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Contents

Part III · Debt Protection Moratorium Order

38. Debt Protection Application

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

(1)

Subject to this Part, a debtor who intends to-

(a)

prepare a proposal for a Debt Restructuring

Arrangement;

(b)

apply for a Debt Rehabilitation Order; or

(c)

apply for a Bankruptcy Order, may present to the court a Debt Protection Application, in a form which complies with subsections (2) and (3), and any requirements as may be prescribed.

Rescue, Rehabilitation and Insolvency

(2)

The debt protection application of the debtor shall contain the following information:-

(a)

the full name, date of birth, and residential address of the debtor;

(b)

any trading names or any registered business names and addresses of any business carried on by the debtor;

(c)

consent of the debtor in writing-

(i)

to the making of any enquiries relating to the debtor by the Official Receiver; and

(ii)

to the disclosure and processing of personal data of the debtor by the Official Receiver, to the extent necessary, and in compliance with the terms of the Data Protection Act, No. 9 of 2022.

(3)

The application shall include the following information to the extent that the information is known by the debtor, and is relevant to the case:-

(a)

details of the creditors of the debtor and the relevant debts owed to each creditor;

(b)

details as to any security held by any creditor, and the nature of the security held by a creditor;

(c)

details of any debt collection agent or other third party instructed by a creditor of the debtor for the purposes of collection or enforcement of a debt;

and

(d)

details of any advisor, agent, or representative who has been instructed by the debtor to act on his behalf.

(4)

A debtor, in making the Debt Protection Application, shall take reasonable care to ensure the accuracy of any

Rescue, Rehabilitation and Insolvency information provided, and shall not deliberately withhold relevant information from the application.

Part IV

Debt Restructuring Arrangements

Part V

Debt Rehabilitation Orders

Part VI

Part VII

Personal Insolvency Register

Part VIII

Part IX

Part X

Compromises

Part XI

Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements

Part XII

Part XIII

Part XIV

Cross - Border Insolvency

Part XV

Part XVI

Part XVII

Schedules