Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act 2026 · As enacted · Part XVII
463. Amendment of section 213 of the Companies Act
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
Section 213 of the Companies Act is hereby amended –
in paragraph (a) of subsection (1), by the substitution for the words “under this Act”, of
Rescue, Rehabilitation and Insolvency the words and figures “under this Act or under the Rescue, Rehabilitation and Insolvency
in paragraph (b) of subsection (1), by the substitution for the words “involving dishonest or fraudulent acts;” of the words “of dishonesty or fraud;”;
by deleting paragraph (c) of subsection (1);
in paragraph (d) of subsection (1), by the substitution for the words "unsound mind" of the words "unsound mind; or";
in subsection (1), by the insertion immediately after paragraph (d) thereof of the following new paragraph:-
“(e) is the subject of a court order made under section 411 of the Rescue, Rehabilitation and Insolvency (Corporate and Personal)
Act, No. 12 of 2026”;
in subsection (1), by the addition, immediately after the words “ the management of a company,”, of the words and figures “or be appointed or act as an office holder within the meaning of subsection (1) of section 2 of the Rescue, Rehabilitation and
Insolvency (Corporate and Personal) Act, No. 12 of 2026,”; and
by the insertion immediately after subsection (1)
thereof of the following new subsection: -
“ (1a) Where a person is subject to a
Bankruptcy Order made under section 84 or 90
of the Rescue, Rehabilitation and Insolvency such person shall not, prior to being discharged
Rescue, Rehabilitation and Insolvency in terms of section 138 or 139 of the Rescue,
Rehabilitation and Insolvency (Corporate and
Personal) Act, No. 12 of 2026, be a director or promoter of or in any way, whether directly or indirectly, be concerned or take part in the management of a company, or be appointed or act as an office holder within the meaning of subsection (1) of section 2 of the Rescue,
Rehabilitation and Insolvency (Corporate and
Personal) Act, No. 12 of 2026, unless that person first makes an application to obtain the leave of the court. Leave may be given on such terms and conditions as the court thinks fit.”.