SCHEDULE 3 Administrators: Further Provision
Proceeds of Crime Act 2002 (2002 c 29) | Legislation

SCHEDULE 3 Administrators: Further Provision

Section 137

General

1

In this Schedule, unless otherwise expressly provided—

(a)     references to an administrator are to an administrator appointed under section 125 or 128(3);

(b)     references to realisable property are to the realisable property in respect of which the administrator is appointed.

Appointment etc

2

(1)     If the office of administrator is vacant, for whatever reason, the court must appoint a new administrator.

(2)     Any property vested in the previous administrator by virtue of paragraph 5(4) vests in the new administrator.

(3)     Any order under section 125 or 128(7) in relation to the previous administrator applies in relation to the new administrator when he gives written notice of his appointment to the person subject to the order.

(4)     The administration of property by an administrator must be treated as continuous despite any temporary vacancy in that office.

(5)     The appointment of an administrator is subject to such conditions as to caution as the accountant of court may impose.

(6)     The premium of any bond of caution or other security required by such conditions must be treated as part of the administrator's expenses in the exercise of his functions.

Functions

3

(1)     An

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