The Insolvency Act 1986 (IA 1986) provides for the out-of-court appointment of an administrator by a company or its directors—see particularly, IA 1986, Sch B1, para 22, and Sch B1, paras 26–31, as well as the Insolvency (England and Wales) Rules 2016 (IR 2016), SI 2016/1024, rr 3.23 and 3.24. The company or its directors who propose to make the appointment of an administrator of the company (as they are empowered to do by IA 1986, Sch B1, para 22) are required by IA 1986, Sch B1, para 26(1) to give at least five