SCHEDULES

Valid from 15/07/2013

SCHEDULE 12 E+W Taking control of goods

Modifications etc. (not altering text)

C1 Sch. 12 applied (prosp.) by Finance Act 2008 (c. 9), ss. 127(2), 129(4)

Part 2 E+W The procedure

Valid from 06/04/2014

Time when property ceases to be bound E+W

6 (1) For the purposes of any enforcement power the property in goods of the debtor ceases to be bound in accordance with this paragraph. E+W

(2) The property in any goods ceases to be bound—

(a) when the goods are sold;

(b) in the case of money used to pay any of the amount outstanding, when it is used.

(3) The property in all goods ceases to be bound when any of these happens—

(a) the amount outstanding is paid, out of the proceeds of sale or otherwise;

(b) the instrument under which the power is exercisable ceases to have effect;

(c) the power ceases to be exercisable for any other reason.