Schedule 16, paragraph 14(2)

For the purposes of sub-paragraph (1) a floating charge qualifies if created by an instrument which— states that this paragraph applies to the floating charge, purports to empower the holder of the floating charge to appoint an administrator of the company, purports to empower the holder of the floating charge to make an appointment which would be the appointment of an administrative receiver within the meaning given by section 29(2), or purports to empower the holder of a floating charge in Scotland to appoint a receiver who on appointment would be an administrative receiver.

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