Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsSavings of pending proceedings for winding up
| 452. Subject as hereinafter provided, the provisions of this Act with respect to winding up shall not apply to any company of which the winding up has commenced before the appointed date, but every such company shall be wound up in the same manner and with the same incidents as if this Act had not been enacted, and for the purposes of the winding up the written law under which the winding up commenced shall be deemed to remain in full force: Provided, however, that where any such company is being so wound up the court may, on application made by the Registrar or by any creditor of the company and where the court is of opinion that it is expedient to do so in the circumstances of the case, make order that any specified provision of this Act with respect to winding up shall apply to the winding up of such company, and may give such incidental or supplemental directions as may appear to the court to be necessary for the purposes of the application of such provision; and where the court makes any such order any provision of this Act specified in the order shall subject to any such directions, apply accordingly. |