Section 505: Management of affairs of company.

(1) Subject to subsection (2), the administrator of a company shall manage its affairs, business and property in accordance with any—
(a) proposal approved under section 491;
(b) revision of those proposals which is made by him and which he does not consider substantial; and
(c) revision of those proposals approved under section 489.
(2) If the Court gives directions to the administrator of a company in connection with any aspect of his management of the company’s affairs, business or property, the administrator shall comply with the directions.
(3) The Court may give directions under subsection (2) only if—
(a) no proposal has been approved under section 492 of this Act;
(b) the directions are consistent with any proposal or revision approved under section 486 or 491 of this Act;
(c) the Court considers that the directions are required in order to reflect a change in circumstances since the approval of proposals or a revision under section 486 or 491 of this Act; or
(d) the Court considers that the directions are desirable because of a misunderstanding about proposals or a revision approved under section 486 or 491 of this Act.