344.
| (1) Where an order is made under the provisions of section 340 for a winding up subject to supervision, the liquidator may, subject to any restrictions imposed by the court, exercise all his powers without the sanction or intervention of the court, in the same manner as if the company were being wound up voluntarily : |
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| (2) A winding up subject to the supervision of the court shall not constitute a winding up by the court for the purpose of the provisions of this Act which are set out in the Eighth Schedule hereto, but, subject as aforesaid, an order for a winding up subject to supervision shall, for all purposes, be deemed to be an order for winding up by the court: |
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Sri Lanka Consolidated Acts