Section 62Part 2 — The Financial Reporting Authority
Powers of court and receiver
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This section applies to —
the powers conferred on a court by sections 45 to 56 and sections 57 to 61 ; and
the powers of a receiver appointed under section 52 .
Subject to subsection
, the powers referred to in subsection (1) —
shall be exercised with a view to the value for the time being of realisable property being made available (by the property ’ s realisation) for satisfying any confiscation order tha t has been or may be made against the defendant;
shall be exercised, in a case where a confiscation order has not been made, with a view to securing that there is no diminution in the value of realisable property;
shall be exercised without taking account of any obligation of the defendant or a recipient of a tainted gift if the obligation conflicts with the object of satisfying any confiscation order that has been or may be made against the defendant; and
may be exercised in respect of a debt o wed by the Crown. ( 3 ) Subsection (2) has effect subject to the following — ( a ) the powers shall be exercised with a view to allowing a person other than the defendant or a recipient of a tainted gift to retain or recover the value of any interest held by that person ; ( b ) in the case of realisable property held by a recipient of a tainted gift, the powers shall be exercised with a view to realising no more than the value for the time being of the gift; and ( c ) in a case where a confiscation order has not bee n made against the defendant, property shall not be sold if the court so orders under subsection
. ( 4 ) Where on an application by the defendant or by the recipient of a tainted gift, the court decides that property cannot be replaced it may order that i t shall not be sold.
An order under subsection (4) may be revoked or varied. Committal