Application by holder of floating chargeE+W+S
[F135(1)This paragraph applies where an administration application in respect of a company—
(a)is made by the holder of a qualifying floating charge in respect of the company’s property, and
(b)includes a statement that the application is made in reliance on this paragraph.
(2)The court may make an administration order—
(a)whether or not satisfied that the company is or is likely to become unable to pay its debts, but
(b)only if satisfied that the applicant could appoint an administrator under paragraph 14.]
Textual Amendments
F1Sch. 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))