Article 21 - Notice of appointment
(1) A person who appoints an
Administrator of a Company under Article 20 shall file with the QFC Court a notice of appointment.
(2) The notice of appointment must include a declaration by or on behalf of the person who makes the appointment:
(A) that the person is a
(B) that the
Security Interest relied on in making the appointment is (or was) enforceable on the date of the appointment; and
(C) that the appointment is in accordance with these
(3) The declaration shall be made not more than five business days before the notice of appointment is filed with the
(4) The notice of appointment must state the name and address for service of the
Administrator and must be accompanied by a statement by the Administrator:
(A) that he consents to the appointment; and
(B) that in his opinion one or more of the purposes of administration referred to in Article 7 is likely to be achieved.
(5) For the purpose of a statement under Article 21(4) an
Administrator may rely on information supplied by directors of the Company or the Secured Creditor (unless he has reason to doubt its accuracy).
(6) A person commits a contravention and is liable to a financial penalty if in a declaration under Article 21(2) he makes a statement:
(A) which is false; and
(B) which he does not reasonably believe to be true.
(7) Three copies of the notice of appointment shall be filed with the
QFC Court and shall have applied to them the seal of the QFC Court and be endorsed with the date and time of filing.
QFC Court shall issue two of the sealed copies of the notice of appointment to the person making the appointment, who shall as soon as reasonably practicable send one of the sealed copies to the Administrator.
(9) Where, after receiving notice that an administration application has been made, a
Secured Creditor appoints an Administrator in reliance on Article 20, he shall as soon as reasonably practicable send a copy of the notice of appointment to the person making the administration application and to the QFC Court.