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srilawsby aturio
As enacted
Contents

Part VIII

170. Bankruptcy off ences: Non-disclosure and False Representations

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

(1)

The bankrupt debtor commits an offence, if-

(a)

the bankrupt debtor does not, to the best of his knowledge and belief, disclose all the property comprised in the Bankruptcy Estate to the Official

Receiver or the Bankruptcy Trustee; or

(b)

the bankrupt debtor does not inform the Official

Receiver or the Bankruptcy Trustee of any disposal of any property which but for the disposal would be so comprised, stating how, when, to whom and for what consideration the property was disposed of.

(2)

Paragraph (b) of subsection (1) shall not apply to any disposal in the normal course of business carried on by the bankrupt debtor or to any payment of the ordinary expenses of the bankrupt debtor or the debtor’s family.

(3)

The bankrupt debtor commits an offence if the said debtor makes a false representation for, or defrauds for, the purpose of obtaining the consent of creditors to any agreement with reference to the bankrupt debtor’s property or financial affairs.

Rescue, Rehabilitation and Insolvency

Read on from s 171

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