(1) Subject to subsection (2), the following sums in the hands of a management receiver, that is—
(a) the proceeds of the realization of any property; and
(b) any other sums in which the defendant holds an interest,
shall, after the payment, if any, as the Court directs have been made out of those sums, be applied on the defendant's behalf towards the satisfaction of the confiscation order.
(2) Where, after the amount payable under the confiscation order has been fully paid, any sums remain in the hands of an management receiver, the management receiver shall distribute the sums—
(a) among those who held property which has been realized under this Act; and
(b) in proportions, as the Court directs after giving a reasonable opportunity for a person to make a representation to the Court.
(3) The receipt of any sum by the Registrar of the Court on account of an amount payable under a confiscation order shall reduce the amount so payable, and the Registrar of the Court shall apply the money received for the purposes specified in this section and in the order so specified.
(4) The Registrar of the Court shall first pay the receiver's remuneration and expenses if the money was paid to the Registrar of the Court by a receiver appointed under this Act.
(5) The Registrar of the Court shall, after making any payment under subsection (4), next apply the balance in his or her hands in payment of the outstanding amount of the compensation order.
(6) The balance in the hands of the Registrar of the Court after he or she has made all payments under this section must be paid into the Fund.
(Inserted by Act 18 of 2023)