239ACDWho may be appointed as deed administrator

1. A person may be appointed as a deed administrator of a company if the person—

2. is a licensed insolvency practitioner who is permitted to act as a deed administrator of the company under the Insolvency Practitioners Regulation Act 2019; and
3. is not disqualified under subsection (2).

4. Unless the court orders otherwise, a person is disqualified from appointment as a deed administrator of a company if the person would be disqualified from appointment as a liquidator of that company under section 280(2).

5. For the purpose of subsection (2),—

6. in section 280,—
   1. a reference to the commencement of the liquidation must be read as if it were a reference to the execution of the deed of company arrangement:
   2. a reference to a company must be read as if it were a reference to the company under a deed of company arrangement; and
7. section 280(4)(c) does not apply.

8. A person commits an offence, and is liable on conviction to the penalty set out in section 373(2), if—

9. the person knows or ought reasonably to know that they are disqualified under subsection (2); and
10. the person,—
    1. with their consent, is appointed as a deed administrator; or
    2. acts as a deed administrator.

11. See also section 8(2) of the Insolvency Practitioners Regulation Act 2019.

Notes

• Section 239ACD: replaced, on 1 September 2020, by section 19 of the Insolvency Practitioners Regulation (Amendments) Act 2019 (2019 No 28).