Schedule 16, paragraph 108

A period specified in paragraph 49(5), 50(1)(b) or 51(2) may be varied in respect of a company by the administrator with consent. In sub-paragraph (1) “consent” means consent of— each secured creditor of the company, and if the company has unsecured debts, creditors whose debts amount to more than 50% of the company’s unsecured debts, disregarding debts of any creditor who does not respond to an invitation to give or withhold consent. But where the administrator has made a statement under paragraph 52(1)(b) “consent” means— consent of each secured creditor of the company, or if the administrator thinks that a distribution may be made to preferential creditors, consent of— each secured creditor of the company, and preferential creditors whose debts amount to more than 50% of the total preferential debts of the company, disregarding debts of any creditor who does not respond to an invitation to give or withhold consent. Consent for the purposes of sub-paragraph (1) may be— written, or signified at a creditors’ meeting. The power to extend under sub-paragraph (1)— may be exercised in respect of a period only once, may not be used to extend a period by more than 28 days, may not be used to extend a period which has been extended by the court, and may not be used to extend a period after expiry.

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