The Family Procedure Rules 2010

[F1Effect of interim charging order in relation to securitiesE+W

This section has no associated Explanatory Memorandum

40.7.—(1) If a debtor disposes of their interest in any securities while they are subject to an interim charging order which has been served on them, that disposition will not, so long as that order remains in force, be valid as against the creditor.

(2) A person served under rule 40.6(3)(f) with an interim charging order relating to securities must not, unless the court gives permission—

(a)permit any transfer of any of the securities; or

(b)pay any dividend, interest or redemption payment relating to them.

(3) If a person acts in breach of paragraph (2), that person will be liable to pay to the creditor—

(a)the value of the securities transferred or the amount of the payment made (as the case may be); or

(b)if less, the amount necessary to satisfy the debt in relation to which the interim charging order was made.]

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