Section 595 of Insolvency Act CAP 53: Court may terminate administration on application of administrator
(1) The administrator of a company shall make an application to the Court for an order terminating the administrator's appointment—
(a) on forming the belief that—
(i) the objective of the administration cannot be achieved in relation to the company; or
(ii) the company should not have entered administration; or
(b) if a creditors' meeting requires the administrator to make such an application.
(2) An administrator shall also make such an application if—
(a) the administration results from an administration order; and
(b) the administrator believes that the purpose of administration has been sufficiently achieved in relation to the company.
(3) On the hearing of an application made under this section, the Court may make—
(a) an order terminating the administrator's appointment with immediate effect or from a specified later date;
(b) an order dismissing the application; or (c) an interim order.
(4) If the Court makes an order under subsection (3), it may also make— (a) an order adjourning the hearing conditionally or unconditionally; and (b) such ancillary or supplementary order as it considers appropriate.
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