the value of the gift, payment or reward to the recipient
when he received it adjusted to take account of subsequent
changes in the value of money; or
(b) where subsection (6) applies, the value there mentioned,
whichever is the greater.
(6) Subject to subsection (10), if at the material time the
recipient holds -
(a)
the property which he received (not being cash); or
(b) property which, in whole or in part, directly or indirectly
represents in his hands the property which he received,
as the
the value referred to in subsection (5) (b) is the value to him at the
material time of the property mentioned in paragraph (a) or,
case may be, of the property mentioned in paragraph (b) so far as it
so represents the property which he received, but disregarding in
either case any charging order.
(7) For the purposes of subsection (3), an obligation has
priority at any time if it is an obligation of the defendant to -
(a) pay an amount due in respect of a fine, or other order of a
court, imposed or made on conviction of an offence, where