39. Third party claiming goods

(1) This paragraph applies where a person makes an application to the Court claiming that goods taken control of are his and not the debtor's.
(2) After receiving notice of the application the enforcement agent must not sell the goods, or dispose of them (in the case of securities), unless directed by the Court under this paragraph.
(3) The Court may direct the enforcement agent to sell or dispose of the goods if the applicant fails to make, or to continue to make, the required payments into Court.
(4) The required payments are —
(a) payment on making the application (subject to sub-paragraph (5)) of an amount equal to the value of the goods, or to a proportion of it directed by the Court;
(b) payment, at prescribed times (on making the application or later), of any amounts prescribed in respect of the enforcement agent's costs of retaining the goods.
(5) If the applicant makes a payment under sub-paragraph (4)(a) but the enforcement agent disputes the value of the goods, any underpayment is to be —
(a) determined by reference to an independent valuation carried out in accordance with rules; and
(b) paid at the prescribed time.
(6) If sub-paragraph (3) does not apply the Court may still direct the enforcement agent to sell or dispose of the goods before the Court determines the applicant's claim, if it considers it appropriate having regard to all the circumstances.
(7) If the Court makes a direction under sub-paragraph (3) or (6) —
(a) paragraphs 25 (sale) to 30 (holding and disposal of securities: supplemental), and rules under them, apply subject to any modification directed by the Court;
(b) the enforcement agent must pay the proceeds of sale or disposal into Court.
(8) In this paragraph "the Court", subject to court procedure rules, means the Court of First Instance.