Section 545

(1) Where a provision of this Part provides that a period may be varied in Extension of Time Limit. accordance with this section, the period may be varied in respect of a company-

(a) by the Court; and

(b) on the application of the administrator.

(2) A time period may be extended in respect of a company under this section-

(a) more than once; and

(b) after expiry.