Section 520 of Insolvency Act CAP 53: Interpretation: Part VIII

For the purposes of this Act— (a) a company is "under administration" while the appointment of an administrator of the company continues to have effect; (b) a company "enters administration" when...

(1) The objectives of the administration of a company are the following— (a) to maintain the company as a going concern; (b) to achieve a better outcome for the company's creditors as a whole than...

A person may be appointed as administrator of a company— (a) by administration order of the Court in accordance with Division 3; (b) by the holder of a floating charge under section 534; or (c) by...

The administrator of a company shall perform the administrator's functions as quickly and efficiently as is reasonably practicable.

An administrator is an officer of the Court, whether or appointed by the Court or not.

A person may be appointed as administrator of a company only if the person is an authorised insolvency practitioner.

(1) Except as provided by subsection (2), a person may not be appointed as administrator of a company that is already under administration. (2) Subsection (1) is subject to sections 606 to 613 and...

(1) A person may not be appointed as administrator of a company that is in liquidation because of— (a) a resolution for voluntary liquidation; or (b) a liquidation order. (2) Subsection (1)(a) is...

(1) A person may not be appointed under this Part as administrator of— (a) a company that is a bank; or (b) a company that enters into contracts of insurance or carries on insurance...

An administration order is an order appointing a person as the administrator of a company and providing for the administration of the company by that person.

The Court may make an administration order in relation to a company only if satisfied— (a) that the company is or is likely to become unable to pay its debts; and (b) that the administration order...

(1) An application to the Court for an administration order in respect of a company may be made only by the following persons— (a) the company; (b) the directors of the company; (c) one or more...

(1) On hearing an application for an administration order in respect of a company, the Court may— (a) make the administration order sought; (b) dismiss the application; (c) adjourn the hearing...

(1) The holder of a qualifying floating charge in respect of a company's property may appoint an administrator of the company. (2) For the purposes of subsection (1), a floating charge is a...

(1) A person may not appoint an administrator under section 534 unless the person has given at least three days' notice to the holder of any prior floating charge that satisfies subsection (2) of that...

A person may not be appointed as administrator under section 534 if the floating charge on which the appointment depends is unenforceable.

(1) A person who appoints an administrator of a company under section 534 shall lodge with the Court — (a) a notice of appointment that complies with subsections (2); and (b) such other documents...

The appointment of an administrator under section 534 takes effect when the requirements of section 537 are satisfied.

(1) As soon as is reasonably practicable after the requirements of section 537 are satisfied, the person who appointed the administrator under section 534 shall notify the administrator, and such...

(1) If— (a) a person purports to appoint an administrator under section 534; and (b) the appointment is discovered to be invalid, any person who appears to the Court to have a legitimate interest in...

(1) A company may appoint an administrator. (2) The directors of a company may appoint an administrator.

lf an administrator of a company— (a) is appointed under section 541; or (b) is appointed on an application for administration made by the company or its directors, another person may not be...

(1) If a moratorium for a company under Division 2 of Part IX ends on a date when no voluntary arrangement is in force in respect of the company, this section applies for the twelve months from and...

An administrator of a company may not be appointed under section 541 if— (a) an application for the liquidation of the company has been presented and is not yet disposed of; (b) an application for...

(1) A person who proposes to make an appointment under section 541 shall give to any person who is or may be entitled to appoint an administrator of the company under section 534 a notice that...

(1) As soon as practicable after a person has given notice of an intention to make an appointment under section 545, the person shall lodge with the Court— (a) a copy of the notice and of any...

(1) An appointment may not be made under section 541 unless the person who makes the appointment has complied with the requirements of section 545 and 546 and— (a) the period of notice specified in...

(1) A person who appoints an administrator of a company under section 541 shall lodge with the Court — (a) a notice of appointment that identifies the administrator; (b) a statement by the...

If no person is entitled to notice of intention to appoint under section 545(1) so that section 547 does not apply, the statutory declaration accompanying the notice of appointment is ineffective...

The appointment of an administrator under section 541 takes effect when the requirements of section 548 are satisfied.

(1) As soon as is reasonably practicable after the requirements of section 548 are satisfied, the person who has appointed the administrator under section 541 shall notify the administrator, and such...

If, before the requirements of section 548 are satisfied, the company enters administration under an administration order, or because of an appointment under section 534— (a) the appointment under...

(1) If— (a) a person purports to appoint an administrator under section 541; and (b) the appointment is discovered to be invalid, any person who appears to the Court to have a legitimate interest in...

(1) If an application for administration in respect of a company— (a) is made by the holder of a qualifying floating charge in respect of the company's property; and (b) includes a statement that...

If— (a) an application for administration in respect of a company is made by a person who is not the holder of a qualifying floating charge in respect of the company's property; and (b) the holder...

(1) If the holder of a qualifying floating charge in respect of a company's property could appoint an administrator under section 534 but for section 528(1)(b), that holder may nevertheless make an...

(1) The liquidator of a company may make an application to the Court for an administration order under subsection (2). (2) If the Court makes an administration order on the hearing of an application...

(1) On the making of an administration order in respect of a company— (a) an application for the liquidation of the company may not be made; and (b) any application for the liquidation of the...

(1) While a company is under administration— (a) a resolution for the liquidation of the company may not be made; and (b) the Court may not make an order for the liquidation of the...

(1) While a company is under administration— (a) a person may take steps to enforce a security over the company's property only with the consent of the administrator or with the approval of the...

(1) When considering whether to grant its approval under section 560, the court or the administrator may in particular take into consideration where appropriate— (a) the statutory purpose of the...

(1) This section applies if an application for administration in respect of a company has been made and — (a) the application has not yet been granted or dismissed; or (b) the application has...

(1) While a company is under administration, the administrator shall ensure that all business documents issued by or on behalf of the company or the administrator, and all the company's websites,...

(1) As soon as practicable after becoming administrator of a company, the administrator shall comply with subsection (2) and (3). (2) The administrator shall— (a) send a notice of the...

(1) As soon as practicable after becoming administrator of a company, the administrator shall give notice requiring one or more relevant persons to provide the administrator with a statement of the...

(1) The deadline for submitting a statement of financial position is the end of twelve days from and including the day on which the relevant person receives notice of the requirement. (2) The...

(1) The administrator of a company shall make a statement setting out proposals for achieving the purpose of administration. (2) The administrator shall ensure that the proposals— (a) deal with such...

The person presiding at a creditors' meeting shall ensure that it is conducted in the manner prescribed by the insolvency regulations.

(1) The administrator shall ensure that each copy of the administrator's statement of proposals sent to a creditor in accordance with section 566(4)(b) is accompanied by an invitation to an initial...

(1) Section 568(1) does not apply if the statement of proposals states that the administrator believes— (a) that the company has sufficient property to enable each creditor of the company to be...