeds of Crime Act 2008 401

(9) Subsection (10) also applies if —

(a) property is subject to a property freezing order made
under section 6 or an interim receiving order made under
section 13;

(b) a person acting as an insolvency practitioner incurs
expenses which are not ones in respect of property
subject to the order, and

(c) the expenses are ones which (but for the effect of the
order) might have been met by taking possession of
and realising property subject to it.

(10) Whether or not the insolvency practitioner has seized
or disposed of any property, the insolvency practitioner is entitled
to payment of the expenses under section 35.

209. (1) This section applies for the purposes of section 208. Meaning of
insolvency
practitioner
(2) A person acts as an insolvency practitioner if that person
acts — P2002/29/433

(a) as liquidator, provisional liquidator or receiver of a
company;

(b) as trustee in bankruptcy or interim receiver of a person’s
property;

(c) as trustee under a deed of arrangement made for the
benefit of a person’s creditors; or

(d) as administrator of an insolvent estate of a deceased
person.

(3) The expression “person acting as an insolvency
practitioner” includes the official receiver acting as receiver or
manager of the property concerned.

PART 6

INFORMATION

210. (1) Information obtained by or on behalf of the Attorney Use of
General in connection with the exercise of any of the Attorney information
in connection
General’s functions under any Part of this Act may be used by the with the
Attorney General in connection with the exercise of any other exercise of
functions
functions of the Attorney General (whether under, or in relation
to, another Part of this Act or otherwise). P2002/29/435