(1) The competent authority may apply to Court to -
(a) vary, or
(b) extend,
a temporary administration order where the competent authority is of the opinion that the variation or extension is necessary in all the circumstances.
(2) An application by the competent authority to vary a temporary administration order may be made ex parte.
(3) An application under paragraph (1)(b) may only be made where the competent authority has formed the opinion that the conditions laid down in this Chapter for the appointment of a temporary administrator continue to be met.
(4) The Court, when hearing an application under paragraph (1), shall, where satisfied that the opinion of the competent authority is reasonable and was not vitiated by any error of law, make an order varying or extending the temporary administration order.
(5) Where the Court makes an order under paragraph (4), the competent authority shall communicate the reasons for the extension or variation, as the case may be, to the sharehol
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