Insolvency Act 1986, Schedule B1, paragraph 14

SCHEDULE B1 ADMINISTRATION

Definitions used in Schedule B1, paragraph 14 4

holder of a qualifying floating charge

“holder of a qualifying floating charge” in respect of a company’s property has the meaning given by paragraph 14,

Defined in Sch.B1 para.111(1) · see it in the full Act
the company

2 Section 233B does not apply in relation to a contract for the supply of goods or services to a company (“the company”) where any of paragraphs 3 to 11 applies.

Defined in Sch.4ZZA para.2 · see it in the full Act
company

(1A) In this Schedule, “company” means—

(a)a company registered under the Companies Act 2006 in England and Wales or Scotland,

(b)a company incorporated in an EEA State ..., or

(c)a company not incorporated in an EEA State but having its centre of main interests in a member State (other than Denmark) or in the United Kingdom .

Defined in Sch.B1 para.111(1A) · see it in the full Act
administrator

1 (1) For the purposes of this Act “administrator” of a company means a person appointed under this Schedule to manage the company’s affairs, business and property.

Defined in Sch.B1 para.1(1) · see it in the full Act

“administrator” has the meaning given by paragraph 1 and, where the context requires, includes a reference to a former administrator,

Defined in Sch.B1 para.111(1) · see it in the full Act

Cases considering Schedule B1, paragraph 14 53

Glint Pay Ltd & Ors v Jason Daniel Baker & Anor

[2026] EWCA Civ 1023 · 31 July 2026Defines

The court applied the definition of a qualifying floating charge to explain why the security holder could appoint an administrator out of court rather than an administrative receiver. (see paras [76]; [78])

SAW (SW) 2010 Ltd & Anor v Wilson & Ors

[2017] EWCA Civ 1001 · 25 July 2017Interprets

A floating charge qualifies where the statutory requirements are satisfied and it relates to the whole or substantially the whole of the company’s property. No additional requirement demands assets available to the charge when it is created. (see paras [24]-[28]; [47]-[50]) The debenture satisfied the conditions for a qualifying floating charge because it stated that paragraph 14 applied and purported to empower its holder to appoint an administrator and an administrative receiver. (see para [47]) A charge can relate to the whole or substantially the whole of a company’s property where it will take effect over all such property when that property comes into existence. Existing uncharged assets are unnecessary. (see paras [47]-[48])

Phlo Technologies Ltd v Tallaght Financial Ltd (t/a Cubefunder)

[2025] EWHC 1405 (Ch) · 16 June 2025Interprets

The court considered the claimed right of a qualifying floating charge holder to appoint an administrator under paragraph 14(1). It held that a substantial dispute about the secured debt did not automatically prevent consideration of the appointment or require an injunction.

33 more judgments, and what each says about Schedule B1, paragraph 14, are in the case-law panel in the full Act.

Amendments and notes

2 notes from legislation.gov.uk

Modifications

  1. C1351Sch. B1 para. 14 restricted (5.10.2004) by Energy Act 2004 (c. 20), ss. 163, 198; S.I. 2004/2575, art. 2(1), Sch. 1
  2. C1352Sch. B1 para. 14 modified (5.7.2018) by Housing and Planning Act 2016 (c. 22), ss. 107, 216(3) (with ss. 116, 117); S.I. 2018/805, reg. 3(a)