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

Section 454When not to appoint administrator

An administrator shall not be appointed under section 452 of this Act if —
(a)
a floating charge on which the appointment relies is not enforceable, a holder of the unenforceable charge may apply or join as a mere creditor in an administration application under section 450 of this Act ;
(b)
a provisional liquidator of the company has been appointed under section 585 of this Act ; or
(c)
prior to the commencement of this Act and the coming into effect of this Chapter, a receiver or manager of the company is in office.
Cite as: Companies and Allied Matters Act 2020, section 454

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.