THE FIRST GROUP OF PARTS

PART 3ADMINISTRATIVE RECEIVERSHIP

CHAPTER 5THE ADMINISTRATIVE RECEIVER (MISCELLANEOUS)

Disposal of charged property3.31

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.