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Contents

Part VI

123. Protection of Offi cial Receiver and Trustee from liability in certain cases

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

(1)

This section applies where –

(a)

the Bankruptcy Trustee has seized or disposed of any property in the possession or on the premises of a bankrupt debtor; and

(b)

the Bankruptcy Trustee had no notice of any claim by any person in respect of the property.

Rescue, Rehabilitation and Insolvency

(2)

No suit, prosecution or other legal proceeding shall lie against –

(a)

the Bankruptcy Trustee for any loss or damage arising from such seizure or disposal sustained by any person claiming such property; and

(b)

the Bankruptcy Trustee shall not be liable for the costs of any proceedings taken to establish a claim in respect of such property, where the Bankruptcy Trustee has seized or disposed of property in good faith in the circumstances specified in subsection (1), and the Bankruptcy Trustee subsequently gives notice that the said property was not, at the date of the commencement of the Bankruptcy, the property of the bankrupt debtor.

Part VII

Personal Insolvency Register

Part VIII

Part IX

Part X

Compromises

Part XI

Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements

Part XII

Part XIII

Part XIV

Cross - Border Insolvency

Part XV

Part XVI

Part XVII

Schedules