SCHEDULES
C1C2C3C4 SCHEDULE 12Taking control of goods
Sch. 12 applied (6.4.2014) by Finance Act 2008 (c. 9), ss. 127(2), 129(4); S.I. 2014/906, arts. 2, 3
Sch. 12 applied by S.I. 2013/2605, art. 21K(1) (as inserted (12.11.2018) by The Proceeds of Crime Act 2002 (External Investigations and External Orders and Requests) (Amendment) Order 2018 (S.I. 2018/1078), arts. 1(2), 8)
Sch. 12 applied by S.I. 2014/1893, art. 34K(1) (as inserted (12.11.2018) by The Proceeds of Crime Act 2002 (External Investigations and External Orders and Requests) (Amendment) Order 2018 (S.I. 2018/1078), arts. 1(2), 20)
C2Part 2The procedure
Holding and disposal of securities
49
I21
The creditor may sue in the name of the debtor, or in the name of any person in whose name the debtor might have sued, for the recovery of any sum secured or made payable by securities, when the time of payment arrives.
I22
Before any proceedings under sub-paragraph (1) are commenced or the securities are otherwise disposed of, the enforcement agent must give notice of the disposal to the debtor and any co-owner.
I1I33
Regulations must state—
a
the minimum period of notice;
b
the form of the notice;
c
what it must contain;
d
how it must be given.
I1I34
The enforcement agent may replace a notice with a new notice, subject to any restriction in regulations.
I25
Any notice must be given within the permitted period.
I26
Unless extended the permitted period is 12 months beginning with the time of payment.
I27
Any extension must be by agreement in writing between the creditor and debtor before the end of the period.
I28
They may extend the period more than once.
Sch. 12 applied (prosp.) by Finance Act 2008 (c. 9), ss. 127(2), 129(4)