Sri Lanka Consolidated Acts

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Companies Act (No. 17 of 1982) - Sect 326

Fixing of liquidators’ remuneration and ceaser of directors’ powers

326.
(1) The committee of inspection, or where there is no such committee, the creditors, may fix the remuneration to be paid to the liquidator or liquidators.
(2) On the appointment of a liquidator, all the powers of the directors shall cease, except so far as the committee of inspection, or where there is no such committee the creditors, sanction the continuance thereof.

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