F1SCHEDULE B1ADMINISTRATION
INTRODUCTORY
Interpretation
1.
(1)
In this Schedule—
“administrative receiver” has the meaning given by Article 5(1),
“administrator” has the meaning given by paragraph 2 and, where the context requires, includes a reference to a former administrator,
F2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
“correspondence” includes correspondence by telephonic or other electronic means,
“creditors' meeting” has the meaning given by paragraph 51,
“enters administration” has the meaning given by paragraph 2,
“floating charge” means a charge which is a floating charge on its creation,
“in administration” has the meaning given by paragraph 2,
“hire-purchase agreement” includes a conditional sale agreement, a chattel leasing agreement and a retention of title agreement,
“holder of a qualifying floating charge” in respect of a company's property has the meaning given by paragraph 15,
“market value” means the amount which would be realised on a sale of property in the open market by a willing vendor,
“the purpose of administration” means an objective specified in paragraph 4, and
“unable to pay its debts” has the meaning given by Article 103.
F3(1A)
In this Schedule, “company” means—
F4(a)
a company registered under the Companies Act 2006 in Northern Ireland,
(b)
a company incorporated in an EEA State other than the United Kingdom, or
(c)
a company not incorporated in an EEA State but having its centre of main interests in a member State other than Denmark.
(1B)
In sub-paragraph (1A), in relation to a company, “centre of main interests” has the same meaning F5as in Article 3 of the EU Regulation.
(2)
A reference in this Schedule to a thing in writing includes a reference to a thing in electronic form.
(3)
In this Schedule a reference to action includes a reference to inaction.
F6Non-UK companies
1A.
A company incorporated F7outside the United Kingdom that has a principal place of business in England and Wales or Scotland (or both in England and Wales and in Scotland) may not enter administration under this Schedule unless it also has a principal place of business in Northern Ireland.