Schedule B1, paragraph 51

The administrator must seek a decision from the company's creditors as to whether they approve the proposals set out in the statement made under paragraph 49(1). The initial decision date for that decision must be within the period of 10 weeks beginning with the day on which the company enters administration. The “initial decision date” for that decision— if the decision is initially sought using the deemed consent procedure, is the date on which a decision will be made if the creditors by that procedure approve the proposals, and if the decision is initially sought using a qualifying decision procedure, is the date on or before which a decision will be made if it is made by that qualifying decision procedure (assuming that date does not change after the procedure is instigated). A period specified in this paragraph may be varied in accordance with paragraph 107. An administrator commits an offence if he fails without reasonable excuse to comply with a requirement of this paragraph.

← 50 · All articles · 1 →

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