Regulation 25 Sale of a motor vehicle

(1)

Subject to regulation 24(3), if the court makes a vehicle sale order the Lord Chancellor must arrange for the motor vehicle or vehicles to be sold.

(2)

On the sale of a motor vehicle or vehicles pursuant to a vehicle sale order—

(a)

the ownership of the motor vehicle shall vest in the purchaser and the Lord Chancellor must secure the registration of the motor vehicle in the name of the purchaser under the Vehicle Excise and Registration Act 1994^f1;

(b)

the net proceeds of sale (subject to paragraph (3)) must be applied—

(i)

first, towards meeting the charges due;

(ii)

second, towards meeting the overdue enforcement costs; and

(iii)

third, towards payment of the balance of the relevant overdue amount specified in the vehicle sale order.

(3)

Where the vehicle sale order specifies that another person has an interest in a motor vehicle, the Lord Chancellor must—

(a)

first, pay that person a share of the proceeds of sale proportionate to the value of that person’s interest as specified in the vehicle sale order; and

(b)

then deal with the balance of the proceeds of sale in accordance with paragraphs (2) and (4).

(4)

The Lord Chancellor must send payment of any remaining balance of the proceeds of sale to the individual within 14 days beginning with the date on which the motor vehicle is sold, accompanied by a written statement of account.

Annotations

Footnotes

f1: 1994 c. 22.