Section 512 CAMA 2020

Section 512 Companies and Allied Matters Act is about Misfeasance. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(1) The Court may examine the conduct of a person who—

(a) is, or purports to be, the administrator of a company ; or

(b) has been, or has purported to be, the administrator of a company.

(2) An examination under this section may be held only on the application of—

(a) the official receiver ;

(b) the administrator of the company ;

(c) the liquidator of the company ;

(d) a creditor of the company ; or

(3) An application under subsection (2) shall allege that the administrator has—

(a) misapplied or retained money or other property of the company ;

(b) become accountable for money or other property of the company ;

(c) breached a fiduciary or other duty in relation to the company ; or

(4) On an examination under this section into a person’s conduct, the Court may order him to—

(a) repay, restore or account for money or property ;

(b) pay interest ; or

(c) contribute a sum to the company’s property by way of compensationfor breach of duty or misfeasance.

(5) An application under subsection (2) may be made in respect of an administrator who has been discharged under section 523 of this Act only with the permission of the Court.

(6) In subsection (3), “administrator” includes a person who purports or has purported to be an administrator of a company.