The directors ofMaendeleo ltd have recently appointed an administrator to help rescue the company from its financial difficulties. The directors are aware that a consequence of administration is that jthe powers of the board are suspended and the administrator assumes the day to day management of the company. However, the directors are unsure whether they are legally required to make any parties aware of the appointment.

Required:

a)Explain the legal requirements regarding announcement and notification of the appointment

b)Explain the time limit for undertaking the above requirements