Document ID: chunk:federal_register_of_legislation:C2004C01279:clause:4_58a
Version: federal_register_of_legislation:C2004C01279
Segment Type: clause
Provision Reference: sch 4 cl 58A
Character Range: 100224–101365

58A  Vesting of property upon bankruptcy—effect of orders in force under the proceeds of crime law

If a restraining order or forfeiture order is in force

 (1) If property of a bankrupt is covered by a restraining order, or a forfeiture order, made before the date of the bankruptcy, subsection 58(1) does not apply to property that is covered by the order while that property is so covered.

If a pecuniary penalty order is in force

 (2) If a pecuniary penalty order is made against a bankrupt before the date of the bankruptcy, subsection 58(1) does not apply to any of the property of the bankrupt while the order is in force.

Note: For proceeds of crime orders made on or after the date of the bankruptcy, and applications for proceeds of crime orders, see sections 114A to 114C.

Notifying the trustee of grounds for subsection 58(1) to apply to property

 (3) If circumstances arise as a result of which this section no longer prevents subsection 58(1) applying to property of the bankrupt, the Director of Public Prosecutions must, as soon as practicable, give the trustee written notice of the existence of the circumstances.