SCHEDULES
C1C2C4C3C5F1SCHEDULE B1ADMINISTRATION
Sch. B1 applied (with modifications) (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73, 87(1)(2), 93(3), Sch. 10 Pt. 1, Sch. 10 Pt. 2
Sch. B1 applied (with modifications) by S.R. 1995/225, Sch. 2 (as amended (19.12.2018) by The Banks and Building Societies (Priorities on Insolvency) Order 2018 (S.I. 2018/1244), arts. 1(2), 36 (with art. 3))
Sch. B1 modified by S.R. 1995/225, art. 6, Sch. 2 (as modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 122(3) (with reg. 108))
Sch. B1 modified (28.12.2020 until IP completion day when the amending provision ceases to have effect in accordance with reg. 1(4) of the amending S.I.) by The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/1350), regs. 1(4), 120 (with reg. 108)
Sch. B1 applied (with modifications) (4.1.2024) by S.I. 2021/716, Sch. 2A para. 6 (as inserted by The Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023 (S.I. 2023/1399), reg. 1(2), Sch. 2)
FUNCTIONS OF ADMINISTRATOR
Misfeasance
C6C576
1
The High Court may examine the conduct of a person who—
a
is or purports to be the administrator of a company, or
b
has been or has purported to be the administrator of a company.
2
An examination under this paragraph may be held only on the application of—
a
the official receiver,
b
the administrator of the company,
c
the liquidator of the company,
d
a creditor of the company, or
e
a contributory of the company.
3
An application under sub-paragraph (2) must allege that the administrator—
a
has misapplied or retained money or other property of the company,
b
has become accountable for money or other property of the company,
c
has breached a fiduciary or other duty in relation to the company, or
d
has been guilty of misfeasance.
4
On an examination under this paragraph into a person's conduct the Court may order him—
a
to repay, restore or account for money or property;
b
to pay interest;
c
to contribute a sum to the company's property by way of compensation for breach of duty or misfeasance.
5
In sub-paragraph (3) “administrator” includes a person who purports or has purported to be a company's administrator.
6
An application under sub-paragraph (2) may be made in respect of an administrator who has been discharged under paragraph 99 only with the permission of the Court.
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)