F1PART 40CHARGING ORDER, STOP ORDER, STOP NOTICE

CHAPTER 4STOP NOTICES

Effect of a stop notice40.16.

(1)

A stop notice—

(a)

takes effect when it is served in accordance with rule 40.15(4); and

(b)

remains in force unless it is withdrawn or discharged in accordance with rule 40.18 or 40.19.

(2)

While a stop notice is in force, the person on whom it is served—

(a)

must not—

(i)

register a transfer of the securities described in the notice; or

(ii)

take any other step restrained by the notice,

without first giving 14 days’ notice to the person who obtained the stop notice; but

(b)

must not, by reason only of the notice, refuse to register a transfer or to take any other step, after the person has given 14 days’ notice under paragraph (2)(a) and that period has expired.