Section 472 - Administration Application - Special Cases

(1) This section applies where an administration application in respect of a company-

(a) is made by the holder of a floating charge in respect of the company's property; and

(b) includes a statement that the application is made in reliance on this section.

(2) The Court may make an administration order-

(a) whether or not satisfied that the company is or is likely to become unable to pay its debts; and

(b) only if satisfied that the applicant could appoint an administrator under section 450 of this Act.