162Applications by owner for control and management of property

162 Applications by owner for control and management of property

[Section 162 Inserted by No. 60 of 2013, s. 12, Applied:01 Mar 2014]

(1)  An owner of restrained property may apply to the Supreme Court for an order to be made under subsection (2) in relation to the property.

(2)  On hearing an application under subsection (1) , the Supreme Court may, if it thinks fit, by order appoint the applicant –

(a) to control and manage the property while the wealth-restraining order is in force; or

(b) to sell or destroy the property.

(3)  If restrained property is sold in accordance with an order under subsection (2) , the proceeds of the sale –

(a) are taken to be property that is affected by the wealth-restraining order that was in effect in respect of the sold property; and

(b) must be transferred to the Public Trustee.