§ 71 After Clause 18, insert the following new clause:
- 'General powers
.—(1) The administrator of a company—
- (a) may do all such things as may be necessary for the management of the affairs, business and property of the company; and
1192 - (b) without prejudice to the generality of paragraph (a) above, shall have the powers specified in Schedule 2 to this Act; and in the application of that Schedule to the administrator of a company the words "he" and "him" shall be taken to refer to the administrator.
(2) The administrator of a company shall also have power—
- (a) to remove any director of the company and to appoint any person to be a director of the company, whether to fill any vacancy or otherwise; and
- (b) to call any meeting of the members or creditors of the company.
(3) Any power conferred on the company or its officers, whether by this Part or the 1985 Act or by the memorandum or articles of association, which could be exercised in such a way as to interfere with the exercise by the administrator of his powers shall not be exercisable except with the consent of the administrator, which may be given either generally or in relation to particular cases.
(4) In exercising his powers the administrator of a company shall be deemed to be acting as agent of the company.
(5) A person dealing with the administrator of a company in good faith and for value shall not be concerned to inquire whether the administrator is acting within his power.'