Article 8 - Administration Order

(1) The QFC Court may make an Administration Order in relation to the Company if, and only if, it is satisfied:
(A) that the Company is or is likely to become unable to pay its debts (within the meaning given to that expression by Article 78; and
(B) that the making of an order under this Article 8 would be likely to achieve one or more of the purposes set out in Article 7.
(2) An Administrator of a Company means a person appointed under these Regulations to manage the Company's affairs, business and property.
(3) The Adminstration Order shall specify the purpose or purposes for which it is made.
(4) An Adminstration Order shall not be made in relation to a Company after it has gone into Liquidation.