| Commentary

67 Administration

| Commentary



67 Administration

Administration is a procedure whereby a company1 may be permitted an indulgence (or moratorium) in respect of its debts by the appointment of an administrator either2:

  1. 67.1

        By a notice of appointment with prescribed contents3 given by the holder of a qualifying floating charge4 and filed in court;

  2. 67.2

        By a notice of appointment with prescribed contents5 given by the company (or its directors) and filed in court; or

  3. 67.3

        By the order of the court6.

The expression ‘moratorium’ is something of a misnomer because the effect of administration, whilst the procedure is in operation, is merely

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