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srilawsby aturio
As enacted
Contents

Part IX

181. Who may be appointed and act as administrator

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

(1)

A person may be appointed or act as the administrator of a company only if the person –

(a)

is qualified under section 12 to be appointed and act as a key office holder with respect to the administration;

(b)

is not disqualified under section 182 from being appointed or acting as an administrator;

(c)

has certified in writing that the person –

Rescue, Rehabilitation and Insolvency

(i)

is qualified under section 12 to be appointed and to act as a key office holder with respect to the administration; and

(ii)

is not disqualified under section 182 from being appointed or acting as an administrator;

and

(d)

has consented in writing to the appointment and has not withdrawn such consent at the time of appointment.

(2)

A person who, with the person’s consent, is appointed or acts as administrator of a company knowing that any of the requirements of paragraphs (a), (b) and (c) of subsection (1) have not been met, commits an offence.

Read on from s 182

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