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srilawsby aturio
As enacted
Contents

Part XIII

406. Removal of receiver from offi ce by court

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 (3) of section 405 and where the court is satisfied that a receiver –

(a)

has failed to comply with an order made under paragraph (a) of subsection (2) of section 405; or

(b)

has ceased to be permitted under section 370 to be appointed or act as receiver, the court may make an order removing the said receiver from office, and in making such an order, may, where necessary, make any other ancillary order.

(2)

A copy of every order made under subsection (1) shall, within five working days after the making of the order, be sent by the court to the Registrar and Authority.

Read on from s 407

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