Section 245(3)

Subject to the next subsection, the time at which a floating charge is created by a company is a relevant time for the purposes of this section if the charge is created— in the case of a charge which is created in favour of a person who is connected with the company, at a time in the period of 2 years ending with the onset of insolvency, in the case of a charge which is created in favour of any other person, at a time in the period of 12 months ending with the onset of insolvency,. . . in either case, at a time between the making of an administration application in respect of the company and the making of an administration order on that application, or in either case, at a time between the filing with the court of a copy of notice of intention to appoint an administrator under paragraph 14 or 22 of Schedule B1 and the making of an appointment under that paragraph.

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