Paragraph 14 F1

Paragraph 35 is modified so as to read as follows—

“35.

(1)

This paragraph applies where an administration application in respect of a partnership—

(a)

is made by the holder of a qualifying agricultural floating charge in respect of the partnership property, and

(b)

includes a statement that the application is made in reliance on this paragraph.

(2)

The court may make an administration order—

(a)

whether or not satisfied that the partnership is unable to pay its debts; but

(b)

only if satisfied that the applicant could appoint an administrator under paragraph 14.”.