Past version: effective from 14/06/2015 - 13/06/2015
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(1) The Court may examine the conduct of a person who —
(a) is or purports to be the administrator of a Company or of a Deed of Company Arrangement; or
(b) has been or has purported to be the administrator of a Company or of a Deed of Company Arrangement.
(2) An examination under this Section may be held only on the application of —
(a) the administrator of the Company or of a Deed of Company Arrangement;
(b) the liquidator of the Company;
(c) a creditor of the Company; or
(d) a contributory of the Company.
(3) An application under subsection (2) must allege that the administrator —
(a) has misapplied or retained money or other property of the Company;
(b) has become accountable for money or other property of the Company;
(c) has breached a fiduciary or other duty in relation to the Company; or
(d) has been guilty of misfeasance.
(4) On an examination under this Section into a person's conduct the Court may order him —
(a) to repay, restore or account for money or property;
(b) to pay interest; and/or
(c) to contribute a sum to the Company's property by way of compensation for breach of duty or misfeasance.
(5) In subsection (3) "administrator" includes a person who purports or has purported to be an administrator of a Company or of a Deed of Company Arrangement.
(6) An application under subsection (2) may be made in respect of an administrator who has been discharged under Section 142 (Vacation of office: discharge from liability) only with the permission of the Court.