Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act 2026 · As enacted · Part XII
298. Appointment of liquidator
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
A company is put into liquidation by the appointment as liquidator of –
a named person; or
the Official Receiver.
A liquidator may be appointed by –
the company, by special resolution;
the board of the company, by resolution, on the occurrence of an event specified in the articles of the company;
the court on the application of –
the company;
one or more directors of the company;
a contributory of the company;
a creditor (including a contingent or prospective creditor) of the company;
if the company is in administration, the administrator;
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a receiver;
the Registrar; or
the Authority; or
a resolution of creditors passed at an outcome meeting under section 214.
The Official Receiver may not be appointed as liquidator except –
under paragraph (a) of subsection (2), where the special resolution is passed by reason of the Official Receiver exercising voting rights attaching to shares in the company of –
a person in respect of whom a Bankruptcy
Order has been made; or
another body corporate of which the Official
Receiver is liquidator; or
by the court.
The court may appoint a liquidator under paragraph (c) subsection (2) where the court is satisfied that –
taking into account section 303 the company is insolvent; or
it is just and equitable that the company be put into liquidation.
The court shall not entertain an application under paragraph (c) subsection (2) made by a contingent or prospective creditor unless –
such security for costs has been provided as necessary; and
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the court is satisfied that a prima facie case for liquidation has been established.
An appointment under paragraph (a) or (b) of subsection (2) shall be in writing.
Where a company is ordered to be put into liquidation under a power other than that contained in paragraph (c) of subsection (2), including under paragraph (d) of subsection (2) of section 97 and subsection (3) of section 177 of the
Companies Act, the appointment of the liquidator shall for all purposes be treated as having been made under paragraph (c) of subsection (2) on an application by the Registrar under paragraph (vii) of that subsection.
Part XIII
Part XIV