(1) The judicial manager or any interested person may at any time apply to the court for the cancellation of an order made by the court under section 40(1).
(2) Where an application is made under subsection (1) the court may cancel the order if it appears to it that—
(a) the purpose of the order has been fulfilled; or
(b) it is undesirable for the order to remain in force.
(3) Upon the cancellation of an order, the judicial manager shall be divested of the management which shall thereupon vest in the board of directors or other governing body of the company.