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srilawsby aturio
As enacted
Contents

Part XIII

395. Receiver’s indemnity

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

(1)

A receiver is entitled to an indemnity out of the property in receivership, in respect of the receiver’s liability under sections 396 and 397.

(2)

A receiver’s indemnity under subsection (1) has the priority accorded to the costs, charges and expenses properly incurred by and the remuneration of the receiver under paragraph (b) of subsection (4) of section 385 or paragraph (b) of subsection (4) of section 386.

(3)

Nothing in this section shall –

(a)

limit any other right of indemnity to which a receiver may be entitled;

(b)

limit the liability of a receiver on an agreement entered into without authority; or

(c)

confer on a receiver a right to an indemnity in respect of liability on an agreement entered into without authority.

Read on from s 396

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