Browse an Act, find a provision and read each section in context.
Browse Acts ↓(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 conditionally or unconditionally; (d) make an interim order; (e) treat the application as a liquidation app…
(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 qualifying floating charge if it is created by a document that— (a) states that this section applies to the fl…
(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 section. (2) For the purposes of subsection (1), the priority of a floating charge shall be determi…
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 as may be prescribed by the insolvency regulations for the purposes of this section. (2) A notice of app…
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 other persons as may be prescribed by the insolvency regulations for the purposes of this section, that…
(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 the matter may apply to the Court for an order under subsection (2). (2) On the hearing of an applica…
(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 appointed as an administrator of the company appointed under that section during the twelve months from and i…
(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 including that date. (2) This section also applies for the period of twelve months from and including…
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 administration has been made and is not yet disposed of; or (c) an administrative receiver of the compa…
(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 complies with subsection (3). (2) A person who proposes to make an appointment under section 541 shall also…
(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 document that accompanied it; and (b) a statutory declaration by the person that complies with subsection (2…
(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 section 545(1) has expired; or (b) each person to whom notice has been given under section 545(1) has…
(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 administrator that complies with subsection (2); (c) a statutory declaration by the person making the appointme…
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 unless it includes the statements and information required under section 546(2), in which case section 5…
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 other persons as may be prescribed by the insolvency regulations for the purposes of this section, t…
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 section 541 has no effect; and (b) the requirement imposed by section 551 does not apply.
(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 the matter may apply to the Court for an order under subsection (2). (2) On the hearing of an applica…
(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 the application is made in reliance on this section, the Court may make an administration order whether…
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 of a qualifying floating charge in respect of the company's property applies to the Court to have a spe…
(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 application to the Court for an administration order under subsection (2). (2) If the Court makes an a…
(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 made under subsection (1), the Court— (a) shall discharge any liquidation order existing in respect o…
(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 company that is then pending is suspended while the company is under administration. (2) Subsection (1)(a) d…
(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 company. (2) Subsection (1)(b) does not prevent an application from being made for the liquidation of the company under…
(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 Court; (b) a person may take steps to repossess goods in the company's possession under a credit purchase…
(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 administration; (b) the impact of the approval on the applicant particularly whether the applicant is lik…
(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 been granted but the administration order has not yet taken effect. (2) This section also applies from the t…