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The Water Industry (Special Administration) Rules 2009
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CHAPTER 2Disposal of property
Disposal of charged property, etc.
37.—(1) This rule applies if the special administrator of a water company applies to the court under section 15(2) of the Insolvency Act for an order authorising the disposal of—
(a)property of the water company that is subject to a security to which section 15(2) applies; or
(b)goods in the possession of the water company under a hire-purchase agreement (within the meaning given by section 15(9) of that Act).
(2) The court will fix a venue for the hearing of the application, and the special administrator must, as soon as reasonably practicable, give notice of the venue to the person who is the holder of the security or the owner under the agreement, as the case may be.
(3) If the court makes an order under section 15(2) of that Act the special administrator must, as soon as reasonably practicable, give notice of the order by sending a copy of the order and a completed Form WAT17, to the holder or owner.
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