As enacted

Contents

Companies Act 2007 · As enacted · Part VII · Management and Administration Registered Office

202. Qualification of directors

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

Any person who is not disqualified under subsection (2) of this section, may be appointed as a director of a company.

(2)

The following persons shall be disqualified from being appointed or holding office as director of a company—

(a)

a person who is under eighteen years of age;

(b)

a person who is an undischarged insolvent;

(c)

a person who is or would be prohibited from being a director of or being concerned or taking part in the promotion, formation or management of a company, under the Companies Act, No. 17 of 1982, but for the repeal of that Act;

(d)

a person who is prohibited from being a director or promoter of or being concerned or taking part in the management of a company under section 213 or section 214 of this Act;

(e)

a person who has been adjudged to be of unsound mind;

(f)

a person that is not a natural person;

(g)

in relation to any particular company, a person who does not comply with any qualifications for directors contained in the articles of that company.

(3)

A person who is disqualified from being a director but who acts as a director, shall be treated as a director for the purposes of any provision of this Act that imposes a duty or any obligation on a director of a company.

Read on from s 203

Part VIII