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Part V · Debt Rehabilitation Orders

74. Offi cial Receiver to supervise Debt Rehabilitation Order

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

(1)

While a Debt Rehabilitation Order is in effect, the Official Receiver shall manage the case and supervise the financial affairs of the debtor, in furtherance of the goals of the Debt Rehabilitation Order procedure including those specified in section 65.

Rescue, Rehabilitation and Insolvency

(2)

In addition to remaining subject to the obligations of debtors specified in section 32, at any time following an application for a Debt Rehabilitation Order and until a Debt

Rehabilitation Order ceases to have effect, a debtor shall —

(a)

disclose to the Official Receiver such information as the debtor's affairs;

(b)

attend meetings with the Official Receiver;

(c)

notify the Official Receiver as soon as reasonably practicable if such debtor becomes aware of any material error in such debtor’s application, or any material change in such debtor’s circumstances;

and

(d)

do all such other things as the Official Receiver may reasonably require for the purpose of carrying out the functions of the Official Receiver under this section.

(3)

The Official Receiver may carry out an investigation of any matter that appears to the Official Receiver to be relevant for the purpose of carrying out the functions of the

Official Receiver under this section.

(4)

The Official Receiver may require any person to provide such information and assistance, as may be necessary in carrying out the functions of the Official Receiver under this section.

(5)

Any further details as to the procedures to be followed by the Official Receiver in exercising powers under this section may be prescribed.

(6)

The Official Receiver may make an application to the court for directions or an order in relation to any matter arising in connection with a Debt Rehabilitation Order.

Rescue, Rehabilitation and Insolvency

(7)

On an application under subsection (6), the court may—

(a)

give the Official Receiver directions as the court deems appropriate;

(b)

make an order for the enforcement of any obligation of the debtor arising under section 32

of this Act;

(c)

treat the application as an application for termination of the Debt Rehabilitation Order under section 76;

(d)

treat the application as an application for conversion of the Debt Rehabilitation Order under section 77 ; or

(e)

make an order extending the duration of the Debt

Rehabilitation Order for the limited purposes of permitting the Official Receiver to complete an investigation, provided that —

(i)

the court shall specify an alternative date for discharge, which shall be no later than ninety days after the expiry of the initial period of one year from the date of the order; and

(ii)

the court has due regard to any unfairness to the debtor which may result from the extension of the Order period; and to the extent to which an extension will further the goals of the Debt Rehabilitation Order procedure, including those specified in section 65.

Part VI

Part VII

Personal Insolvency Register

Part VIII

Part IX

Part X

Compromises

Part XI

Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements

Part XII

Part XIII

Part XIV

Cross - Border Insolvency

Part XV

Part XVI

Part XVII

Schedules