Article 27 - Effect of appointment

(1) On the appointment of an Administrator any application for the winding up of the Company shall be dismissed, save that such an application will be suspended while the Company is in administration following the appointment of an Administrator by a Secured Creditor.
(2) During the period when a Company is in administration:
(A) no resolution may be passed or order made for the winding up of the Company;
(B) no landlord or other person to whom rent is payable may exercise any right of forfeiture by peaceable re-entry in relation to premises let to the Company in respect of a failure by the Company to comply with any term or condition of its tenancy of such premises, except with the consent of the Administrator or the leave of the QFC Court and subject (where the Tribunal gives leave) to such terms as the QFC Court may impose;
(C) no other steps may be taken to enforce any security over the Company's property, or to repossess goods in the Company's possession under any hire-purchase agreement, except with the consent of the Administrator or the leave of the QFC Court and subject (where the QFC Court gives leave) to such terms as the QFC Court may impose; and
(D) no other proceedings and no execution or other legal process may be commenced or continued, and no distress may be levied, against the Company or its property except with the consent of the Administrator or the leave of the QFC Court and subject (where the QFC Court gives leave) to such terms as aforesaid.