208. Eff ect of administration when dealing with property

Subject to section 202, an agreement, transaction or dealing by a company in administration, or by a person on behalf of the company, that affects property of the company is void unless the agreement, transaction or dealing was entered into –

The administrator may give consent under paragraph (b) of subsection (1) where it is satisfied that the agreement, transaction or dealing is in the interests of the creditors as a whole.

The administrator is not liable in damages for declining to give consent under paragraph (b) of subsection (1).

The court may by order give effect to an agreement, transaction or dealing that is void under subsection (1).

Subsection (1) shall not apply to a payment, made by a bank, that is –

A director or other officer of the company who –

The court may order a director or other officer who is convicted of an offence under subsection (6) to compensate any person, including the company, that has suffered loss as a result of the act or omission constituting the offence.

If any question arises as to whether, on the date on which an administrator was appointed, an agreement, transaction or dealing that affects property of the company was entered into before or after the time at which the administrator was appointed, that agreement, transaction or dealing shall be presumed, unless the contrary is proved, to have been entered into after that time.

Notwithstanding any other enactment, no person may, as against the administrator, claim a lien over a book, record or document of the company.