Section 532 Companies and Allied Matters Act (CAMA) 2020

Section 532 CAMA 2020

Section 532 Companies and Allied Matters Act is about Replacement of administrator appointed by directors. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(1) An administrator appointed under section 459 (2) of this Act,may be replaced by the directors of the company.

(2) A replacement under this section may be made only—

(a) with the consent of each person who is the holder of a floating charge in respect of the company’s property ; or

(b) where consent is withheld, with the permission of the Court.

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Section 532 Companies and Allied Matters Act (CAMA) 2020

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