Section 450

(1) An application to the Court for an administration order in respect of a company (in this Act referred to as an "administration application") may be made by-

(a) the company;

(b) the directors of the company;

(c) one or more creditors of the company;

(d) the designated officer of the Federal High Court appointed to act as a receiver under this Act or any other law; or

(e) a combination of the persons listed in paragraphs (a) - (d).

(2) As soon as is reasonably practicable after the making of an administration application, the applicant shall notify-

(a) any Court that has appointed a receiver and any person who has appointed a receiver of the company;

(b) a person who has, who is or who may be entitled to appoint a receiver of the company;

(c) a person who is or may be entitled to appoint an administrator of the company under section 452 of this Act; and

(d) such other persons as may be prescribed.

(3) An administration application shall not be withdrawn without the permission of the Court.

(4) In subsection (1), "creditor" includes a contingent creditor and a prospective creditor.