Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act 2026 · As enacted · Part I
16. Renewal of registration
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
An individual may apply to the Authority, in such manner and upon the payment of such renewal fee as may be prescribed, for renewal of the individual’s registration as an
Insolvency Practitioner.
Following an application under subsection (1), the
Authority –
shall follow such procedure as may be prescribed, including as to appeals; and
shall, in accordance with that procedure and subject to subsection (3), renew the registration of the person as an Insolvency Practitioner and issue a certificate of registration, in the manner prescribed.
The Authority may not renew the registration of a person as an Insolvency Practitioner unless it is satisfied that the person –
is a fit and proper person to be appointed and act as a key office holder; and
complies with the requirements for registration as an Insolvency Practitioner maintained under section 14; and
such other criteria as may be prescribed.
The Authority may renew the registration of a person as an Insolvency Practitioner for a fixed period of one year or for such other period as may be prescribed, subject to further renewal, cancellation or suspension of the registration under this Part.
Part II
Personal Insolvency: Principles
Part III
Debt Protection Moratorium Order
Part IV
Debt Restructuring Arrangements
Part V
Debt Rehabilitation Orders
Part VI
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