Companies Act 2007 · As enacted · Part XVIII · Overseas Companies
501. Provisions as to expert’s consent and allotment
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
It shall not be lawful for any person to issue, circulate or distribute in Sri Lanka, any prospectus offering for subscription shares in or debentures of a company incorporated outside Sri Lanka, whether the company has or has not established or when formed, will or will not be established, a place of business in Sri Lanka—
if, where the prospectus includes a statement purporting to be made by an expert, he has not given or has before delivery of the prospectus for registration withdrawn his written consent to the issue of the prospectus, with the statement included in the form and context in which it is included, or there does not appear in the prospectus a statement that he has given and has not withdrawn his consent as aforesaid ; or
if the prospectus does not have the effect, where an application is made in pursuance thereof, of rendering all persons concerned bound by all the provisions other than penal provisions of section 47, so far as applicable thereto.
In this section the expression “expert” includes an engineer, a valuer, an accountant and any other person whose profession gives authority to a statement made by him, and for the purposes of this section, a statement shall be deemed to be included in a prospectus, if it is contained in or in any report or memorandum appearing on the face of or by reference incorporated in or issued with, such prospectus.
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