Section 222: Administrator’s role

222. Administrator’s role (1) While a company is in administration, the administrator— (a) has control of the company’s business property and affairs; (b) is required to investigate the company’s affairs and consider possible ways of salvaging the company’s business in the interests of creditors, employees and shareholders; (c) may carry on that business and manage that property and those affairs with the objective of salvaging the company’s business in the interests of creditors, employees and shareholders; (d) may terminate or dispose of all or part of that business and may dispose of any of that property; and (e) may perform any function, and exercise any power, that the company or any of its officers could perform or exercise if the company were not in administration. (2) (a) In this subsection, “administrator” includes a deed administrator. (b) Every administrator shall file an account with the Registrar of Companies with a copy to the Director for each of the following periods— (i) the period of 6 months (or shorter, as the administrator decides) after the day on which the administrator was appointed; [Issue 3] I14 – 130 Revised Laws of Mauritius (ii) each subsequent period of 6 months during which the administrator holds office; and (iii) the period between the last period of the kind referred to in subsection (2) (b) (ii) and the day on which the administrator vacates office. (c) The administrator shall file the account within 28 days after the end of the period in question. (d) The account shall be in the prescribed form and must show— (i) for each period, the administrator’s receipts and payments; and (ii) for each period except the first, the aggregate of the administrator’s receipts and payments since the day on which the administrator was appointed. (3) A payment made, transaction entered into, or any other act or thing done, in good faith, by or with the consent of the administrator of a company in administration— (a) is valid and effectual for the purpose of this Act; and (b) if the company is placed in liquidation, must not be set aside in the liquidation.