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Contents

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.

(1)

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.

(2)

Following an application under subsection (1), the

Authority –

(a)

shall follow such procedure as may be prescribed, including as to appeals; and

(b)

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.

(3)

The Authority may not renew the registration of a person as an Insolvency Practitioner unless it is satisfied that the person –

(a)

is a fit and proper person to be appointed and act as a key office holder; and

(b)

complies with the requirements for registration as an Insolvency Practitioner maintained under section 14; and

(c)

such other criteria as may be prescribed.

(4)

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

Cross - Border Insolvency

Part XV

Part XVI

Part XVII

Schedules