134. Administrator ceasing to be licensed

(1) The administrator of a Company or of a Deed of Company Arrangement shall vacate office if he ceases to be licensed to act as an insolvency practitioner in relation to the Company or a Deed of Company Arrangement.
(2) Where an administrator vacates office by virtue of subsection (1) he shall give notice in writing —
(a) in the case of an administrator of a Company appointed by administration order, to the Court;
(b) in the case of an administrator of a Company appointed under Section 21 (Power to appoint), to the holder of the qualifying charge by virtue of which the appointment was made;
(c) in the case of an administrator of a Company appointed under Section 29(1) (Power to appoint), to the Company;
(d) in the case of an administrator of a Company appointed under Section 29(2) (Power to appoint), to the Directors of the Company; or
(e) in the case of an administrator of a Deed of Company Arrangement, to the Company, the creditors of the Company and the Court.
(3) An administrator who fails without reasonable excuse to comply with subsection (2) commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule.