Section 492

(1) This section applies where an administrator reports to the Court that-

(a) an initial creditors' meeting has failed to approve the administrator's proposals presented to it; or

(b) a creditors' meeting has failed to approve a revision of the administrator's proposals presented to it.

(2) The Court may-

(a) provide that the appointment of an administrator shall cease to have effect from a specified time;

(b) adjourn the hearing conditionally or unconditionally;

(c) make an interim order;

(d) make an order on a petition for winding-up suspended by virtue of section 462 (1) (b) of this Act ; or

(e) make any other order, including an order making consequential provision, that the Court deems appropriate.