PART 3ADMINISTRATION
CHAPTER 9Disposal of secured property
[Note: A document required by the Act or these Rules must also contain the standard contents set out in Part 1.]
Disposal of secured property3
1
This rule applies where the administrator applies to the court under paragraph 71 or 72 of Schedule B1 for authority to dispose of—
a
property which is subject to a security other than a floating charge; or
b
goods in the possession of the company under a hire-purchase agreement.
2
The court must fix a venue for the hearing of the application.
3
As soon as reasonably practicable after the court has done so, the administrator must deliver notice of the venue to the holder of the security or the owner of the goods.
4
If an order is made under paragraph 71 or 72 of Schedule B1, the court must deliver two copies of the order certified by the court to the administrator.
5
The administrator must deliver—
a
one of the certified copies to the holder of the security or the owner of the goods; and
b
a copy of the certified order to the registrar of companies.