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Rule 1.43 Disposal of charged property etc. during a moratoriumF1

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

  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
(1)

This Rule applies in any case where the company makes an application to the court under paragraph 20 of Schedule A1 to the Act for leave to dispose of property of the company which is subject to a security, or goods in possession of the company under an agreement to which that paragraph relates.

(2)

The court shall fix a venue for the hearing of the application and the company shall forthwith give notice of the venue to the person who is the holder of the security or, as the case may be, the owner under the agreement.

(3)

If an order is made, the company shall forthwith give notice of it to that person or owner.

(4)

The court shall send 2 sealed copies of the order to the company, who shall send one of them to that person or owner.

Annotations

Textual amendments

F1

Pt. 1 Ch. 9 inserted (1.1.2003) by The Insolvency (Amendment) (No. 2) Rules 2002 (S.I. 2002/2712), rule 1(1), Sch. 1 para. 21 (with rule 3(2))