(1)
The administrator of a company shall vacate office if he ceases to be qualified to act as an insolvency practitioner in relation to the company.
(2)
Where an administrator vacates office by virtue of subsection (1) he shall give notice in writing, in the case of an administrator appointed—
(a)
by administration order, to the Court ;
(b)
under section 452 of this Act, to the holder of the floating charge by virtue of which the appointment was made ;
(c)
under section 459 (1) of this Act, to the company ; or
(d)
under section 459 (2) of this Act, to the directors of the company.
(3)
An administrator who fails, without reasonable excuse, to comply with subsection (2) commits an offence.