Companies Act 2007 · As enacted · Part VII · Management and Administration Registered Office
197. Use of company information
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
A director of a company who has information in his capacity as a director or employee of the company which would not otherwise be available to him, shall not disclose that information to any person or make use of or act on the information, except—
for the purposes of the company;
as required by law;
in accordance with subsection (2); or
in any other circumstances in which the company’s articles authorise the director to do so.
A director of a company may disclose, make use of or act on information, if—
the director is first authorised to do so by the board under subsection (3); and
particulars of the authorisation are entered in the interests register.
The board authorise a director to disclose, make use of or act on information, if it is satisfied that to do so will not be likely to prejudice the company.
DISCLOSURE OF DIRECTORS’ INTERESTS IN SHARES
Part VIII
Amalgamations
Part IX
Compromises with Creditors
Part X
Approval of Arrangements, Amalgamations, and Compromises by Court
Part XI
Provisions Relating to Offshore Companies
Part XII
Winding Up
Part XIII
Administrators Appointment of Administrator
Part XIV
Floating Charges
Part XV
Receivers and Managers
Part XVI
Registrar-General of Companies and Registration Appointment of Officers
Part XVII
Application of Act to Existing Companies
Part XVIII
Overseas Companies
Part XIX
Advisory Commission
Part XX
Companies Disputes Board
Part XXI
Offences Miscellaneous Offences
Part XXII
Miscellaneous Prohibition of Partnership with More Than Twenty Members
Part XXIII