Section 517

(1) On the application of the administrator of a company, the Court may provide for the appointment of an administrator of the company to cease to have effect from a specified time.

(2) The administrator of a company shall make an application under this section if-

(a) he thinks the purpose of administration cannot be achieved in relation to the company;

(b) he thinks the company should not have entered administration; or

(c) a creditors' meeting requires him to make an application under this section.

(3) The administrator of a company shall make an application under this section if the -

(a) administration is pursuant to an administration order; and

(b) administrator thinks that the purpose of administration has been sufficiently achieved in relation to the company.

(4) On an application under this section the Court may-

(a) adjourn the hearing conditionally or unconditionally;

(b) dismiss the application;

(c) make an interim order; or

(d) make any order it considers appropriate, whether in addition to, in consequence of or in place of the order applied for.