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As enacted
Contents

Part VI

101. General functions and off fi cial title of Bankruptcy Trustee

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

(1)

The “Bankruptcy Trustee” is the trustee in bankruptcy of the Bankruptcy Estate, and has the description, functions, duties, and powers specified in this section and in any other provisions of this Act.

(2)

This Chapter applies in relation to any Bankruptcy where either—

(a)

the appointment of a person as Bankruptcy

Trustee takes effect; or

(b)

the Official Receiver becomes the Bankruptcy

Trustee.

(3)

The function of the Bankruptcy Trustee is to get in, realise and distribute the Bankruptcy Estate in accordance with the following provisions of this Part. In the carrying out of that function and in the management of the Bankruptcy

Estate the Bankruptcy Trustee is entitled, subject to those provisions, to use ones own discretion.

(4)

It is the duty of the Bankruptcy Trustee, if such trustee is not the Official Receiver—

(a)

to furnish the Official Receiver with such information;

(b)

to produce to the Official Receiver, and permit inspection by the Official Receiver of, such books, papers and other records; and

Rescue, Rehabilitation and Insolvency

(c)

to give the Official Receiver such other assistance, as the Official Receiver may reasonably require for the purpose of enabling the Trustee to carry out the functions and duties in relation to the Bankruptcy.

(5)

The official name of a Bankruptcy Trustee shall be "the

Bankruptcy Trustee of the property of [inserting the name of the bankrupt debtor]", and by that name the Bankruptcy

Trustee may, in any part of Sri Lanka or elsewhere—

(a)

hold property of every description;

(b)

make contracts;

(c)

sue and be sued;

(d)

enter into any engagements binding oneself and any successors in office; and

(e)

do all such other acts necessary or expedient to be done in the execution of his office.

Read on from s 102

Part VII

Personal Insolvency Register

Read on from Part VII

Part VIII

Read on from Part VIII

Part IX

Read on from Part IX

Part X

Compromises

Read on from Part X

Part XI

Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements

Read on from Part XI

Part XII

Read on from Part XII

Part XIII

Read on from Part XIII

Part XIV

Cross - Border Insolvency

Read on from Part XIV

Part XV

Read on from Part XV

Part XVI

Read on from Part XVI

Part XVII

Read on from Part XVII

Schedules