No. 3
Electronic and Postal Communications
(b)
(c)
(d)
2010
101
for the purposes of taking possession, may enter at
any time, any premises described in the sub-section
(1) notice and request the assistance of the Police;
shall, at the time of taking possession, provide the
debtor licensee with an inventory of assets seized;
and
where the assets are tangible assets other than an
interest in land or buildings, store the assets at the
cost of the debtor licensee, at any place the Authority
considers appropriate
(4) Where the Authority serves a debtor licensee with a
notice under sub-section (1), the Authority may, after public notice,
sell the charged assets but not before(a) where the charged assets are an interest in land or
buildings thirty days after taking possession under
sub-section (3);
(b) where the charged assets are perishable tangible
assets, one day after taking possession under subsection (3);
(c) where the charged assets are tangible assets other
than those referred to in paragraph (a) or (b) , ten
days after taking possession under subsection (3);
and
(d) in any other case, ten days after service of notice
under sub-section (1).
(5) The proceeds of sale under sub-section (4) shall be
used to pay the costs of charge and sale of the assets sold, then to
pay the fee or royalty due and interests accrued with respect to that
fee or royalty and any remainder shall be paid to the debtor
licensee.
(6) After applying sale proceeds in accordance with subsection (5) the Authority shall serve the debtor licensee with a
written notice detailing the manner in which the sale proceeds have
been applied.