Section 20: Administration order
consolidated text (as at 2013, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
20. Administration order
(1) Subject to this section, where, in relation to a protected cell company, the Court is satisfied that—
(a) the cellular assets attributed to a particular cell, when account is
taken of the company’s non-cellular assets, unless there are no
creditors in respect of that cell entitled to have recourse to the
company’s non-cellular assets, are, or are likely to be, insufficient
to discharge the claims of creditors in respect of that cell; or
(b) the company’s cellular assets and non-cellular assets are, or are
likely to be, insufficient to discharge the liabilities of the
company,
and the Court considers that the making of an order under this section may
achieve one of the purposes set out in subsection (3), the Court may make
an administration order in respect of that company or in respect of one or
more cells.
(2) An administration order shall direct that, during the period for which
the order is in force, the business and assets of or attributable to the cell or,
as the case may be, the business and assets of the company, shall be managed by an administrator appointed by the Court for that purpose.
(3) The purposes for which an administration order may be made are—
(a) the survival as a going concern of the cell or of the company, as
the case may be;
(b) the more advantageous realisation of the business and assets of
or attributable to, the cell or, as the case may be, the business
and assets of the company than would be achieved by a receivership of the cell or, as the case may be, by the liquidation of
the company.
(4) An administration order—
(a) may not be made where—
(i) a liquidator has been appointed to act in respect of the
company; or
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Revised Laws of Mauritius
(ii) the company has passed a resolution for voluntary winding
up;
(b) shall cease to be of effect upon the appointment of a liquidator
to act in respect of the company, but without prejudice to prior
acts.
(6) (a) No resolution for the voluntary winding up of a protected cell
company which, or any cell of which, is subject to an administration order,
shall be effective without the leave of the Court.
(b) The Court, on hearing an application for leave, may make an interim order or adjourn the hearing.