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Contents

Part XIII

376. Powers of receiver

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

(1)

A receiver shall have the powers and authorities expressly or impliedly conferred by the instrument or the order of the court by or under which the appointment was made.

(2)

Subject to the instrument or the order of the court by or under which the appointment was made, a receiver shall have and may exercise the powers specified in the Tenth

Schedule.

(3)

Subject to the instrument or the order of the court by or under which the appointment was made, a receiver may exercise the receiver’s powers and authorities to the exclusion of the powers of the company’s directors or those of the grantor.