Section 47: Amounts that may be realised.

1 The amount realisable at the time of the making of a confiscation order against a convicted person shall be the amount equal to the sum of the values, at that time, of all —
a realisable property held by the convicted person; and
b less the sum of all priority obligations, where any, and which the Court may recognise for this purpose.

2 The value of an affected gift at the time of the making of the relevant confiscation order shall be—
a the value of the affected gift, at the time when the recipient received it, taking into account subsequent fluctuations in the value of money; or
b where subsection (3) applies, the value mentioned in that subsection, whichever is the greater value.

3 Where at the time of the making of the relevant confiscation order, the recipient holds the property—
a other than cash, which he received, the value concerned shall be the value of the property at that time; and
b which directly or indirectly represents the property which he received, the value concerned is the value of the property in his custody, in so far as it represents the property, which he received at the time.

4 For the purpose of subsection (1), an obligation has priority, at the time of the making of the relevant confiscation order, if —
a it is an obligation of the convicted person, where he has been convicted by a Court of any offence to pay—
(i) a fine imposed before that time by the Court, or
(ii) any other amount under any resultant order made before that time by the Court; and
b it is an obligation, where —
(i) the insolvent estate of the convicted person had at that time been made subject to any Court order;
(ii) the convicted person is a company or other juristic person, where the company or juristic person is at that time being wound up; or
(iii) it would be payable in pursuance of any secured or preferred claim against the insolvent estate or against such company or juristic person.

5 The Court shall not determine the amounts realisable as contemplated in subsection (1), unless it has afforded all persons holding any interest in the property concerned an opportunity to make representations to it, in connection with the realisation of that property.

6 Where there is no amount that may be realised, the Court may make an order for a nominal amount.