The Relevant Licensee Nuclear Company Administration (England and Wales) Rules 2023

Authority to dispose of property

40.—(1) This rule applies where the nuclear administrator applies to the court under paragraph 71 or 72 of Schedule B1 to the 1986 Act for authority to dispose of—

(a) property of the relevant licensee nuclear company which is subject to a security other than a floating charge;

(b) goods in the possession of the relevant licensee nuclear company under a hire-purchase agreement.

(2) The court must fix a venue for the hearing of the application, and the nuclear administrator must as soon as reasonably practicable deliver notice of the venue to the holder of the security or, as the case may be, the owner of the goods.

(3) If an order is made under paragraph 71 or 72 of Schedule B1 to the 1986 Act the court must deliver two sealed copies to the nuclear administrator, or in the case of joint nuclear administrators, two sealed copies to one and a copy of the sealed order to others.

(4) The nuclear administrator must deliver—

(a) one of the sealed copies to the holder of the security or the owner of the goods;

(b) a copy of the sealed order to the registrar of companies.