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srilawsby aturio
As enacted
Contents

Part IX

264. Order to enforce administrator’s or deed administrator’s duties

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

(1)

In this section, “failure to comply”, with respect to an administrator or deed administrator, means a failure (by act or omission) by the administrator or deed administrator, as the case may be, to comply with a duty arising –

(a)

under this Act or any other written law; or

(b)

under any order or direction of the court, except an order to comply made under this section, and “comply” shall have the corresponding meaning.

(2)

On the application of a person referred to in subsection (3), and where the court is satisfied that there is or has been a failure to comply, the court may –

(a)

without prejudice to any other right or remedy that may be available in relation to a breach of duty, order the administrator or deed administrator , as the case may be, to comply with the applicable duty so far as may be specified in the order; or

(b)

relieve the administrator or deed administrator , as the case may be, of the duty to comply with the applicable duty, wholly or in part.

(3)

Any of the following persons may make an application to the court under subsection (2) –

(a)

a receiver;

(b)

a creditor;

Rescue, Rehabilitation and Insolvency

(c)

any other person with an interest in the company;

(d)

a liquidator or provisional liquidator;

(e)

the Registrar; or

(f)

the Authority.

(4)

No application may be made under subsection (2)

unless notice of the failure to comply has been served on the administrator or deed administrator, as the case may be, at least ten working days before the application and there is a continuing failure to comply as at the date of the application.

(5)

A copy of every order made under paragraph (a) of subsection (2) shall, within five working days after the making of the order, be sent by the court to the Authority.

Read on from s 265

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