The Company needs the consent of the administrator
- to pay debts incurred prior to the reorganisation decision by the court,
- to provide security for such debts,
- to incur new obligations and
- to transfer, pledge or grant any rights in property of material significance to the company’s business.
If the company fails to obtain the administrator’s consent this does not affect the validity of the company’s action.
It should be noted that the administrator may give his consent only where special cause exists.