Section 308(1)

Subject to section 309, where— the trustee may by notice in writing claim that property or, as the case may be, that part of it, for the bankrupt’s estate. property is excluded by virtue of section 283(2) (tools of trade, household effects, etc.) from the bankrupt’s estate, and it appears to the trustee that the realisable value of the whole or any part of that property exceeds the cost of a reasonable replacement for that property or that part of it,

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Source: legislation.gov.uk · retrieved 2026-09-04