The Compendium

If there is an out of court appointment and there is no-one to whom notice has to be given under Sch B1 para 26 Insolvency Act 1986 the appointor can proceed to immediately .le a Notice of Appointment; so no interim moratorium is necessary.]

Sch B1 paras 42 and 43 Insolvency Act 1986 imposes an interim moratorium where an Administration application has been made, but it has not yet been granted or taken effect.

In this instance moratorium provisions akin to a 'full moratorium' (above) kick in, with a couple of provisos:

• If there is an Administrative Receiver (AR) of the company in place when the Administration application is made, the provisions of paragraphs 42 and 43 of Schedule B1 Insolvency Act 1986 do not begin to apply until the person by whom the AR was appointed consents to the Administration Order being made.
• The making of the application does not prevent or require the court's permission for the appointment of an Administrator by a qualifying floating chargeholder.

An interim moratorium also comes into operation where a Notice of Intention to Appoint an Administrator has been .led by a qualifying floating chargeholder, or the company, or the directors (in other words, the out of court procedure).

The interim moratorium will then be in place until the Administrator's appointment takes effect . . or ten business days beginning with the date of .ling expires without an Administrator having been appointed.

[See 'Moratorium (Administrations)', 'Administrative Receiver', 'Insolvency Act', 'Qualifying Floating Chargeholder' and 'Administrator'.]

Intra Vires

Intra Vires is a Latin phrase which means 'within the powers'. The term relates generally to an action taken within an organisation's or person's scope of authority as conferred by statute.