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As enacted
Contents

Part XII · Winding Up

344. Powers and duties of liquidator in voluntary winding up

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The liquidator may—

(a)

in the case of a shareholders’ voluntary winding up with the sanction of a special resolution of the company, and in the case of a creditors’ voluntary winding up with the sanction of either the court or the committee of inspection or (if there is no such committee) a meeting of creditors, exercise any of the powers specified in the provisions of paragraphs (d), (e) and (f) of subsection (1) of section 292 in relation to a liquidator in a winding up by the court ;

(b)

without sanction exercise any power other than those referred to in paragraph (a), given by this Act to the liquidator in a winding up by the court ;

(c)

exercise the power of the court under the provisions of this Act of setting of list of contributories, and the list of contributories shall be prima facie evidence of the liability of the persons named therein to be contributories ;

(d)

exercise the power of the court of making calls ;

(e)

summon general meetings of the company for the purpose of obtaining the sanction of the company by special resolution or for any other purpose the liquidator may think fit.

(2)

The liquidator shall pay the debts of the company and shall adjust the rights of the contributories among themselves.

(3)

When several liquidators are appointed, any power given by this Act may be exercised by such one or more of them as may be determined at the time of their appointment, or in default of such determination, by any number not less than two.

Part XIII

Administrators Appointment of Administrator

Part XIV

Floating Charges

Part XV

Receivers and Managers

Part XVI

Registrar-General of Companies and Registration Appointment of Officers

Part XVII

Application of Act to Existing Companies

Part XVIII

Overseas Companies

Part XIX

Advisory Commission

Part XX

Companies Disputes Board

Part XXI

Offences Miscellaneous Offences

Part XXII

Miscellaneous Prohibition of Partnership with More Than Twenty Members

Part XXIII

Repeals and Amendments

Schedules