[72A Floating charge holder not to appoint administrative receiver]
[72A Floating charge holder not to appoint administrative receiver]

[(1)     The holder of a qualifying floating charge in respect of a company's property may not appoint an administrative receiver of the company.

(2)     In Scotland, the holder of a qualifying floating charge in respect of a company's property may not appoint or apply to the court for the appointment of a receiver who on appointment would be an administrative receiver of property of the company.

(3)     In subsections (1) and (2)—

“holder of a qualifying floating charge in respect of a company's property” has the same meaning as in paragraph 14 of Schedule B1 to this Act, and

“administrative receiver” has the meaning given by section 251.

(4)     This section applies—

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