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Companies Act, 1973 (Act No. 61 of 1973)

Chapter XV: Judicial Management

440. Cancellation of judicial management order

 

 

1) If at any time on application by the judicial manager or any person having an interest in the company it appears to the Court which granted a judicial management order that the purpose of such order has been fulfilled or that for any reason it is undesirable that such order should remain in force, the Court may cancel such order and thereupon the judicial manager shall be divested of his functions.

 

2) In cancelling any such order the Court shall give such directions as may be necessary for the resumption of the management and control of the company by the officers thereof, including directions for the convening of a general meeting of members for the purpose of electing directors of the company.