(1) Schedule 16 to the Act (Schedule B1 to the Insolvency Act 1986 [1986 c. 45.]) is amended as follows.

(2) At the end of paragraph 12 (administration application) add -

"(5) Sub-paragraph (1) is without prejudice to section 7(4)(b).".

(3) In paragraph 43 (moratorium on other legal process) after sub-paragraph (6) insert -

"(6A) An administrative receiver of the company may not be appointed.".

(4) In paragraph 87(2)(b) (resignation of administrator) for "person who appointed him" substitute "holder of the floating charge by virtue of which the appointment was made".

(5) In paragraph 89(2)(b) (administrator ceasing to be qualified) for "person who appointed him" substitute "holder of the floating charge by virtue of which the appointment was made".