438. Extent of power to appoint a receiver

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

(1)

A power conferred by an instrument to appoint a receiver includes the power to appoint—

(a)

two or more receivers;

(b)

a receiver additional to one or more presently in office;

(c)

a receiver to succeed a receiver whose office has become vacant, unless the instrument expressly provides otherwise.

(2)

Two or more receivers may act jointly or severally to the extent that they have the same powers, unless the instrument under which or the order of the court by which they are appointed, expressly provides otherwise.

Read on from s 439

Part XVI

Registrar-General of Companies and Registration Appointment of Officers

Read on from Part XVI

Part XVII

Application of Act to Existing Companies

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Part XVIII

Overseas Companies

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Part XIX

Advisory Commission

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Part XX

Companies Disputes Board

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Part XXI

Offences Miscellaneous Offences

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Part XXII

Miscellaneous Prohibition of Partnership with More Than Twenty Members

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Part XXIII

Repeals and Amendments

Read on from Part XXIII