THE FIRST GROUP OF PARTS

PART 3 ADMINISTRATIVE RECEIVERSHIP

CHAPTER 5 THE ADMINISTRATIVE RECEIVER (MISCELLANEOUS)

3.31 Disposal of charged property
1 The following applies where the administrative receiver applies to the court under section 43(1) for authority to dispose of property of the company which is subject to a security.
2 The court shall fix a venue for the hearing of the application, and the receiver shall forthwith give notice of the venue to the person who is the holder of the security.
3 If an order is made under section 43(1), the receiver shall forthwith give notice of it to that person.
4 The court shall send 2 sealed copies of the order to the receiver, who shall send one of them to that person.