Section 541 CAMA 2020
Section 541 Companies and Allied Matters Act is about Joint and concurrent administrators acting with administrator of company. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.
(1) Where a company is in administration, a person may be appointed to act as administrator jointly or concurrently with the person or persons acting as the administrator of the company.
(2) Where a company entered administration by administration order,an appointment under subsection (1) shall be made by the Court on the application of—
(a) a person or group listed in section 450(1)(a-e) of this Act ; or
(b) the person or persons acting as the administrator of the company.
(3) Where a company entered administration as a result of appointment under section 443 of this Act, an appointment under subsection (1) shall be made by the—
(a) holder of the floating charge by virtue of which the appointment wasmade ; or
(b) Court on the application of the person or persons acting as the administrator of the company.
(4) Where a company entered administration by virtue of an appointment under section 447 of this Act, an appointment under subsection (1) shall be made either by the Court on the application of the person or persons acting as the administrator of the company or—
(a) by the company ; and
(b) with the consent of each person who is the holder of a floating charge in respect of the company’s property or, where consent is withheld,with the permission of the Court.
(5) Where a company entered administration by virtue of an appointment under section 452 (2) of this Act, an appointment under subsection (1) shall be made either by the Court on the application of the person or persons acting as the Administrator of the company or—
(a) by the directors of the company ; and
(b) with the consent of each person who is the holder of a floating charge in respect of the company’s property or, where consent is withheld,with the permission of the Court.
(6) An appointment under subsection (1) may be made only with the consent of the person or persons acting as the administrator of the company.
