Article 36 Disposal of secured propertyI1

The following applies where the postal administrator applies to the court under paragraphs 71 or 72 of Schedule B1 to the 1986 Act 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.

If an order is made under paragraphs 71 or 72 of Schedule B1 to the 1986 Act, the postal administrator shall as soon as reasonably practicable send a copy of it certified by the clerk of court to the person who is the holder of the security or owner under the agreement.

The postal administrator shall place a copy of the order in the sederunt book.

The notice required by paragraph 72(4) of Schedule B1 to the 1986 Act shall be in Form PA14(S).