ADVOKS GLOBAL · KENYA
Insolvency Act
535. Restrictions on the power of holder of floating charge to appoint administrator
Edition: 2022-12-31 · In force
535. Restrictions on the power of holder of floating charge to appoint administrator
(1)A person may not appoint an administrator under section 534 unless the person has given at least three days' notice to the holder of any prior floating charge that satisfies subsection (2) of that section.(2)For the purposes of subsection (1), the priority of a floating charge shall be determined in accordance with the Movable Property Security Rights Act.