Article 31 - General powers
Administrator of a Company:
(A) shall, to the extent required to carry out the purpose(s) of the administration, do all such things as may be necessary for the proper management of the affairs, business and property of the
(B) without prejudice to the generality of Article 31(1)(A), has the powers specified in Schedule 1, and any person who fails to comply with a summons or direction of the
Administrator referred to in that Schedule commits a contravention and is liable to a financial penalty.
Administrator also has power to remove any director of the Company and to appoint any person to be a director of it, whether to fill a vacancy or otherwise.
Administrator may apply to the QFC Court for directions in relation to any particular matter arising in connection with the carrying out of his functions.
(4) Any power conferred on the
Company or its officers, whether by these Regulations or the Companies Regulations or any other Regulations or by its articles of association, which could be exercised in such a way as to interfere with the exercise by the Administrator of his powers is not exercisable except with the consent of the Administrator, which may be given either generally or in relation to particular cases.
(5) In exercising his powers the
Administrator is deemed to act as the Company's agent.
Administrator shall have the power to disclaim any onerous property as defined in Article 92 and the provisions of that Article shall apply to this Article 31(6) subject to such modifications as the context requires.