Article 42 - Administrators

(1) This Part does not apply in relation to Personal Property over which an administrator has been appointed in accordance with the Insolvency Regulations.
(2) Without prejudice to paragraph (1), a Security Agreement may provide for the appointment of an administrator in accordance with the Insolvency Regulations and, except as provided in these Regulations or any other Regulations or rules made by the QFC Authority, for the rights, powers and duties of an administrator.