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srilawsby aturio
As enacted
Contents

Part VI

97. Offi cial Receiver becomes Bankruptcy Trustee

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

(1)

On the making of a Bankruptcy Order, the Official

Receiver becomes trustee of the property of the bankrupt debtor (hereinafter referred to as the “Bankruptcy Trustee”), unless the court appoints another person under subsection (2).

(2)

If, when the Bankruptcy Order is made, there is a personal insolvency administrator of a Debt Restructuring

Arrangement in respect of the debtor under Part IV the court may on making the Bankruptcy Order appoint the personal insolvency administrator of the Arrangement as Bankruptcy

Trustee.

(3)

Where a person becomes Bankruptcy Trustee under this section, the person must give written notice of that fact to the bankrupt debtor’s creditors or, if the court so allows, advertise it in accordance with the court’s directions.

Rescue, Rehabilitation and Insolvency

Read on from s 98

Part VII

Personal Insolvency Register

Read on from Part VII

Part VIII

Read on from Part VIII

Part IX

Read on from Part IX

Part X

Compromises

Read on from Part X

Part XI

Micro Small Medium Enterprise (MSME) Company Debt Restructuring Arrangements

Read on from Part XI

Part XII

Read on from Part XII

Part XIII

Read on from Part XIII

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