Rescue, Rehabilitation and Insolvency (Corporate and Personal) Act 2026 · පනවන ලද පරිදි · Part XII
309. Contributories’ committee in liquidation
නිල ඉංග්රීසි පරිවර්තනය. සිංහල පාඨය බලපවත්වයි. නිල Sinhala පාඨය විවෘත කරන්න, documents.gov.lk හි නිල PDF
නිල පරිවර්තනයවෙනස් නොකළ පාඨය, Department of Government Printing වෙතින්
At any time during a liquidation and if a liquidation contributories’ committee has not already been established, a liquidator –
shall seek the establishment of a liquidation contributories’ committee, if so requested by a contributory in such manner as may be prescribed; or
may seek the establishment of a liquidation contributories’ committee, on the liquidator’s own motion.
The establishment of a liquidation contributories’
committee and appointments to such a committee require one or more resolutions of contributories adopted at a meeting of contributories –
which, in the case of a request made under paragraph (a) of subsection (1), the liquidator shall hold within seven working days after the liquidator receives the request; and
the notice of which shall –
summarise the matters referred to in this section; and
invite nominations for membership of the liquidation contributories’ committee.
The Fifth Schedule shall apply to a meeting referred to in subsection (2).
If established, a liquidation contributories’
committee –
shall have the following functions : –
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to consult with the liquidator about matters relating to the liquidation; and
to consider reports from the liquidator sent under subsection (5); and
may not give directions to the liquidator.
If a liquidation contributories’ committee is established, the liquidator shall send reports to the committee containing such information, in such manner, and within such periods as may be prescribed.
A person shall not be eligible to be a member of a liquidation contributories’ committee unless the liquidator is satisfied that the person is –
a contributory;
the agent of a contributory under a general power of attorney; or
authorised in writing by a contributory to be a member.
With respect to a liquidation contributories’ committee, the following matters shall be subject to such requirements, restrictions and limitations as may be prescribed –
membership and termination of membership of the committee;
notice of the establishment of the committee and of matters relating to the committee;
the procedure for convening meetings of the committee;
protection of acts, omissions or decisions done or made by members of the committee;
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reimbursement of expenses of members of the committee; and
transactions made by members of the committee and their related parties.
The consequences of defects in the qualifications, nomination or election of members of a liquidation contributories’ committee shall be as may be prescribed.
Where, by reason of vacancies in a liquidation contributories’ committee, the committee is unable to act, the liquidator shall as soon as practicable give written notice of that fact to each known contributory.
Part XIII
Part XIV