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srilawsby aturio
As enacted
Contents

Part XII

330. Request by liquidator for cooperation

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

(1)

Paragraph (b) of subsection (2) shall not apply to a company for so long as section 302 applies to the company.

(2)

A liquidator may by written notice –

Rescue, Rehabilitation and Insolvency

(a)

subject to section 438, request a director or shareholder of the company or any other person to deliver to the liquidator such books, records or documents of the company in that person’s possession or custody or under that person’s control relating to the liquidation as the liquidator may determine; and

(b)

request –

(i)

a person who has taken part in the formation, promotion or management of the company;

(ii)

a past or present shareholder of the company;

(iii)

a past or present director or other officer of the company;

(iv)

a past or present receiver of property or appointee in respect of property of the company;

(v)

a person who is or has been an employee of the company;

(vi)

a person who is acting or has at any time acted as a lawyer for the company (but subject to legal advice privilege or litigation privilege);

(vii)

an accountant or auditor of the company; or

(viii)

another person having knowledge of the affairs of the company, to do such matters specified in subsection (3), if and to the extent reasonable.

(3)

The matters referred to in subsection (2) shall be to –

Rescue, Rehabilitation and Insolvency

(a)

to meet the liquidator at such time and place as the liquidator may request;

(b)

provide the liquidator with such information about the affairs, business, property or financial circumstances of the company as the liquidator may request;

(c)

be examined on oath by the liquidator on any matter relating to the affairs, business, property or financial circumstances of the company, under such evidentiary and other procedural rules as may be prescribed;

(d)

assist the liquidator in the liquidation to the best of the person’s ability.

(4)

The liquidator shall pay to a person referred to in paragraph (b) of subsection (2), not being an employee of the company, reasonable travel and other expenses that are incurred in complying with a request made under that subsection.

(5)

No suit, prosecution or any other legal or other proceeding (including a disciplinary proceeding by any professional body or authority having jurisdiction in respect of professional conduct) shall lie against any person in respect of disclosure in good faith of information under this section.

(6)

On the application of the liquidator, the court may order a person who has failed to comply with a request made under this section to –

(a)

comply with the request; or

(b)

attend before the court and be examined on oath, under such evidentiary and other procedural rules as may be prescribed,

Rescue, Rehabilitation and Insolvency where the court is satisfied that such compliance or examination, as the case may be –

(c)

is necessary to further the achievement of the objective referred to in section 296; and

(d)

would not be unreasonably oppressive to the person.

Read on from s 331

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