Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act 2026 · As enacted · Part XII
310. Meetings in liquidation of shareholders, creditors, contributories and committees
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 liquidator shall, at all times until the end of the liquidation –
where section 302 applies to the company, convene such meetings of shareholders as are requested by –
not less than five shareholders; or
a shareholder or shareholders representing not less than ten percent of the total voting rights of all shareholders, within five working days after receiving the request from the shareholder or shareholders;
convene such meetings of creditors as the liquidator sees fit;
convene such meetings of shareholders as the liquidator sees fit;
convene such meetings of contributories as the liquidator sees fit;
Rescue, Rehabilitation and Insolvency
convene such meetings of a liquidation creditors’
committee (if any) –
as the liquidator sees fit;
as that committee may reasonably request, within five working days after receiving the committee’s request; and
convene such meetings of a liquidation contributories’ committee (if any) –
as the liquidator sees fit;
as that committee may reasonably request, within five working days after receiving the committee’s request.
The Fifth Schedule shall apply to the meetings referred to in paragraphs (b) and (d) of subsection (1).
The requirements for notice and the conduct of business of meetings convened under paragraphs (e) and (f)
of subsection (1) shall be as may be prescribed.
A liquidator shall have regard to the views set out in a resolution passed at a meeting convened under this section.
The sole shareholder or sole contributory of a company may present to the liquidator a view on any matter that could have been decided at a meeting of shareholders or contributories, as the case may be, and that view shall for all purposes be treated as if it were set out in a resolution passed at a meeting of shareholders or contributories, as the case may be.
Part XIII
Part XIV