Section 610 of Insolvency Act CAP 53: Power of directors of company to appoint replacement administrator appointed under section 541(2)
(1) If the administrator of a company was appointed under section 541(2), the directors of the company may replace the administrator.
(2) A replacement under this section may be made only—
(a) with the consent of each person who is the holder of a qualifying floating charge in respect of the company's property; or
(b) if consent is withheld, with the approval of the Court.
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- Section 613 - Creditors' meeting may replace administrator appointed by company or directors
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- Section 619 - Power to appoint administrators to act concurrently
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- Section 623 - Certain specified period can be varied by consent
(1) A period specified in section 566(5) or 568(1) may be varied in respect of a company by the administrator with consent.
(2) In subsection (1), "consent" means—
(a) the consent of each secured...
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In this Division—
"prescribed publication", in relation to a company, means—
(a) a newspaper circulating in the area in which the company carries on business;
(b) the company's website (if any);...
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- Section 627 - Provisional supervisor to convene meetings of company and of its creditors
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- Section 628 - Conduct of meetings of company and its creditors
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(1) The following persons may make an application to the Court for an order under this section—
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- Section 632 - Offences involving false representations and fraudulent acts by company officers
(1) An officer of a company who—
(a) makes a false representation for the purpose of obtaining the approval of the members or creditors of a company to a proposal for a voluntary arrangement;...
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(1) When a proposal takes effect as a voluntary arrangement, the supervisor becomes responsible for implementing the arrangement in the interests of the company and its creditors and monitoring...
- Section 634 - Prosecution of delinquent officers of company
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(1) In this Part—
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(b) is not declared to be an ineligible company...
- Section 639 - Banking and insurance companies ineligible to obtain moratorium
The following companies are ineligible companies for the purposes of section 638:
(a) a company that holds a licence granted under section 5 of the Banking Act (Cap. 488) authorising it to carry on a...
- Section 640 - Companies under administration, etc., ineligible to obtain moratorium
(1) The following companies are also ineligible companies for the purpose of section 638—
(a) a company that is under administration;
(b) a company that is in liquidation;
(c) a company in respect...
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(1) A company is also an ineligible company for the purposes of section 638 if, on the lodgement date, it is a project company of a project that is a public-private partnership project and includes...
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(1) Deleted by Act No. 1 of 2021
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- Section 645 - Duration of moratorium
(1) A moratorium takes effect when the documents specified in section 644(1) are lodged with the Court.
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(ii) once in at least two newspapers circulating in the...
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(i) once in the Gazette;
(ii) once in at least two newspapers circulating in area in which the company...
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(i) only...
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(a) property of the company that is subject to a security; and
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(2) A company...
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- Section 659 - Withdrawal of monitor's consent to act
(1) Except with the approval of the Court, a provisional supervisor may withdraw consent to monitor a moratorium only if, during the moratorium—
(a) the monitor concludes that the company will not...
- Section 660 - Creditors and others may challenge monitor's conduct during moratorium by application made to the Court
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- Section 661 - Creditor may pursue claim against monitor for loss
(1) If there are reasonable grounds for believing that—
(a) as a result of any act, omission or decision of the monitor during the moratorium, the company has sustained loss; and
(b) the company...
- Section 662 - Replacement of monitor by the Court
(1) An application may be made to the Court for an order under subsection (2)—
(a) if the monitor has failed to comply with any duty imposed on that monitor under this Part or has died, by the...