Schedule 16, paragraph 3(1)

The administrator of a company must perform his functions with the objective of— rescuing the company as a going concern, or achieving a better result for the company’s creditors as a whole than would be likely if the company were wound up (without first being in administration), or realising property in order to make a distribution to one or more secured or preferential creditors.

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