Schedule B1, paragraph 14(3)

For the purposes of sub-paragraph (1) a person is the holder of a qualifying floating charge in respect of a company’s property if he holds one or more debentures of the company secured— by a qualifying floating charge which relates to the whole or substantially the whole of the company’s property, by a number of qualifying floating charges which together relate to the whole or substantially the whole of the company’s property, or by charges and other forms of security which together relate to the whole or substantially the whole of the company’s property and at least one of which is a qualifying floating charge.

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Source: legislation.gov.uk · retrieved 2026-09-04