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srilawsby aturio
As enacted
Contents

Part XIII

380. Consent of grantee to sale of property

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

(1)

Where the consent of a grantee is required for the sale of property in receivership and a receiver is unable to obtain that consent, the receiver may apply to the court for an order authorising the sale of the property, either by itself or together with other property.

(2)

On an application under subsection (1), the court may make such order as may be necessary, authorising the sale of the property by the receiver, where the court is satisfied that –

(a)

the receiver has made reasonable efforts to obtain the grantee’s consent; and

(b)

the sale –

(i)

is in the interests of the grantor and the grantor’s creditors; and

(ii)

will not materially adversely affect the interests of the grantee.

Rescue, Rehabilitation and Insolvency

(3)

In making an order under subsection (2), the court may, as necessary –

(a)

impose any term or condition; and

(b)

make any other ancillary order.

Read on from s 381

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