Section 72A

The holder of a qualifying floating charge in respect of a company’s property may not appoint an administrative receiver of the company. In Scotland, the holder of a qualifying floating charge in respect of a company’s property may not appoint or apply to the court for the appointment of a receiver who on appointment would be an administrative receiver of property of the company. In subsections (1) and (2)— “holder of a qualifying floating charge in respect of a company’s property” has the same meaning as in paragraph 14 of Schedule B1 to this Act, and “administrative receiver” has the meaning given by section 251. This section applies— to a floating charge created on or after a date appointed by the Secretary of State by order made by statutory instrument, and in spite of any provision of an agreement or instrument which purports to empower a person to appoint an administrative receiver (by whatever name). An order under subsection (4)(a) may— make provision which applies generally or only for a specified purpose; make different provision for different purposes; make transitional provision. This section is subject to the exceptions specified in sections 72B to 72GA .

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