Schedule B1, paragraph 97

This paragraph applies where— an administrator of a company is appointed by a company or directors under paragraph 22, and there is no holder of a qualifying floating charge in respect of the company’s property. The administrator may be replaced by a decision of the creditors made by a qualifying decision procedure. The decision has effect only if, before the decision is made, the new administrator has consented to act in writing.

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