Bankruptcy Act 1988

Vesting in Official Assignee of certain money and securities.

(New)

47

47. F35 [ (1) ] F36 [ Subject to subsection (2) , notwithstanding ] any provision in any other enactment—

( a) money in the Post Office Savings Bank or in a trustee savings bank to which a bankrupt is entitled, or

( b) securities issued through An Post by the Minister for Finance under his statutory borrowing powers and to which a bankrupt is entitled,

shall, on the adjudication of the bankrupt, vest in the Official Assignee in the same manner as any other property.

F35 [ (2) Money or securities referred to in subsection (1) , which derive from

(a) payments to a bankrupt, before or after adjudication, made under a periodic payments order, other than any part of such payments which relates to damages in respect of future loss of earnings, or

(b) damages or compensation otherwise paid to a bankrupt, before or after adjudication, for a personal injury or loss suffered by him or her, other than any part of such damages or compensation which relates to damages in respect of future loss of earnings,

shall not vest in the Official Assignee. ]

Annotations:

Amendments:

F35

Inserted (1.10.2018) by Civil Liability (Amendment) Act 2017 (30/2017), s. 4(d)(ii), (iii), S.I. No. 377 of 2018.

F36

Substituted (1.10.2018) by Civil Liability (Amendment) Act 2017 (30/2017), s. 4(d)(i), S.I. No. 377 of 2018.