(1) For the purposes of this Act “administrator” of a company means a person appointed under this Schedule to manage the company's affairs, business and property.
(2) For the purposes of this Act—
(a) a company is “in administration” while the appointment of an administrator of the company has effect,
(b) a company “enters administration” when the appointment of an administrator takes effect,
(c) a company ceases to be in administration when the appointment of an administrator of the company ceases to have effect in accordance with this Schedule, and
(d) a company does not cease to be in administration merely because an administrator vacates office (by reason of resignation, death or otherwise) or is removed from office.
A person may be appointed as administrator of a company—
(a) by administration order of the court under paragraph 10,
(b) by the holder of a floating charge under paragraph 14, or
(c) by the company or its directors under paragraph 22.
(1) The administrator of a company must perform his functions with the objective of—
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