| Commentary

101 Notices required

| Commentary

101 Notices required

The procedure to be followed depends on whether there is a secured creditor of the company who is the holder of a qualifying floating charge. If there is, whether or not his right under the terms of his security to appoint an administrative receiver (or an administrator under the Insolvency Act 1986 Schedule B1 paragraph 14) has become exercisable1, it is necessary to give him a preliminary notice of intention to make the appointment before proceeding to a notice of appointment2.

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