Valid from 15/09/2003
91(1)Where the administrator was appointed by administration order, the court may replace the administrator on an application under this sub-paragraph made by—E+W+S
(a)a creditors’ committee of the company,
(b)the company,
(c)the directors of the company,
(d)one or more creditors of the company, or
(e)where more than one person was appointed to act jointly or concurrently as the administrator, any of those persons who remains in office.
(2)But an application may be made in reliance on sub-paragraph (1)(b) to (d) only where—
(a)there is no creditors’ committee of the company,
(b)the court is satisfied that the creditors’ committee or a remaining administrator is not taking reasonable steps to make a replacement, or
(c)the court is satisfied that for another reason it is right for the application to be made.]
Modifications etc. (not altering text)
C4Sch. B1 para. 91 applied (with modifications) (17.2.2009 for certain purposes, otherwise 21.2.2009) by Banking Act 2009 (c. 1), ss. 145, 263(1)(2) (with s. 247); S.I. 2009/296, arts. 2, 3, Sch. para. 3