(1)
This section applies where an administrator reports to the Court that—
(a)
an initial creditors’ meeting has failed to approve the administrator’s proposals presented to it ; or
(b)
a creditors’ meeting has failed to approve a revision of the administrator’s proposals presented to it.
(2)
The Court may—
(a)
provide that the appointment of an administrator shall cease to have effect from a specified time ;
(b)
adjourn the hearing conditionally or unconditionally ;
(c)
make an interim order ;
(d)
make an order on a petition for winding-up suspended by virtue of section 462 (b) of this Act; or
(e)
make any other order, including an order making consequential provision, that the Court deems appropriate.