A bankrupt's estate for the purposes of the Insolvency Act 19861 comprises:
(1) all property2 belonging to or vested in the bankrupt at the commencement of the bankruptcy3; and
(2) any property which, by virtue of any of the provisions of the Insolvency Act 1986, 4is comprised in that estate or is treated as falling within head (1) above5.
The above provisions do not, however, apply to:
(a) such tools, books, vehicles and other items of equipment as are necessary
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