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srilawsby aturio
As enacted
Contents

Part XII

345. Duty of liquidator to report misfeasance

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

(1)

Where a liquidator believes, or has reasonable grounds to believe, that an involved party has misapplied or retained or become liable or accountable for money or other property of the company, or been guilty of negligence,

Rescue, Rehabilitation and Insolvency default or breach of duty or trust in relation to the company, the liquidator shall as soon as practicable report the matter to the Registrar and Authority.

(2)

In any case where a liquidator makes a report under subsection (1), the liquidator shall give to the Registrar and

Authority such assistance as the Registrar or Authority, as the case may be, may reasonably request by way of –

(a)

provision of information;

(b)

access to documents; and

(c)

facilities for inspecting and copying documents.

(3)

A liquidator who fails to comply with subsection (1) or subsection (2) commits an offence.

Read on from s 346

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