Section 516

(1) Consent, for the purposes of section 513 (2) (b) of this Act, may be-

(a) written; or

(b) signified at a creditors' meeting.

(2) An administrator's term of office may be extended by consent only once, provided that it shall not be extended by consent after -

(a) expiry; and

(b) extension by order of the Court.

(3) Where an administrator's term of office is extended by consent, he shall, as soon as is reasonably practicable-

(a) file notice of the extension with the Court; and

(b) notify the Commission.

(4) An administrator who fails, without reasonable excuse, to comply with subsection

(3) commits an offence.