qualifying floating charge
- qualifying floating charge
-
• States that paragraph 14 of Schedule B1 to the Insolvency Act 1986, applies to it;
• Purports to empower the holder of the floating charge to appoint an administrator of the company; or
• Purports to empower the holder of the floating charge to make an appointment which would be the appointment of an administrative receiver within the meaning given by section 29(2) of the Insolvency Act 1986.
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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