214. Court may disqualify directors

Where a person—

A person intending to apply for an order under this section shall give not less than ten working days’ notice of that intention to the person against whom the order is sought.

An application for an order under this section may be made by the Registrar or by a liquidator or an administrator of a company of which the person against whom the order is sought was a director, or by a person who is or has been a shareholder or creditor of any such company.

An order may be made under this section even though the person concerned may be criminally liable in respect of the matters on the ground of which the order is to be made.

The Registrar of the court shall as soon as practicable after the making of an order under this section, give notice to the Registrar that the order has been made and the Registrar—

Every person who acts in contravention of an 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 “company” includes an overseas company which carries on business in Sri Lanka.