17 PART IV FUNCTIONS OF ADMINISTRATOR IN RECONSTRUCTION 18 General powers of administrator in relation to company under reconstruction (1) The administrator in reconstruction shall have the following powers, which he or she may exercise without the authority of the directors or shareholders of the company under reconstruction— (a) to carry on or discontinue any part of the business of the company in so far as may be necessary for the reconstruction thereof; (b) to operate every account with a financial institution operated by the company immediately before the commencement of its reconstruction; (c) to draw, accept, make and endorse any cheque, bill of exchange or promissory note in the name and on behalf of the company, and, for the purpose of carrying on the business of the company in terms of paragraph (a), to impose any additional liability upon the company; (d) to raise money in any way; (e) to bring or defend in the name and on behalf of the company any action or other legal proceeding of a civil nature and, subject to any law relating to criminal procedure, any criminal proceeding: (f) to agree to any offer of composition made to the company by any debtor or contributory and take any reasonable part of the debt in discharge of the whole or give reasonable time; (g) to compromise or admit any claim or demand against the company, including an unliquidated claim; (h) to execute in the name and on behalf of the company all deeds, receipts and other documents and for that purpose to use the company’s seal; (i) to prove a claim in the estate of any contributory or debtor and receive payment in full or a dividend in respect thereof; (j) to submit to the determination of arbitrators any dispute concerning the company or any claim or demand by or upon the company; (k) to elect to adopt or to abandon any contract entered into by the company before the commencement of the reconstruction to buy or receive in exchange any immovable property, transfer of which has not been effected in favour of the company: Provided that— (i) if the administrator does not make an election within six weeks after being required in writing to do so, the person entitled under the contract may apply by motion to the court for cancellation of the contract and delivery of possession of the immovable property and the court may make such order as it thinks fit; (ii) nothing in this paragraph contained shall affect any concurrent claim against the company for damages for non-fulfilment of the contract;