Section 480 CAMA 2020

Section 480 Companies and Allied Matters Act is about Moratorium on other legal process. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(1) This section applies to a company in administration.

(2) Where a company is in administration, no step shall be taken to—

(a) enforce security over the company’s property except with—

(i) the consent of the administrator, or

(ii) the permission of the Court ; or

(b) repossess goods in the company’s possession under a hire purchase agreement except with the—

(i) consent of the administrator, or

(ii) permission of the Court.

(3) A landlord shall not exercise a right of forfeiture by peaceable re-entry in relation to premises let to the company except with the—

(a) consent of the administrator ; or

(b) permission of the Court.

(4) No legal process, including legal proceedings, execution, distress anddiligence shall be instituted or continued against the company or property ofthe company except with the—

(a) consent of the administrator ; or

(b) permission of the Court.

(5) Where the Court gives permission for a transaction under this section,it may impose a condition on or a requirement in connection with the transaction.

(6) In this section, “landlord” includes a person to whom rent is payable.