{
  "url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/schedule-B1/paragraph-15",
  "json_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/schedule-B1/paragraph-15.json",
  "legislation": "nisi/1989/2405",
  "legislation_title": "The Insolvency (Northern Ireland) Order 1989",
  "legislation_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989",
  "path": "schedule/B1/paragraph/15",
  "kind": "paragraph",
  "number": "15",
  "heading": null,
  "text": "(1) The holder of a qualifying floating charge in respect of a company's property may appoint an administrator of the company.\n(2) For the purposes of sub-paragraph (1) a floating charge qualifies if created by an instrument which—\n(a) states that this paragraph applies to the floating charge,\n(b) purports to empower the holder of the floating charge to appoint an administrator of the company, or\n(c) purports to empower the holder of the floating charge to make an appointment which would be the appointment of an administrative receiver within the meaning given by Article 5(1).\n(3) For the purposes of sub-paragraph (1) a person is the holder of a qualifying floating charge in respect of a company's property if he holds one or more debentures of the company secured—\n(a) by a qualifying floating charge which relates to the whole or substantially the whole of the company's property,\n(b) by a number of qualifying floating charges which together relate to the whole or substantially the whole of the company's property, or\n(c) by charges and other forms of security which together relate to the whole or substantially the whole of the company's property and at least one of which is a qualifying floating charge.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. B1 inserted (27.3.2006) by Insolvency (Northern Ireland) Order 2005 (S.I. 2005/1455 (N.I. 10)), arts. 1(3), 3(2), Sch. 1 (with art. 4); S.R. 2006/21, art. 2 (with S.R. 2006/22, arts. 2-7)"
    }
  ],
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    },
    {
      "type": "substituted for para (d)",
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  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1989/2405/schedule/B1/paragraph/15",
    "retrieved_at": "2026-10-29T04:47:04.938020+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}