The administrator may make a payment other than in accordance with section 497 or paragraph 13 of the Eleventh Schedule to this Act if he thinks it likely to assist achievement of the purpose of administration.
Companies and Allied Matters Act 2020 · Part B · Chapter 18
Section 503 Payments likely to achieve purpose of administration
Cite as: Companies and Allied Matters Act 2020, section 503
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.