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
Sale
I5C238
Paragraphs 39 to 42 apply to the sale of controlled goods, except where—
a
the controlled goods are securities, or
b
the sale is by exchange of one currency for another.
39
I61
The sale must not be before the end of the minimum period except with the agreement of the debtor and any co-owner.
I1I72
Regulations must specify the minimum period.
40
I81
Before the sale, the enforcement agent must give notice of the date, time and place of the sale to the debtor and any co-owner.
I2I92
Regulations must state—
a
the minimum period of notice;
b
the form of the notice;
c
what it must contain (besides the date, time and place of sale);
d
how it must be given.
I2I93
The enforcement agent may replace a notice with a new notice, subject to any restriction in regulations.
I84
Any notice must be given within the permitted period.
I85
Unless extended the permitted period is 12 months beginning with the day on which the enforcement agent takes control of the goods.
I86
Any extension must be by agreement in writing between the creditor and debtor before the end of the period.
I87
They may extend the period more than once.
41
I101
The sale must be by public auction unless the court orders otherwise.
I102
The court may make an order only on an application by the enforcement agent.
I3I113
Regulations may make provision about the types of sale the court may order.
I104
In an application for an order under sub-paragraph (2) the enforcement agent must state whether he has reason to believe that an enforcement power has become exercisable by another creditor against the debtor or a co-owner.
I3I115
If the enforcement agent states that he does, the court may not consider the application until notice of it has been given to the other creditor in accordance with regulations (or until the court is satisfied that an enforcement power is not exercisable by the other creditor against the debtor or a co-owner).
I4I12C242
Regulations may make further provision about the sale of controlled goods, including in particular—
a
requirements for advertising;
b
provision about the conduct of a sale.
Sch. 12 applied (prosp.) by Finance Act 2008 (c. 9), ss. 127(2), 129(4)