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Contents

Part II · Personal Insolvency: Principles

33. Statements of the debtor’s fi nancial aff airs

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

(1)

Subject to any additional details as may be prescribed, and unless otherwise required by a provision of this Act or an order of court, a statement of a debtor’s financial affairs for the purposes of Parts III, IV, V, VI, VIII and XI shall include -

(a)

a list of creditors;

(b)

a schedule containing particulars of the debtor’s property;

(c)

a schedule containg the debts and other liabilities of the debtor;

(d)

a schedule of current income and current expenditure;

(e)

a statement of the amount of monthly surplus income, itemised to show how the amount is calculated;

(f)

a statement disclosing any reasonably anticipated increase in income or expenditures over the twelve month period following the date of the making of an application, or preparation of a proposal, under a procedure under this Act;

(g)

any guarantee given by the debtor in respect of the debts of another person; and

(h)

the security, if any, held by each creditor in respect of its debt.

(2)

The statement of financial affairs shall be in the prescribed form, supported with an affidavit.

Rescue, Rehabilitation and Insolvency

(3)

Where a provision of this Act requires the preparation of a statement of a debtor’s affairs in relation to an application, petition, proposal, or procedure under Parts III,

IV, V, VI, VIII and XI such statement shall show the required details as at a date not earlier than ninety days before-

(a)

the making of the application, petition, or proposal; or

(b)

the commencement of the procedure.

Part III

Debt Protection Moratorium Order

Part IV

Debt Restructuring Arrangements

Part V

Debt Rehabilitation Orders

Part VI

Part VII

Personal Insolvency Register

Part VIII

Part IX

Part X

Compromises

Part XI

Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements

Part XII

Part XIII

Part XIV

Cross - Border Insolvency

Part XV

Part XVI

Part XVII

Schedules