| Commentary

92 Power to appoint

| Commentary

4: APPOINTMENT OUT OF COURT BY QUALIFYING FLOATING CHARGE HOLDER

92 Power to appoint

The holder of a qualifying floating charge in respect of the company’s property may appoint an administrator of the company provided that the charge is enforceable1, that is to say an event of default (or other circumstance) has occurred which, under the terms of the charge, allows the charge holder to appoint an administrator or administrative receiver2. The definition of what is (and who is a holder of) a qualifying floating charge is, in effect, the same as in relation to the

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