Section 496: General powers.

(1) The administrator of a company may do anything necessary or expedient for the management of the affairs, business and property of the company.
(2) Any provision of this Chapter which expressly permits the administrator to do a specified thing is without prejudice to subsection (1).
(3) A person who deals with the administrator of a company in good faith and for value need not inquire whether the administrator is acting within his powers.