This section and the next apply where a bankruptcy order is made against an undischarged bankrupt; and in both sections—
"the later bankruptcy" means the bankruptcy arising from that order,
"the earlier bankruptcy" means the bankruptcy (or, as the case may be, most recent bankruptcy) from which the bankrupt has not been discharged at the commencement of the later bankruptcy, and
"the existing trustee" means the trustee (if any) of the bankrupt's estate for the purposes of the earlier bankruptcy.
This subsection applies to—
any property which is vested in the existing trustee under section 307(3) (after-acquired property);
any money paid to the existing trustee in pursuance of an income payments order under section 310; and
any property or money, which is, or in the hands of the existing trustee represents, the proceeds of sale or application of property or money falling within paragraph (a) or (b) of this subsection.