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Rule 40.16 Effect of a stop noticeF1

(1)

A stop notice—

(a)

takes effect when it is served in accordance with rule 40.15(4); and

(b)

remains in force unless it is withdrawn or discharged in accordance with rule 40.18 or 40.19.

(2)

While a stop notice is in force, the person on whom it is served—

(a)

must not—

(i)

register a transfer of the securities described in the notice; or

(ii)

take any other step restrained by the notice,

without first giving 14 days’ notice to the person who obtained the stop notice; but

(b)

must not, by reason only of the notice, refuse to register a transfer or to take any other step, after the person has given 14 days’ notice under paragraph (2)(a) and that period has expired.

Annotations

Textual amendments

F1

Pt. 40 inserted (6.4.2016) by The Family Procedure (Amendment) Rules 2016 (S.I. 2016/355), rules 1(2), 8(b), Sch. 2 (with rule 9)