Insolvency Act 1986, Schedule B1 paragraph 59 (general powers; protection of persons dealing) (IA 1986 Sch B1 para 59(1) and (3))
A buyer or agent dealing with an administrator in good faith and for value need not check the limits of the administrator's powers; we still check the appointment itself.
Dated 17 Oct 2026Source checked 17 Oct 2026Quote found on its page again 28 Oct 2026Basis: primary text
In the source's own words
“(3)A person who deals with the administrator of a company in good faith and for value need not inquire whether the administrator is acting within his powers.”
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