Section 532 CAMA 2020

Section 532 Companies and Allied Matters Act is about Replacement of administrator appointed by directors. It is under Chapter 18 (Administration of companies: nature of administration) of the Act.

(1) An administrator appointed under section 459 (2) of this Act,may be replaced by the directors of the company.

(2) A replacement under this section may be made only—

(a) with the consent of each person who is the holder of a floating charge in respect of the company’s property ; or

(b) where consent is withheld, with the permission of the Court.