Regulation 27 Disclaimer of property by official custodian
Where property vests in the official custodian under regulation 23 the official custodian may by notice disclaim title to any or all of that property.
A notice for the purposes of this regulation—
may be in such form as the official custodian thinks fit; but
must be signed by, or on behalf of, the official custodian.
The official custodian may disclaim property under this regulation whether or not the Commission has made an order under regulation 25.
The right to disclaim property under this regulation may be waived by or on behalf of the official custodian by an express waiver or by the official custodian taking possession of the property.
A notice of disclaimer is not effective unless it is signed within 3 years after—
the date on which the fact that the property may have vested in the official custodian under regulation 23 first comes to the notice of the official custodian; or
if ownership of the property is not established at that date, the end of the period reasonably necessary for the official custodian to establish ownership of the property.
If an application in writing is made to the official custodian by a person interested in the property requiring the official custodian to decide whether or not to disclaim, a notice of disclaimer is not effective unless it is signed within 12 months after the application is made or such further period as may be allowed by the court.
The official custodian must within 14 days after signing a notice of disclaimer—
send a copy of it to—
the Commission; and
any person who has given notice to the official custodian claiming to be interested in the property; and
publish it in such manner as the official custodian thinks fit having regard in particular to the manner in which the Commission published any notice relating to the CIO under any provision of Part 3 of these Regulations.