As enacted

Contents

Companies Act 2007 · As enacted · Part XIII · Administrators Appointment of Administrator

418. General duties of administrator

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

(1)

The administrator on his appointment shall take into his custody or control, all the property to which the company is or appears to be entitled.

(2)

The administrator shall manage the affairs, business and property of the company—

(a)

at any time before a proposal has been approved under section 407 in accordance with any directions of the court; and

(b)

at any time after a proposal has been so approved, in accordance with the proposal as from time to time revised and with any directions of the court.

(3)

The administrator shall summon a meeting of the creditors of the company if—

(a)

he is requested to do so in writing by one tenth in value of the creditors; or

(b)

he is directed to do so by the court.

Read on from s 419

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