Section 26: Application of monetary sums

26. Application of monetary sums (1) Monetary sums in the hands of a Trustee from his receipt of the property of the defendant or from the realisation of any property under section 25 shall, after any such payments as the Court may direct are made out of those sums, be paid to the Official Receiver and applied on the defendant's behalf towards the satisfaction of the Confiscation Order in the manner provided by subsection (3). (2) If, after full payment of the amount payable under the Confiscation Order, any sums referred to in subsection (1) remain in the hands of a Trustee, the Trustee shall distribute those sums among such of those persons who held property which has been realised under this Sub-Part and in such proportions as the Court directs, after giving a reasonable opportunity for those persons to make representations to the Court. A23A – 17 [Issue 5] Asset Recovery Act (3) Sums received by the Official Receiver in payment of amounts due under a Confiscation Order shall be applied as follows— (a) if received from a Trustee under subsection (1), they shall first be applied in payment of the Trustee’s remuneration and expenses; and (b) the balance shall be transferred to the Fund. PART IV – CIVIL ASSET RECOVERY Sub-Part A – Restriction Order