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Companies and Allied Matters Act 2020 · Part B · Chapter 18

Section 451 Powers of Court in administration application

(1)
On hearing an administration application, the Court may—
(a)
make the administration order sought ;
(b)
dismiss the application ;
(c)
adjourn the hearing conditionally or unconditionally ;
(d)
make an interim order ;
(e)
treat the application as a winding-up petition and make any order which the Court could make under section 574 of this Act ; or (f ) make any other order which the Court deems appropriate.
(2)
An appointment of an administrator by an administration order takes effect—
(a)
at a time appointed by the order ; or
(b)
where no time is appointed by the order, when the order is made.
(3)
An interim order under subsection (1) (d) may, in particular—
(a)
restrict the exercise of a power of the directors or the company ; or
(b)
make provision conferring a discretion on the Court or on a person qualified to act as an insolvency practitioner in relation to the company.
(4)
This section is subject to section 573 of this Act.
Cite as: Companies and Allied Matters Act 2020, section 451

What this section means

From the guide: What is administration of a company under CAMA 2020?

Administration puts an administrator in charge of a struggling company. Here is how it starts, what it freezes, and the deadlines under sections 443 to 549.

Read the whole subject

Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.