Cap. 583 Art. 46Appointment of administrator.           Cap. 386.

(1) Without prejudice to the powers conferred to the

Authority by or under this Act, the Authority may, in exceptional circumstances where it is reasonably satisfied that this would be preferable to any other action, proceed to take any one or more of the following measures:

(a) nominate an administrator to take charge of the assets of the authorised person, or any portion of them, for the purposes of safeguarding player funds, the interests of players, and the interests of the employees of the authorised person;

(b) nominate an administrator to assume control of the business of the authorised person, either to carry on that business or to carry out such other function or functions in respect of such business, or part thereof, as the Authority may direct, and by application seek the appointment of such administrator by the Civil Court (Voluntary Jurisdiction Section), with such remuneration as the Court may deem fit:

Provided that, where the assets of the authorised person are insufficient to satisfy its liabilities, the remuneration due to the administrator and any lawful expenses and disbursements incurred by the administrator in the performance of his functions shall be paid in the same order of priority as expenses and other disbursements incurred by a liquidator, and the remuneration due thereto, in an insolvent winding up in accordance with article 258 of the

Companies Act.

(2) Where an administrator is so appointed -

(a) under sub-article (1)(a), it shall be the duty of the authorised person to deliver to such appointed administrator all the assets, whether movable or immovable, of which he is placed in charge, and all the powers, functions and duties of the authorised person in respect of those assets, including those exercisable by the authorised person in a general meeting, or by the directors, or by any other person, including the legal and judicial representation of the authorised person, shall be exercisable by and vest in the administrator appointed under the said sub-article to the exclusion of any other person;

(b) under sub-article (1)(b), the authorised person shall submit its business to the control of such appointed administrator and shall provide such person with such facilities as may be required to carry on that business or to carry out the functions assigned to such person under the said paragraph; and all the powers, functions and duties of the authorised person, including the legal and judicial representation of the authorised person, shall be exercisable by and vest in the administrator appointed under the said sub-article to the exclusion of any other person.

(3) The Authority may, where it feels it is in the best interest of the players or the general public so to do, make or issue public statements or notices giving warnings or information about any measure taken in terms of this article.

(4) The Authority may require the authorised person concerned to pay all the expenses of, and incidental to, the publication or issue of public statements or notices pursuant to this article, or such part thereof as it may deem appropriate; and any sum so due shall be recoverable by the Authority as a civil debt.

(5) The administrator holds office -

(a) for the duration established by the Court; or

(b) in the absence of an established period of duration, until such time as the Court, or the Authority, deems necessary, unless before such time he resigns by means of a note filed before the Court and notified to the Authority.

(6) The Authority may, by means of a binding instrument, specify in further detail the responsibilities of an administrator appointed in accordance with this Part, the procedures to be followed in connection with such appointment, and other ancillary matters.