Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act 2026 · As enacted · Part VIII
171. Bankruptcy off ences: Property
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
The bankrupt debtor commits an offence, if-
the bankrupt debtor does not deliver up possession to the Official Receiver or Bankruptcy Trustee, or as the Official Receiver or Trustee may direct, of such part of the property as is in such debtor’s possession or control and possession of which such debtor is required by law so to deliver up; or
the bankrupt debtor conceals any debt due to or from such debtor or conceals any property the value of which is not less than one hundred thousand rupees, or such sum as may be prescribed, and possession of which the bankrupt debtor is required to deliver up to the Official
Receiver or Bankruptcy Trustee.
The bankrupt debtor commits an offence if such debtor disposes of any property, other than in the normal course of business carried on by the bankrupt debtor or in the normal family affairs of the bankrupt debtor, the value of which was not less than one hundred thousand rupees or such sum as may be prescribed, and possession of which the bankrupt debtor has or would have been required to deliver up to the
Official Receiver or the Bankruptcy Trustee.
The bankrupt debtor commits an offence if —
with the intent to hinder, delay or defeat creditors;
and
bankrupt debtor, makes or causes to be made any gift or transfer of or any charge on, the bankrupt debtor’s property, other than in the normal course of business carried on by the bankrupt debtor or in the normal family affairs.
Part IX
Part X
Compromises
Part XI
Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements
Part XII
Part XIII
Part XIV