175 Administration orders, &c
Companies Act 1989 (1989 c 40) | Legislation

175  Administration orders, &c

[(1)     The following provisions of Schedule B1 to the Insolvency Act 1986 (administration) do not apply in relation to a market charge—

(a)     paragraph 43(2) and (3) (restriction on enforcement of security or repossession of goods) (including that provision as applied by paragraph 44 (interim moratorium)), and

(b)     paragraphs 70, 71 and 72 (power of administrator to deal with charged or hire-purchase property).

(1A)     Paragraph 41(2) of that Schedule (receiver to vacate office at request of administrator) does not apply to a receiver appointed under a market charge.]

(2)     However, where a market charge falls to be enforced after [the occurrence of an event to which subsection (2A) applies], and there exists another charge over some or all of the same property ranking in priority to or pari passu with the market charge, [on the application of any person interested]

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