566
In forceEffect of floating charge
Volume 2Chapter 2L, Part 2L.1 to Chapter 5, Part 5.9 sections 283AA to 600K
Chapter 5External administration
Part 5.6Winding up generally
Division 7Effect on certain transactions
566 Effect of floating charge
A floating charge on the undertaking or property of the company created before 23 June 1993 and within 6 months before the relation‑back day is, unless it is proved that the company immediately after the creation of the charge was solvent, invalid except to the amount of any money paid to the company at the time of or subsequently to the creation of and in consideration for the charge together with interest on that amount at the rate of 8% per annum or at such other rate as is prescribed.
This Act’s bill:Explanatory memorandumSecond reading speech
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