Rule 94 Application to dispose of secured propertyI1

This rule applies where the administrator applies to the court under paragraph 71 for authority to dispose of property which is subject to a security (other than a floating charge), or under paragraph 72 for authority to dispose of goods in the possession of the institution under a hire purchase agreement.

The court must fix a venue for the hearing of the application, and the administrator must as soon as is reasonably practicable afterwards give notice of the venue to the person who is the holder of the security or the owner of the goods.

If an order is made under paragraph 71 or 72, the court must deliver two copies of the order certified by the court to the administrator.

The administrator must deliver—

The administrator must place in the sederunt book a copy of any order granted under paragraph 71 or 72.