- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
73.16 In this Section—
(a)“stop notice” means a notice issued by the court which requires a person or body not to take, in relation to securities specified in the notice, any of the steps listed in section 5(5) of the 1979 Act, without first giving notice to the person who obtained the notice; and
(b)“securities” does not include securities held in court.
73.17—(1) The High Court may, on the request of any person claiming to be beneficially entitled to an interest in securities, issue a stop notice.
(A stop notice may also be included in a final charging order, by either the High Court or a county court, under rule 73.8(3).)
(2) A request for a stop notice must be made by filing—
(a)a draft stop notice; and
(b)written evidence which—
(i)identifies the securities in question;
(ii)describes the applicant’s interest in the securities; and
(iii)gives an address for service for the applicant.
(A sample form of stop notice is annexed to the relevant practice direction.)
(3) If a court officer considers that the request complies with paragraph (2), he will issue a stop notice.
(4) The applicant must serve copies of the stop notice and his written evidence on the person to whom the stop notice is addressed.
73.18—(1) A stop notice—
(a)takes effect when it is served in accordance with rule 73.17(4); and
(b)remains in force unless it is withdrawn or discharged in accordance with rule 73.20 or 73.21.
(2) While a stop notice is in force, the person on whom it is served—
(a)must not—
(i)register a transfer of the securities described in the notice; or
(ii)take any other step restrained by the notice,
without first giving 14 days' notice to the person who obtained the stop notice; but
(b)must not, by reason only of the notice, refuse to register a transfer or to take any other step, after he has given 14 days' notice under paragraph (2)(a) and that period has expired.
73.19—(1) If any securities are incorrectly described in a stop notice which has been obtained and served in accordance with rule 73.17, the applicant may request an amended stop notice in accordance with that rule.
(2) The amended stop notice takes effect when it is served.
73.20—(1) A person who has obtained a stop notice may withdraw it by serving a request for its withdrawal on—
(a)the person or body on whom the stop notice was served; and
(b)the court which issued the stop notice.
(2) The request must be signed by the person who obtained the stop notice, and his signature must be witnessed by a practising solicitor.
73.21—(1) The court may, on the application of any person claiming to be beneficially entitled to an interest in the securities to which a stop notice relates, make an order discharging or varying the notice.
(2) An application to discharge or vary a stop notice must be made to the court which issued the notice.
(3) The application notice must be served on the person who obtained the stop notice.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: