SCHEDULES
F1SCHEDULE B1ADMINISTRATION
REPLACING ADMINISTRATOR
Substitution of administrator appointed by company or directors: creditors' meeting
98.
(1)
This paragraph applies where—
(a)
an administrator of a company is appointed by a company or directors under paragraph 23, and
(b)
there is no holder of a qualifying floating charge in respect of the company's property.
(2)
A creditors' meeting may replace the administrator.
(3)
A creditor's 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.