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Part XV · Receivers and Managers

434. Interpretation

அதிகாரப்பூர்வ ஆங்கில மொழிபெயர்ப்பு. சிங்கள உரை மேலோங்கும். அதிகாரப்பூர்வ Sinhala உரையைத் திறக்கவும், documents.gov.lk-இல் அதிகாரப்பூர்வ PDF

(1)

In this Part of this Act, unless the context otherwise requires—

“creditor” includes a person to whom the grantor owes a debt or is under a liability, whether present or future, certain or contingent and whether an ascertained debt or liability or a liability in damages ;

“grantee” means in relation to an instrument which creates a floating charge, the person entitled to the benefit of the instrument ;

“grantor” means the person in respect of whose property a receiver is or may be appointed ;

“liquidator” means a liquidator appointed under

Part XII ;

“mortgage” includes a charge on property for securing money or money’s worth ;

“mortgagee” includes a person from time to time deriving title under the original mortgagee, but does not include a receiver ;

“preferential claims” means the claims referred to in the Ninth Schedule (except paragraph 1 of that

Schedule) ;

“property” includes—

(a)

movable and immovable property ;

(b)

an interest in movable or immovable property ;

(c)

a debt ;

(d)

any thing in action ;

(e)

any other right or interest ;

“property in receivership” means property in respect of which a receiver is appointed ;

“receiver” means a receiver or a manager or a receiver and a manager in respect of any property, appointed—

(a)

under any instrument ; or

(b)

by the court in the exercise of a power conferred on the court by this Act, whether or not the person appointed is empowered to sell any of the property in receivership, but does not include—

(c)

a mortgagee who, whether personally or through an agent, exercises a power to—

(i)

receive income from mortgaged property ;

(ii)

enter into possession or assume control of mortgaged property ; or

(iii)

sell or otherwise alienate mortgaged property ; or

(d)

an agent of any such mortgagee.

POWER TO APPOINT RECEIVER