# Insolvency Act 1986, Paragraph 97: Substitution of administrator appointed by company or directors: creditors’ decision

Extent: E+W+S

(1) This paragraph applies where—
(a) an administrator of a company is appointed by a company or directors under paragraph 22, and
(b) there is no holder of a qualifying floating charge in respect of the company’s property.
(2) The administrator may be replaced by a decision of the creditors made by a qualifying decision procedure.
(3) The decision has effect only if, before the decision is made, the new administrator has consented to act in writing.

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Source: https://www.legislation.gov.uk/ukpga/1986/45/schedule/B1/paragraph/97 (the official version)
Page: https://openlegislation.uk/insolvency-act-1986/schedule-B1/paragraph-97
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.