Section 239X — Companies Act 1993: Effect on directors

239X Effect on directors (1) The appointment of an administrator does not remove the directors of the company from office. (2) However, a director of a company that is in administration must not exercise or perform, or purport to exercise or perform, a function or power as a director of the company except— (a) with the prior, written approval of the administrator; or (b) as expressly permitted by this Part. Compare: Corporations Act 2001 (Australia) s 437C Section 239X: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).