Section 97 — Housing and Planning Act 2016: Objective 1: normal administration

Objective 1: normal administration 97 1 Objective 1 is to—

a rescue the registered provider as a going concern, b achieve a better result for the registered provider's creditors as a whole than would be likely if the registered provider were wound up (without first being in housing administration), or c realise property in order to make a distribution to one or more secured or preferential creditors.

2 The housing administrator must aim to achieve Objective 1(a) unless the housing administrator thinks—

a that it is not reasonably practicable to achieve it, or b that Objective 1(b) would achieve a better result for the registered provider's creditors as a whole.

3 The housing administrator may aim to achieve Objective 1(c) only if—

a the housing administrator thinks that it is not reasonably practicable to achieve Objective 1(a) or (b),

and b the housing administrator does not unnecessarily harm the interests of the registered provider's creditors as a whole.

4 In pursuing Objective 1(a), (b) or (c) the housing administrator must act in the interests of the registered provider's creditors as a whole so far as consistent with that Objective.