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srilawsby aturio
As enacted
Contents

Part IX

221. Content of a deed

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

(1)

The terms of a deed of company arrangement, including those required to be included in a statement by the administrator under sub-paragraph (i) of paragraph (d)

of subsection (7) of section 213 or sub-paragraph (i) of paragraph (d) of subsection (7) of section 215 shall include –

Rescue, Rehabilitation and Insolvency

(a)

the identity of the deed administrator;

(b)

the conditions, if any, for the deed to come into operation;

(c)

the functions, powers and duties of the deed administrator;

(d)

the functions and powers of the directors;

(e)

if and to what extent the company will be released from its debts and other liabilities;

(f)

all amendments to the terms of the company’s debts and other liabilities;

(g)

reporting to creditors by the deed administrator;

(h)

the terms under which the deed may be varied;

and

(i)

the circumstances in which the deed terminates.

(2)

A deed of company arrangement shall be deemed to include such terms as may be prescribed, except such prescribed terms as the deed expressly excludes.

Read on from s 222

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