(1) Subject to the provisions of that section, the protection granted by virtue of section 520 to a company shall cease -
(a) on the coming into effect of a compromise or scheme of arrangement under this Part in relation to the company; or
(b) on such earlier date as the court may direct.
(1A) Where the court is making an order in accordance with subsection (1)(b), it may take into account:
(a) that the protection granted by virtue of section 520 no longer fulfils the objective of supporting the negotiations on a scheme of arrangement;
(b) where the company or the examiner has requested that the protection granted by virtue of section 520 be ceased;
(c) one or more creditors or one or more classes of creditors are, or would be, unfairly prejudiced by the continuation of the protection granted by virtue of section 520;
(d) that the continuation of the protection granted by virtue of section 520 would likely give rise to the insolvency of a creditor of the company.
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