Companies Act 2007 · As enacted · Part XIII · Administrators Appointment of Administrator
406. Statement of proposals
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
Within two months after the end of the initial period or such longer period as the court may allow, the administrator shall—
prepare a statement of his proposals for achieving the purpose or purposes specified in the order appointing him ;
deliver a copy of the statement to the Registrar ;
send a copy of the statement to all creditors of the company so far as he is aware of their addresses.
The administrator shall call a meeting of creditors to consider the statement, not less than five and not more than ten working days after the date on which copies of the statement had been sent to creditors.
The administrator shall also within two months of the date of his appointment and before the date of the meeting of creditors to consider the statement, either—
send a copy of the statement to all shareholders of the company ; or
give public notice of an address at which shareholders of the company can obtain a copy of the statement free of charge.
Where an administrator fails to comply with the requirements of this section he shall be guilty of an offence and be liable on conviction to a fine not exceeding fifty thousand rupees.
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