• Chapter 4: Chapter 4: Stop Orders and Notices

    • 119. Stop orders and notices

      (1) In this section —
      (a) "stop order" means an order of the Court prohibiting the taking, in respect of any of the securities specified in the order, of any of the steps mentioned in subsection (5);
      (b) "stop notice" means a notice requiring any person or body on whom it is duly served to refrain from taking, in respect of any of the securities specified in the notice, any of those steps without first notifying the person by whom, or on whose behalf, the notice was served; and
      (c) "prescribed securities" means securities (including funds in court and funds in any bank or investment account) of a kind prescribed by court procedure rules made under this section.
      (2) The power to make court procedure rules under section 186 shall include the power by any such court procedure rules to make provision —
      (a) for the Court of First Instance to make a stop order on the application of any person claiming to be entitled to an interest in prescribed securities; and
      (b) for the service of a stop notice by any person claiming to be entitled to an interest in prescribed securities.
      (3) Court procedure rules made by virtue of subsection (2) shall prescribe the person or body on whom a copy of any stop order or stop notice is to be served.
      (4) Any court procedure rules made by virtue of this section may include such incidental, supplementary and consequential provisions as the authority making them consider necessary or expedient, and may make different provision in relation to different cases or classes of case.
      (5) The steps mentioned in subsection (1) are —
      (a) the registration of any transfer of the securities;
      (b) in the case of funds in Court and funds in any bank or investment account, the transfer, sale, delivery out, payment or dealing with the funds, or of the income thereon; and
      (c) the making of any payment by way of dividend, interest or otherwise in respect of the securities.