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srilawsby aturio
As enacted
Contents

Part XIII

403. Order regarding remuneration or appointment of receiver

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

(1)

On the application of a person referred to in subsection (2), the court may –

(a)

in respect of any period or activity for which the remuneration of a receiver has not been

Rescue, Rehabilitation and Insolvency determined under subsection (1) of section 389, fix such remuneration at a level that is reasonable in the circumstances;

(b)

declare whether or not a receiver was validly appointed in respect of any property or whether or not receiver has validly entered into the possession or custody or assumed control of any property.

(2)

Any of the following persons may make an application to the court under subsection (1) –

(a)

the receiver or a person to be appointed as receiver;

(b)

a liquidator or provisional liquidator;

(c)

an administrator or deed administrator;

(d)

the grantor;

(e)

a creditor of the grantor;

(f)

any other person with an interest in the property in receivership;

(g)

with respect to paragraph (b) of subsection (1), the Registrar; or

(h)

the Authority.

(3)

The powers conferred under subsection (1) may be exercised whether or not the receiver has ceased to act as receiver when the application is made.

Read on from s 404

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