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Contents

Part IX

220. When administration ends

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

(1)

An administration ends on the day on which, and at the time at which –

(a)

an outcome meeting is not convened within the convening period, unless an application has been made under –

(i)

subsection (3) of section 213; or

(ii)

sub-paragraph (i) of paragraph (a) of subsection (2) of section 216;

(b)

an application has been made under subsection (3) of section 213, the convening period has expired after the application was made and the application is refused;

Rescue, Rehabilitation and Insolvency

(c)

an outcome meeting is convened but is not held within the period referred to in subsection (8) of section 213;

(d)

the creditors by resolution at an outcome meeting approve a proposed deed of company arrangement under paragraph (a) of subsection (2) of section 214;

(e)

the creditors by resolution at an outcome meeting appoint a liquidator under paragraph (b) of subsection (2) of section 214 or a liquidator is otherwise appointed;

(f)

the creditors by resolution at an outcome meeting end the administration under paragraph (c) of subsection (2) of section 214;

(g)

a deed of company arrangement is deemed under subsection (10) of section 216, to have been made by the company; or

(h)

the court ends the administration under section 263 or in the exercise of any other power the court may exercise.

(2)

Where an administration ends under paragraphs (a), (b), (c), (e) and (h) of subsection (1), the company’s status immediately prior to the administration, of being in liquidation or not being in liquidation, is restored.

CHAPTER 6

Deeds of Company Arrangement and

Deed Administrators

A - DEEDS OF COMPANY ARRANGEMENT

Part X

Compromises

Part XI

Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements

Part XII

Part XIII

Part XIV

Cross - Border Insolvency

Part XV

Part XVI

Part XVII

Schedules