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As enacted
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Part XII

361. Court supervision of liquidators and provisional liquidators and order regarding remuneration or appointment of liquidator

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

(1)

On the application of a person referred to in subsection (2), the court may –

(a)

confirm, reverse or modify an act or decision of a liquidator or provisional liquidator;

(b)

in respect of any period or activity for which the remuneration of a liquidator other than the Official Receiver has not been determined under Subsection (1) of section 353, fix such remuneration at a level that is reasonable in the circumstances; or

(c)

declare whether or not a liquidator was validly appointed.

(2)

Any of the following persons may make an application to the court under subsection (1) –

(a)

the liquidator or a person to be appointed as liquidator;

(b)

a provisional liquidator;

Rescue, Rehabilitation and Insolvency

(c)

an administrator or deed administrator;

(d)

a receiver;

(e)

a creditor;

(f)

a contributory;

(g)

any other person with an interest in the company;

(h)

with respect to paragraph (c) of subsection (1), the Registrar; or

(i)

the Authority.

(3)

The powers conferred under subsection (1) may be exercised whether or not the liquidator or provisional liquidator, as the case may be, has ceased to act as such when the application is made.

Read on from s 362

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