{
  "url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/schedule-B1/paragraph-4",
  "json_url": "https://openlegislation.uk/insolvency-northern-ireland-order-1989/schedule-B1/paragraph-4.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/4",
  "kind": "paragraph",
  "number": "4",
  "heading": null,
  "text": "(1) The administrator of a company must perform his functions with the objective of—\n(a) rescuing the company as a going concern, or\n(b) achieving a better result for the company's creditors as a whole than would be likely if the company were wound up (without first being in administration), or\n(c) realising property in order to make a distribution to one or more secured or preferential creditors.\n(2) Subject to sub-paragraph (4), the administrator of a company must perform his functions in the interests of the company's creditors as a whole.\n(3) The administrator must perform his functions with the objective specified in sub-paragraph (1)(a) unless he thinks either—\n(a) that it is not reasonably practicable to achieve that objective, or\n(b) that the objective specified in sub-paragraph (1)(b) would achieve a better result for the company's creditors as a whole.\n(4) The administrator may perform his functions with the objective specified in sub-paragraph (1)(c) only if—\n(a) he thinks that it is not reasonably practicable to achieve either of the objectives specified in sub-paragraph (1)(a) and (b), and\n(b) he does not unnecessarily harm the interests of the creditors of the company as a whole.",
  "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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    {
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  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1989/2405/schedule/B1/paragraph/4",
    "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."
}