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srilawsby aturio
As enacted
Contents

Part IX

202. Power exercised before commencement of administration

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

(1)

Where, before the commencement of an administration, and by way of enforcement of –

(a)

an encumbrance over property; or

(b)

a right of the owner or lessor of property, including under a hire-purchase agreement, to take possession of the property or otherwise recover it,

Rescue, Rehabilitation and Insolvency a receiver, appointee or other person who entered into possession or custody or assumed control of or exercised any other power in relation to, property of the company or of a third party nothing in sections 196, 197, 199 and 208

shall prevent the receiver, appointee or other person from performing or exercising a function or power in relation to the property.

(2)

Subsection (1) of section 208 shall not apply to an agreement, transaction or dealing that affects the property referred to in subsection (1) that is entered into in the performance or exercise of a function or power of the receiver, appointee or other person referred to in subsection (1).

Read on from s 203

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