Section 432(1)

Subsections (2) and (3) apply if a person acting as an insolvency practitioner seizes or disposes of any property in relation to which his functions are not exercisable because— and at the time of the seizure or disposal he believes on reasonable grounds that he is entitled (whether in pursuance of an order of a court or otherwise) to seize or dispose of the property. it is for the time being subject to a restraint order made under section 41, 120 or 190, or it is for the time being subject to a property freezing order made under section 245A, an interim receiving order made under section 246, a prohibitory property order made under section 255A or an interim administration order made under section 256,

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