Rule 36 Authority to dispose of propertyI1

The following applies where the postal administrator applies to the court under paragraphs 71 or 72 for authority to dispose of property of the company which is subject to a security (other than a floating charge), or goods in the possession of the company under a hire purchase agreement.

The court shall fix a venue for the hearing of the application, and the postal administrator shall as soon as reasonably practicable 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.

If an order is made under paragraphs 71 or 72 the court shall send two sealed copies to the postal administrator.

The postal administrator shall send one of them to that person who is the holder of the security or owner under the agreement.

The postal administrator must send a copy of the sealed order to the registrar of companies.