Section 529 CAMA 2020

Section 529 Companies and Allied Matters Act is about Replacement of administrator appointed by Court order. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(1) Where the administrator was appointed by administration order,the Court may replace the administrator on an application under this subsectionmade by—

(a) a Creditors’ Committee of the company ;

(b) the company ;

(c) the directors of the company ;

(d) one or more creditors of the company ; or

(e) where more than one person was appointed to act jointly or concurrently as the administrator or any of those persons who remains in office.

(2) An application may be made in reliance on subsection (1) (b-d) only where—

(a) there is no Creditors’ Committee of the company ;

(b) the Court is satisfied that the Creditors’ Committee or a remaining administrator is not taking reasonable steps to make a replacement ; or

(c) the Court is satisfied that for another reason it is right for the application to be made.