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srilawsby aturio
As enacted
Contents

Part XII

307. Replacement liquidator

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

(1)

Where a resolution that a liquidator should be replaced is passed under paragraph (b) of Subsection (2) of section 306 the liquidator shall forthwith make an application to court for the appointment of a replacement liquidator.

(2)

On an application under this section, the court may make an order –

(a)

either –

(i)

appointing a suitable replacement liquidator;

or

(ii)

specifying a process for the appointment of a suitable replacement liquidator; and

(b)

removing the liquidator upon appointment of the replacement liquidator.

(3)

A replacement liquidator shall, within five working days after appointment, send to each known creditor an interests statement, signed by the liquidator, that complies with section 30.

Read on from s 308

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