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Rule 2.120 Notice of intention to resignF1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

  • rule 2.120(1) words substituted by Insolvency 2010 Sch. 1 para. 102(2)
  • rule 4.54(5-CVL) substituted for rule 4.54(5) by Insolvency 2010 Sch. 1 para. 179(5)
(1)

The administrator shall in all cases give at least 7 days' notice in [FORM 4.7]Form 2.37B of his intention to resign, or to apply for the court’s permission to do so, to the following persons—

(a)

if there is a continuing administrator of the company, to him; and

(b)

if there is a creditors' committee to it; but

(c)

if there is no such administrator and no creditors' committee, to the company and its creditors.

(2)

Where the administrator gives notice under paragraph (1), he shall also give notice to a member State liquidator, if such a person has been appointed in relation to the company.

(3)

Where the administrator was appointed by the holder of a qualifying floating charge under paragraph 14, the notice of intention to resign shall also be sent to all holders of prior qualifying floating charges, and to the person who appointed the administrator. A copy of the notice shall also be sent to the holder of the floating charge by virtue of which the appointment was made.

(4)

Where the administrator was appointed by the company or the directors of the company under paragraph 22, a copy of the notice of intention to resign shall also be sent to the appointor and all holders of a qualifying floating charge.

Annotations

Textual amendments

F1

Pt. 2 substituted (15.9.2003) by The Insolvency (Amendment) Rules 2003 (S.I. 2003/1730), rule 1(2), Sch. 1 para. 9 (with rule 5(2)-(4))