SCHEDULES
F1C1C2C3SCHEDULE B1 ADMINISTRATION
Sch. B1 applied in part (with modifications) (5.10.2004) by Energy Act 2004 (c. 20), ss. 159(1), 198, Sch. 20 Pts. 1-3; S.I. 2004/2575, art. 2(1), Sch. 1
Sch. B1 applied (with modifications) (1.7. 2005) by S.I. 1994/2421, art. 6(1), Sch. 2 (as amended (1.7.2005) by S.I. 2005/1516, arts. 3, 7, Sch. 1 (with art. 2))
Sch. B1: specified provisions applied (with modifications) (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73, 93(2)(3), {Sch. 10 Pts. 1, 2}; S.I. 2011/2329, art. 3 (with arts. 4, 5)
APPOINTMENT OF ADMINISTRATOR BY HOLDER OF FLOATING CHARGE
15Restrictions on power to appoint
1
A person may not appoint an administrator under paragraph 14 unless—
a
he has given at least two business days’ written notice to the holder of any prior floating charge which satisfies paragraph 14(2), or
b
the holder of any prior floating charge which satisfies paragraph 14(2) has consented in writing to the making of the appointment.
2
One floating charge is prior to another for the purposes of this paragraph if—
a
it was created first, or
b
it is to be treated as having priority in accordance with an agreement to which the holder of each floating charge was party.
3
Sub-paragraph (2) shall have effect in relation to Scotland as if the following were substituted for paragraph (a)—
“
it has priority of ranking in accordance with section 464(4)(b) of the Companies Act 1985 (c. 6), ".
Sch. B1 inserted (15.9.2003) by 2002 c. 40, ss. 248(2), 279, Sch. 16 (with s. 249(1)-(3)(6)); S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))