SCHEDULES

F1SCHEDULE B1ADMINISTRATION

REPLACING ADMINISTRATOR

Resignation of administrator

88.

(1)

An administrator may resign only in prescribed circumstances.

(2)

Where an administrator may resign he may do so only—

(a)

in the case of an administrator appointed by administration order, by notice in writing to the High Court,

(b)

in the case of an administrator appointed under paragraph 15, by notice in writing to the holder of the floating charge by virtue of which the appointment was made,

(c)

in the case of an administrator appointed under paragraph 23(1), by notice in writing to the company, or

(d)

in the case of an administrator appointed under paragraph 23(2), by notice in writing to the directors of the company.