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Contents

Part IX

262. Order regarding remuneration or appointment of administrator or deed administrator

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

(1)

On the application of a person referred to in subsection (2), the court may –

(a)

in respect of any period or activity for which the remuneration of an administrator or deed administrator has not been determined under subsection (1) or (2), as the case may be, of section 246, fix such remuneration at a level that is reasonable in the circumstances;

(b)

declare whether or not an administrator or deed administrator was validly appointed.

(2)

Any of the following persons may make an application to the court under subsection (1) –

(a)

the administrator or a person to be appointed as administrator;

(b)

the deed administrator or a person to be appointed as deed administrator;

(c)

a liquidator or provisional liquidator;

(d)

a receiver;

(e)

a creditor;

(f)

any other person with an interest in the company;

(g)

with respect to paragraph (b) of subsection (1), the Registrar; or

(h)

the Authority.

(3)

The powers conferred under subsection (1) may be exercised whether or not the administrator or deed administrator has ceased to act as such when the application is made.

Rescue, Rehabilitation and Insolvency

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