Bankruptcy Act 1988

Vesting in Official Assignee.

93

93. (1) If the proposal provides for the vesting of all or part of the arranging debtor's property in the Official Assignee either as security for an offer or for realisation and distribution, that property shall vest in the Official Assignee, if he consents, in accordance with the terms of the proposal on the approval of the proposal by the Court.

(2) Where all or part of the property is vested in the Official Assignee for realisation and distribution, the Official Assignee shall have for that purpose all such powers in relation to the property as he has in a bankruptcy matter. A proposal under which property is so vested is referred to in this Act as a “ vesting arrangement”.

(New)

(3) Section 46 (which relates to a certificate of vesting) shall apply to property which vests in the Official Assignee under this section.

Annotations:

Editorial Notes:

E34

Previous affecting provision: section repealed by Personal Insolvency Act 2012 (44/2012), s. 6 and sch. 1, not commenced; repealed (3.12.2013) by Courts and Civil Law (Miscellaneous Provisions) Act 2013 (32/2013), s. 37, S.I. No. 463 of 2013.