Section 472 CAMA 2020

Section 472 Companies and Allied Matters Act is about Application by holder of floating charge. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(1) This section applies where an administration application in respect of a company—

(a) is made by the holder of a floating charge in respect of the company’sproperty ; and

(b) includes a statement that the application is made in reliance on this section.

(2) The Court may make an administration order—

(a) whether or not satisfied that the company is or is likely to become unable to pay its debts ; and

(b) only if satisfied that the applicant could appoint an administrator under section 450 of this Act.