499. Enforcement of duty to comply with provisions of this Part

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

Where any overseas company has failed to comply with any provision of this Part of this Act, and fails to make good the default within ten working days from the date of service of a notice on the company requiring it to do so, the court may on an application made to the court by the

Registrar or by any creditor of the company or by any other person who appears to the court to be interested, make an order directing the company and any officer of the company to make good the default within such time as may be specified in the order.

(2)

Any order made under subsection (1) may provide that, all costs of and incidental to the application, shall be borne by the company or by any officer of the company responsible for the default.

(3)

Nothing in this section shall prejudice the operation of any enactment imposing penalties on a company or its officers ,in respect of any default referred to in subsection (1).

RESTRICTIONS ON SALE OF SHARES AND OFFER OF SHARE

FOR SALE

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Part XIX

Advisory Commission

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Part XX

Companies Disputes Board

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Part XXI

Offences Miscellaneous Offences

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Part XXII

Miscellaneous Prohibition of Partnership with More Than Twenty Members

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Part XXIII

Repeals and Amendments

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