Companies Act 2007 · As enacted · Part VII · Management and Administration Registered Office
213. Persons prohibited from managing companies
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
Where a person—
has been convicted of any offence under this Act which is punishable by imprisonment;
has been convicted of an offence involving dishonest or fraudulent acts;
is adjudged insolvent under the Insolvency
Ordinance (Cap. 97) ; or
adjudged to be of unsound mind, such person shall not, during the period of five years after the conviction or adjudication, as the case may be, be a director or promoter of or in any way, whether directly or indirectly, be concerned or take part in the management of a company, unless that person first makes an application to obtain the leave of the court. Leave may be given on such terms and conditions as the court thinks fit.
A person intending to apply for the leave of court under this section, shall give to the Registrar not less than ten days’ notice of his intention to apply for such leave.
The Registrar and such other persons as the court thinks fit, may attend and be heard at the hearing of any application under this section.
A person who acts in contravention of this section or of any order made under this section, shall be guilty of an offence and be liable on conviction to a fine not exceeding one million rupees or to a term of imprisonment not exceeding five years or to both such fine and imprisonment.
In this section, the term “company” includes an overseas company which carries on business in Sri Lanka.
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