Companies Act 2007 · As enacted · Part XV · Receivers and Managers
466. Court supervision of receivers
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
The court may on the application of a receiver —
give directions in relation to any matter arising in connection with the performance of the functions of the receiver ;
revoke or vary, any such directions.
The court may, on the application of any of the persons referred to in subsection (3) —
in respect of any period, review or fix the remuneration of a receiver at a level which is reasonable in the circumstances ;
to the extent that an amount retained by a receiver as remuneration is found by the court to be unreasonable in the circumstances, order the receiver to refund the amount ;
declare whether or not a receiver was validly appointed in respect of any property or validly entered into possession or assumed control of any property.
Any of the following person may make an application to the court under subsection (2) :—
the receiver ;
the grantor ;
a creditor of the grantor ;
a person claiming through the grantor an interest in the property in receivership ;
a liquidator.
The powers conferred under subsections (1) and (2)
shall be —
in addition to any other powers the court may exercise under this Act, any other enactment or in exercising its inherent jurisdiction ; and
exercised whether or not the receiver has ceased to act as receiver, when the application is made.
The court may, on the application of a person referred to in subsection (3), revoke or vary an order made under subsection (2).
Subject to the provisions of subsection (7), it would be a defence to a claim against a receiver in relation to any act or omission by the receiver, that such act or omission was done or omitted to be done in compliance with a direction given under subsection (1).
The court may on the application of a person referred to in subsection (3), order that by reason of the circumstances in which a direction was obtained under subsection (1), a receiver is not entitled to the protection given by subsection (6).
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