Point in time view as at 15/09/2003.
Insolvency Act 1986, Paragraph 37 is up to date with all changes known to be in force on or before 01 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F137(1)This paragraph applies where the holder of a qualifying floating charge in respect of a company’s property could appoint an administrator under paragraph 14 but for paragraph 8(1)(b).
(2)The holder of the qualifying floating charge may make an administration application.
(3)If the court makes an administration order on hearing an application made by virtue of sub-paragraph (2)—
(a)the court shall discharge the winding-up order,
(b)the court shall make provision for such matters as may be prescribed,
(c)the court may make other consequential provision,
(d)the court shall specify which of the powers under this Schedule are to be exercisable by the administrator, and
(e)this Schedule shall have effect with such modifications as the court may specify.]
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))
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