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srilawsby aturio
As enacted
Contents

Part IX

186. Appointment of an Administrator by the board of the company

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

(1)

Subject to section 187, the board of a company may, by resolution, appoint an administrator where the board of the company has, by resolution, decided that –

(a)

in the opinion of the directors voting for the resolution, the company is or is likely to become insolvent; and

(b)

an administrator of the company should be appointed.

(2)

An appointment under subsection (1) shall be in writing.

(3)

Where the articles of the company vest the management of the company in the board of the company, in the case of conflict between the views of shareholders and those of the board on the matter referred to in paragraph (b) of subsection (1) or as to who should be appointed as administrator, the views of the board shall prevail.

Read on from s 187

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