Commentary on Sections Postal administration orders Section 72: Postal administrators
312.This section sets out the status of a postal administrator of a company and how that administrator should exercise his or her powers.
313.Subsection (1) states that a postal administrator is an officer of the court, and in exercising and performing powers and duties in relation to the company, is the company’s agent.
314.Subsection (2) provides that the postal administrator is under a duty to perform their functions as quickly and as efficiently as is reasonably practicable.
315.Subsection (3) states that the postal administrator of a company must exercise and perform powers and duties in the way which, so far as it is consistent with the objective of the postal administration to do so, best protects:
316.Subsection (4) clarifies that the postal administrator has to be qualified to act as an insolvency practitioner in relation to the company.
317.Subsection (5) deals with a situation where the court appoints two or more persons as the postal administrator of a company.