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Contents

Part XII

315. Notice of liquidator’s appointment and details

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

(1)

A liquidator shall –

(a)

before the close of the next working day after appointment, give written notice of the appointment to the Registrar and Authority;

(b)

within two working days after appointment give public notice of the liquidator’s appointment, including –

(i)

the liquidator’s full name;

(ii)

the date of the appointment;

(iii)

the identity of the appointer of the liquidator and, where the appointer was the court, the identity of the person on whose application the appointment was made;

Rescue, Rehabilitation and Insolvency

(iv)

the liquidator’s office address and contact number to which, during normal working hours, inquiries may be directed; and

(v)

a statement to the effect that requests may be made in the prescribed manner for the establishment of committees of creditors and contributories to consult with and consider reports from the liquidator; and

(c)

send a copy of the public notice –

(i)

to each known creditor and contributory;

and

(ii)

to the Registrar and Authority; and

(d)

within twenty working days after appointment –

(i)

prepare a report about the affairs, business, property and financial circumstances of the company;

(ii)

in such manner as may be prescribed, send to each known creditor and contributory the report referred to in paragraph (i); and

(iii)

send a copy of the report to the Registrar and Authority.

(2)

Where the appointment of a liquidator is in addition to a liquidator who already holds a key office or is in place of a person who has vacated office as liquidator, each notice under subsection (1) shall state that fact.

(3)

In the event of any change in a liquidator’s office address or contact number, the liquidator shall within two working days –

(a)

give public notice of the new address or contact number, as the case may be; and

Rescue, Rehabilitation and Insolvency

(b)

send a copy of the public notice to the Registrar and Authority.

(4)

A failure to comply with this section shall not affect the validity of a person’s appointment as liquidator.

(5)

A liquidator who fails to comply with this section commits an offence.