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This guidance describes the general functions of Accountant in Bankruptcy, interim trustees, trustees and commissioners in relation to their responsibilities regarding bankruptcies which started on or after 30 November 2016.
The following property is excluded from the debtor’s estate in terms of the Act:
property subject to a restraint order made under section 41, 120 or 190 of the 2002 Act
property subject to an order under section 50 (confiscation orders) of the 2002 Act
property for which an enforcement administrator has been appointed to deal
If a restraint order has been made in relation to heritable property the property will only not vest if the restraint order is registered in the Sasines or Land Register before the award of bankruptcy.