110. Automatic end of administration

(1) The appointment of an administrator of a Company shall cease to have effect at the end of the period of one year beginning with the date on which it takes effect.
(2) But —
(a) on the application of an administrator of a Company the Court may by order extend his term of office for a specified period; and
(b) the term of office of an administrator of a Company may be extended for a specified period not exceeding twelve (12) months by consent.
(3) An order of the Court under this Section —
(a) may be made in respect of an administrator of a Company whose term of office has already been extended by order or by consent; but
(b) may not be made after the expiry of his term of office.
(4) Where an order is made under this Section the administrator of a Company shall as soon as is reasonably practicable notify the Registrar.
(5) An administrator of a Company who fails without reasonable excuse to comply with subsection (4) commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule.
(6) In subsection (2)(b) "consent" means consent of —
(a) each secured creditor of the Company; and
(b) if the Company has unsecured debts, creditors whose debts amount to more than 50% of the Company's unsecured debts, disregarding debts of any creditor who does not respond to an invitation to give or withhold consent.
(7) But where the administrator of a Company has made a statement under Section 61(6)(b) (Requirement for initial creditors' meeting) "consent" means —
(a) consent of each secured creditor of the Company; or
(b) if the administrator of a Company thinks that a distribution may be made to preferential creditors, consent of —
(i) each secured creditor of the Company; and
(ii) preferential creditors whose debts amount to more than 50% of the preferential debts of the Company, disregarding debts of any creditor who does not respond to an invitation to give or withhold consent.
(8) Consent for the purposes of subsection (2)(b) may be —
(a) written; or
(b) signified at a creditors' meeting.
(9) The term of office of an administrator of a Company —
(a) may be extended by consent only once;
(b) may not be extended by consent after extension by order of the Court; and
(c) may not be extended by consent after expiry.
(10) Where the term of office of an administrator of a Company is extended by consent he shall as soon as is reasonably practicable —
(a) file notice of the extension with the Court; and
(b) notify the Registrar.
(11) An administrator of a Company who fails without reasonable excuse to comply with subsection (10) commits a contravention and is liable to a fine at the relevant level set out in the Fines Schedule.
(12) Notwithstanding the other provisions of this Section, the appointment of an administrator of a Company which is in administration shall cease to have effect when a Deed of Company Arrangement is executed by both the Company and the administrator of the Deed of Company Arrangement.