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S C H E D U L E S |
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SCHEDULE 1
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SALE OF TRANSPORTERS |
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Leave of court required |
| | 1. - (1) The sale of a transporter requires the leave of the court.
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(2) The court is not to give its leave except on proof-
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(a) that the penalty or charge is or was due; |
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(b) that the person liable to pay it or any connected expenses has failed to do so; and |
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(c) that the transporter which the Secretary of State seeks leave to sell is liable to sale. |
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Notice of proposed sale |
| | 2. Before applying for leave to sell a transporter, the Secretary of State must take such steps as may be prescribed-
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(a) for bringing the proposed sale to the notice of persons whose interests may be affected by a decision of the court to grant leave; and |
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(b) for affording to any such person an opportunity of becoming a party to the proceedings if the Secretary of State applies for leave. |
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Duty to obtain best price |
| | 3. If leave for sale is given, the Secretary of State must secure that the transporter is sold for the best price that can reasonably be obtained.
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Effect of failure to comply with paragraph 2 or 3 |
| | 4. Failure to comply with any requirement of paragraph 2 or 3 in respect of any sale-
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(a) is actionable against the Secretary of State at the suit of any person suffering loss in consequence of the sale; but |
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(b) after the sale has taken place, does not affect its validity. |
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Application of proceeds of sale |
| | 5. - (1) Any proceeds of sale arising from a sale under section 31 or 36 must be applied-
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(a) in making prescribed payments; and |
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(b) in accordance with such provision as to priority of payments as may be prescribed. |
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(2) The regulations may, in particular, provide for proceeds of sale to be applied in payment-
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(a) of customs or excise duty, |
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(c) of expenses incurred by the Secretary of State, |
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(d) of any penalty or charge which the court has found to be due, |
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(e) in the case of the sale of an aircraft, of charges due as a result of regulations made under section 73 of the Civil Aviation Act 1982, |
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(f) of any surplus to or among the person or persons whose interests in the transporter have been divested as a result of the sale, |
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but not necessarily in that order of priority.
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