OpenLegislation

Rule 33.54 SecurityI1

England and Wales

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

This rule applies where the Crown Court appoints a receiver under section 48 or 50 of the Proceeds of Crime Act 2002 and the receiver is not a person falling within section 55(8) of the 2002 Actf1 (and it is immaterial whether the receiver is a permanent or temporary member of staff or on secondment from elsewhere).

(2)

The Crown Court may direct that before the receiver begins to act, or within a specified time, he must either—

(a)

give such security as the Crown Court may determine; or

(b)

file with the Crown Court and serve on all parties to any receivership proceedings evidence that he already has in force sufficient security,

to cover his liability for his acts and omissions as a receiver.

(3)

The Crown Court may terminate the appointment of a receiver if he fails to—

(a)

give the security; or

(b)

satisfy the court as to the security he has in force,

by the date specified.

Annotations

Commencement

I1

Rule 33.54 in force at 6.10.2025, see Preamble

Footnotes

f1

2002 c. 29; section 55(8) was amended by section 51(1) and (2) of the Policing and Crime Act 2009 (c. 26).