Section 535 CAMA 2020

Section 535 Companies and Allied Matters Act is about Substitution of administrator appointed by company or directors by creditors’ meeting. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(1) This section applies where—

(a) an administrator of a company is appointed by a company or directors under section 459 of this Act ; and

(b) there is no holder of a floating charge in respect of the company’s property.

(2) A creditors’ meeting may replace the administrator.

(3) A creditors’ meeting may act under subsection (2) only if the new administrator’s written consent to act is presented to the meeting before the replacement is made.