Section 501

(1) A company in administration or an officer of a company in administration shall not exercise a management power without the consent of the administrator.

(2) For the purpose of subsection (1) -

(a) "management power" means a power which could be exercised so as to interfere with the exercise of the administrator's powers;

(b) it is immaterial whether the power is conferred by an enactment or an instrument; and

(c) consent may be general or specific.