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srilawsby aturio
As enacted
Contents

Part XIII

370. Who may be appointed and act as receiver

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

(1)

A person may be appointed or act as receiver of property of a company only if the person –

(a)

is qualified under section 12 to be appointed and act as a key office holder with respect to the receivership;

(b)

is not disqualified under section 371 from being appointed or acting as a receiver;

(c)

has certified in writing that the person –

Rescue, Rehabilitation and Insolvency

(i)

is qualified under section 12 to be appointed and act as a key office holder with respect to the receivership; and

(ii)

is not disqualified under section 371 from being appointed or acting as a receiver; and

(d)

has consented in writing to the appointment and has not withdrawn the consent at the time of appointment.

(2)

A person who, with the person’s consent, is appointed or acts as receiver of property of a company knowing that any of the requirements of paragraphs (a), (b) and (c) of subsection (1) has not been met, commits an offence.

Read on from s 371

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