116 Officers and employees of the company

Entry into administration does not terminate the offices held by the directors and other officers, or contracts of employment of the employees of the company. However, the administrator is entitled to remove a director and appoint any person to be a director1, and a company in administration is precluded from exercising any management power (defined to mean a power which could be exercised so as to interfere with the exercise of the administrator’s powers) without the consent of the administrator2. For a period of 14 days after the commencement

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