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Insolvency Law – Floating charge-holder able to appoint administrative receiver?

In insolvency law, is a floating chargeholder able to appoint an administrative receiver?
From my lecture notes, it says that this is the primary benefit of holding a floating charge over a fixed charge.

BUT s72A IA says that they are no longer able to appoint receivers.

some sources online say that they are allowed, and others say they are not allowed. Are there special circumstances? Did they used to be allowed and the law recently changed? I really don’t understand how some places say they are and some say they are not! PLEASE HELP!

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One Response to "Insolvency Law – Floating charge-holder able to appoint administrative receiver?"

  1. CHRIS says:
    It depends on the date of the creation of the charge. If this is prior to Sep 2003 then they can still appoint a receiver. If it is is post Sep 2003 then they can only appoint an administrator under Schedule B1 and not a receiver.

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