s.18Available amount
18
Section 18Part 2 — The Financial Reporting Authority

Available amount

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For the purposes of deciding the recoverable amount, the available amount is the aggregate of —
the total of the values (at the time the confiscation order is made) of al l the free property then held by the defendant minus the total amount payable in pursuance of obligations which then have priority; and
the total of the values (at the time) of all tainted gifts.
An obligation has priority if it is an obligation of the defendant —
to pay an amount due in respect of a fine or other order of a court which was imposed or made on conviction of an offence and at any time before the time the confiscation order is made; or
to pay a sum which would be included among the preferential debts if a defendant ’ s bankruptcy had commenced on the date of the confiscation order or that person’s winding up had been ordered on that date.
“ Preferential debts ” has the meaning given by section 135 of the Bankruptcy Act ( 1997 Revision) .

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