SCHEDULES
F3C1C2C3SCHEDULE B1 ADMINISTRATION
Sch. B1 applied in part (with modifications) (5.10.2004) by Energy Act 2004 (c. 20), ss. 159(1), 198, Sch. 20 Pts. 1-3; S.I. 2004/2575, art. 2(1), Sch. 1
Sch. B1 applied (with modifications) (1.7. 2005) by S.I. 1994/2421, art. 6(1), Sch. 2 (as amended (1.7.2005) by S.I. 2005/1516, arts. 3, 7, Sch. 1 (with art. 2))
Sch. B1: specified provisions applied (with modifications) (1.10.2011) by Postal Services Act 2011 (c. 5), ss. 73, 93(2)(3), {Sch. 10 Pts. 1, 2}; S.I. 2011/2329, art. 3 (with arts. 4, 5)
FUNCTIONS OF ADMINISTRATOR
74Challenge to administrator’s conduct of company
1
A creditor or member of a company in administration may apply to the court claiming that—
a
the administrator is acting or has acted so as unfairly to harm the interests of the applicant (whether alone or in common with some or all other members or creditors), or
b
the administrator proposes to act in a way which would unfairly harm the interests of the applicant (whether alone or in common with some or all other members or creditors).
2
A creditor or member of a company in administration may apply to the court claiming that the administrator is not performing his functions as quickly or as efficiently as is reasonably practicable.
3
The court may—
a
grant relief;
b
dismiss the application;
c
adjourn the hearing conditionally or unconditionally;
d
make an interim order;
e
make any other order it thinks appropriate.
4
In particular, an order under this paragraph may—
a
regulate the administrator’s exercise of his functions;
b
require the administrator to do or not do a specified thing;
c
require a creditors’ meeting to be held for a specified purpose;
d
provide for the appointment of an administrator to cease to have effect;
e
make consequential provision.
5
An order may be made on a claim under sub-paragraph (1) whether or not the action complained of—
a
is within the administrator’s powers under this Schedule;
b
was taken in reliance on an order under paragraph 71 or 72.
6
An order may not be made under this paragraph if it would impede or prevent the implementation of—
a
a voluntary arrangement approved under Part I,
b
a compromise or arrangement sanctioned under section 425 of the Companies Act (compromise with creditors and members), F1. . .
F2ba
a cross-border merger within the meaning of regulation 2 of the Companies (Cross-Border Mergers) Regulations 2007, or
c
proposals or a revision approved under paragraph 53 or 54 more than 28 days before the day on which the application for the order under this paragraph is made.
Sch. B1 inserted (15.9.2003) by 2002 c. 40, ss. 248(2), 279, Sch. 16 (with s. 249(1)-(3)(6)); S.I. 2003/2093, art. 2(1), Sch. 1 (subject to arts. 3-8 (as amended by S.I. 2003/2332, art. 2))