Section 473

(1) This section applies where-

(a) an administration application in respect of a company is made by a person who is not the holder of a floating charge in respect of the company's property; and

(b) the holder of a floating charge in respect of the company's property applies to the Court to have a specified person appointed as administrator and not the person specified by the administration applicant.

(2) The Court shall grant an application under subsection (1) (b) unless the Court deems it right to refuse the application because of the particular circumstances of the case.