Paragraph 51 I1

After Article 90(1) (application by exchange or clearing house about taking default proceedings) insert—

“(1A)

In paragraph (1) a reference to an administration order shall be taken to include a reference to the appointment of an administrator under—

(a)

paragraph 15 of Schedule B1 to the Insolvency Order (appointment by holder of qualifying floating charge), or

(b)

paragraph 23 of that Schedule (appointment by company or directors).”