130. Notice of intention to resign

(1) The administrator shall in all cases give at least five (5) business days' notice in the prescribed form of his intention to resign, or to apply for the Court's permission to do so, to the following persons —
(a) in the case of an administrator of the Company —
(i) if there is a continuing administrator of the Company, to him; and
(ii) if there is a creditors' committee, to it; but
(iii) if there is no such administrator and no creditors' committee, to the Company and its creditors.
(b) in the case of an administrator of a Deed of Company Arrangement, to the Company and its creditors.
(2) Where the administrator of a Company was appointed by the holder of a qualifying charge under Section 21 (Power to appoint), the notice of intention to resign shall also be sent to all holders of prior qualifying charges, and to the person who appointed the administrator of the Company.
(3) Where the administrator of the Company was appointed by the Company or the Directors of the Company under Section 29 (Power to appoint), a copy of the notice of intention to resign shall also be sent to the appointor and all holders of a qualifying charge.