Schedule 16, paragraph 97

This paragraph applies where— an administrator of a company is appointed by a company or directors under paragraph 22, and there is no holder of a qualifying floating charge in respect of the company’s property. A creditors’ meeting may replace the administrator. A creditors’ meeting may act under sub-paragraph (2) only if the new administrator’s written consent to act is presented to the meeting before the replacement is made.

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