Define Controlled Goods Agreement

(b) the reference number(s) and the date of the agreement; 9.-1. Subject to paragraphs 2 and 3, the law enforcement officer may no longer take control of the debtor`s property on the expiry of a period of twelve months beginning from the date of notification of enforcement. Part Three (36 to 43) provides for the sale of controlled goods (other than securities). It is intended to inform the debtor and a potential co-owner of the sale (rules 37 to 40) and to proceed with the sale (paragraphs 41 to 43). In our experience, most judicial officers and HCEO want an acceptable agreement to be reached. It is likely that they will want to take a CGA and agree on a repayment plan, given that the assets collected are usually not the best for either party. 32.-1. Where the control of the debtor`s goods is taken over in accordance with point (c) of Paragraph 13(1) of Annex 12 or where controlled goods are stored or offered for sale, the notification referred to in Rule 30(1) shall also contain the following information: (d) that the enforcement agent has taken control of the goods of the debtor or debtor and the co-owner in accordance with the list; and contact your nearest citizen council if the judicial officers do not allow you to modify your reimbursement plan or if you feel that you have been forced to conclude an agreement on controlled goods to which you cannot comply. 35.-1. This Regulation applies where an enforcement officer receives or receives an assessment of the controlled goods in accordance with Article 36(1) of Schedule 12 the day before (paragraph 2) (paragraph 3). 17.-1. Subject to paragraph 3, the enforcement agent may, where the enforcement agent acts in accordance with point (b) or (c) of paragraph 13(1) of Annex 12, guarantee the debtor`s goods by means of a decommissioning device. Part 4 (Regulations 44 to 46) deals with goods that are security of the debtor.

Provisions 45 and 46 provide, by way of guidance, for the retention, protection and assignment of such securities by the enforcement agent, as well as the termination procedure in which the creditor exercises the right to commence proceedings under section 49 of Schedule 12 to the Act (under which a creditor, on behalf of the debtor or another person on whohalf the debtor could have brought an action: ( 1994) For example, for the recovery of amounts guaranteed or paid by securities.. . . . . .