460. Duty to notify breaches of any provisions of this Act

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

(1)

A receiver of a company who considers that the company or any director or officer of the company has committed an offence under this Act or the Securities and

Exchange Commission of Sri Lanka Act, No. 36 of 1987, shall report that fact to the Registrar.

(2)

Nothing in subsection (1) shall impose any duty on a receiver to investigate whether any offence of the kind referred to in that subsection has been committed.

(3)

A receiver who fails to comply with the provisions of subsection (1) shall be guilty of an offence and be liable on conviction to a fine not exceeding fifty thousand rupees.

Read on from s 461

Part XVI