Abandonment of securitiesE+W
55E+WParagraphs 56 and 57 apply to securities as controlled goods.
Modifications etc. (not altering text)
C1Sch. 12 applied (6.4.2014) by Finance Act 2008 (c. 9), ss. 127(2), 129(4); S.I. 2014/906, arts. 2, 3
Commencement Information
I1Sch. 12 para. 55 in force at 6.4.2014 by S.I. 2014/768, art. 2(1)(b)
56(1)Securities are abandoned if the enforcement agent does not give the debtor or any co-owner notice under paragraph 49 (notice of disposal) within the permitted period.E+W
F1(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)Regulations may prescribe other circumstances in which securities are abandoned.
Textual Amendments
F1Sch. 12 para. 56(2) omitted (6.4.2014) by virtue of Crime and Courts Act 2013 (c. 22), ss. 25(7), 61(3); S.I. 2014/830, art. 2
Commencement Information
I2Sch. 12 para. 56(1)(2) in force at 6.4.2014 by S.I. 2014/768, art. 2(1)(b)
I3Sch. 12 para. 56(3) in force at 15.7.2013 for specified purposes by S.I. 2013/1739, art. 3(g)(xxix)
I4Sch. 12 para. 56(3) in force at 6.4.2014 in so far as not already in force by S.I. 2014/768, art. 2(1)(b)
57(1)If securities are abandoned then, in relation to the enforcement power concerned, the following apply—E+W
(a)the enforcement power ceases to be exercisable;
(b)as soon as reasonably practicable the enforcement agent must make the securities available for collection by the debtor, if he removed them from where he found them.
(2)Where the enforcement power was under a writ or warrant, sub-paragraph (1) does not affect any power to issue another writ or warrant.
Commencement Information
I5Sch. 12 para. 57 in force at 6.4.2014 by S.I. 2014/768, art. 2(1)(b)