26. Commencement of appointment

(1) The appointment of an administrator of a Company under Section 21 (Power to appoint) takes effect when the requirements of Section 23 (Notice of appointment) are satisfied.
(2) A person who appoints an administrator of a Company under Section 21 (Power to appoint) —
(a) shall notify the administrator of the Company and such other persons as may be prescribed as soon as is reasonably practicable after the requirements of Section 23 (Notice of appointment) are satisfied; and
(b) commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule if he fails without reasonable excuse to comply with paragraph (a).