Who is responsible for managing the company's property and business, appointed by a floating charge holder?

The administrative receiver is responsible for managing the company's property and business when appointed by a floating charge holder. This role arises from certain provisions within the Insolvency Act, which allows creditors with floating charges to take control of the assets of a company in financial distress.

The administrative receiver's primary duty is to realize the assets covered by the floating charge and to pay off the debts owed to the floating charge holder. During this process, the administrative receiver takes control of the company, makes decisions regarding its management, and acts in the best interests of the creditor that appointed them, ensuring that they receive payment from the proceeds of the asset sales.

In contrast, while a fixed charge receiver also manages assets of a company, they are appointed under different circumstances—specifically by fixed charge holders. Company voluntary arrangements involve a different process whereby creditors agree to a compromise with the company, and a creditor's committee is generally involved in overseeing insolvency proceedings rather than managing the company's assets directly. Thus, the role of an administrative receiver is specifically aligned with managing the business upon appointment by a floating charge holder, making it the most fitting answer in this context.