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- (b) shall not be paid until they have been paid in full with interest under the relevant provision.
(3) In sub-paragraph (2)(b) the “relevant provision” means—
- (a) in relation to the winding up of a company in England and Wales or Scotland, section 189(2) of the 1986 c. 45.Insolvency Act 1986,
- (b) in relation to a bankruptcy in England and Wales, section 328(4) of that Act,
- (c) in relation to the winding up of a company in Northern Ireland, Article 160(2) of the S.I. 1989/2405 (N.I. 19).Insolvency (Northern Ireland) Order 1989, and
- (d) in relation to a bankruptcy in Northern Ireland, Article 300(4) of that Order.
(4) In a sequestration, his debt shall rank after all of the debts mentioned in section 51(1) of the 1985 c. 66.Bankruptcy (Scotland) Act 1985 and shall not be paid until they have been paid in full.
(5) Sub-paragraphs (2) to (4) apply notwithstanding any provision contained in or made under any other enactment.
49.—(1) This paragraph applies to property which ceased to be subject to a forfeiture order by virtue of paragraph 47(3) in consequence of the making of a bankruptcy order or an award of sequestration.
(2) The property shall again become subject to the forfeiture order and, if applicable, any ancillary order if—
- (a) the bankruptcy order is annulled, or
- (b) the award of sequestration is recalled or reduced.
(3) Where the property is money or has been converted into money—
- (a) the relevant court shall make an order specifying property comprised in the estate of the bankrupt or debtor to the amount or value of the property, and
- (b) the specified property shall become subject to the forfeiture order, and any applicable ancillary order, in place of the property.
(4) In sub-paragraph (3) the “relevant court” means—
- (a) the court which ordered the annulment of the bankruptcy, or
- (b) the court which recalled or reduced the award of sequestration.
Expenses incurred in connection with forfeiture
50.—(1) Where money or other property falls to be dealt with in accordance with paragraph 47(3), the relevant officer may—
- (a) deduct allowable forfeiture expenses from that money;
- (b) retain so much of that property as he considers necessary for the purpose of realising it and deducting allowable forfeiture expenses from the proceeds of realisation.
(2) Where property is delivered up in pursuance of paragraph 47(3) and the relevant officer has not made provision under sub-paragraph (1) for all the allowable forfeiture expenses then—
- (a) a person who has incurred allowable forfeiture expenses for which provision has not been made shall have a claim to their value in the insolvency proceedings, and
- (b) the expenses in question shall be treated for the purposes of the insolvency proceedings as if they were expenses of those proceedings.
