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srilawsby aturio
As enacted
Contents

Part XII · Winding Up

365. Preferential claims

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

(1)

The liquidator shall pay out of the assets of the company the expenses, fees, and claims set out in the Ninth

Schedule to the extent and in the order of priority specified in that Schedule and that Schedule shall apply to the payment of those expenses, fees, and claims according to its tenor.

(2)

Without limiting paragraph 7(b) of the Ninth Schedule, the terms “assets” in subsection (1) shall not include assets subject to a charge, unless—

(a)

the charge is surrendered or taken to be surrendered or redeemed under section 358; or

(b)

the charge was when created, a floating charge in respect of those assets.

Read on from s 366

Part XIII

Administrators Appointment of Administrator

Read on from Part XIII

Part XIV

Floating Charges

Read on from Part XIV

Part XV

Receivers and Managers

Read on from Part XV

Part XVI

Registrar-General of Companies and Registration Appointment of Officers

Read on from Part XVI

Part XVII

Application of Act to Existing Companies

Read on from Part XVII

Part XVIII

Overseas Companies

Read on from Part XVIII

Part XIX

Advisory Commission

Read on from Part XIX

Part XX

Companies Disputes Board

Read on from Part XX

Part XXI

Offences Miscellaneous Offences

Read on from Part XXI

Part XXII

Miscellaneous Prohibition of Partnership with More Than Twenty Members

Read on from Part XXII

Part XXIII

Repeals and Amendments

Read on from Part XXIII

Schedules