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

Section 525Resignation of administrator

(1)
An administrator may resign only in prescribed circumstances.
(2)
An administrator may resign only where he is appointed—
(a)
by administration order, by notice in writing to the Court ;
(b)
under section 452 of this Act, by notice in writing to the holder of the floating charge by virtue of which the appointment was made ;
(c)
under section 459 (1) of this Act, by notice in writing to the company ; or
(d)
under section 459 (2) of this Act, by notice in writing to the directors of the company.
Cite as: Companies and Allied Matters Act 2020, section 525

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.