Section 513 CAMA 2020

Section 513 Companies and Allied Matters Act is about Automatic cessation of administration. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(1) Subject to subsection (2) the appointment of an administrator shall cease to have effect at the end of the period of one year beginning with the date on which it takes effect.

(2) The term of office of an administrator may be extended for—

(a) a specified period, by an order of the Court on the application of the administrator ; or

(b) a period not exceeding six months, by consent.