SCHEDULES
F1SCHEDULE B1 ADMINISTRATION
PROCESS OF ADMINISTRATION
F2Creditors' decision
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F3(1)
The company's creditors may approve the administrator's proposals—
(a)
without modification, or
(b)
with modification to which the administrator consents.
(2)
F4The administrator shall as soon as is reasonably practicable report any decision taken F5by the company's creditors to—
(a)
the court,
(b)
the registrar of companies, and
(c)
such other persons as may be prescribed.
(3)
An administrator commits an offence if he fails without reasonable excuse to comply with sub-paragraph (2).