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Part XIII · Administrators Appointment of Administrator

412. Qualifications of administrator

அதிகாரப்பூர்வ ஆங்கில மொழிபெயர்ப்பு. சிங்கள உரை மேலோங்கும். அதிகாரப்பூர்வ Sinhala உரையைத் திறக்கவும், documents.gov.lk-இல் அதிகாரப்பூர்வ PDF

(1)

The following persons may not be appointed or act as administrator of a company :—

(a)

a person who is under eighteen years of age;

(b)

a creditor of the company;

(c)

a person who is or who has within the period of two years immediately preceding the commencement of the receivership, been an officer or employee of the company;

(d)

a person who has or who has had within the period of two years preceding the commencement of the administration, an interest whether direct or indirect, in a share issued by the company;

(e)

a person who is an undischarged insolvent;

(f)

a person who has been adjudged to be of unsound mind under the Mental Diseases Ordinance (Cap.

227);

(g)

a person in respect of whom an order has been made under subsection (5) of section 468;

(h)

a person who was prohibited from being a director of or being concerned or taking part in the promotion, formation or management of a company under section 188 of the Companies Act, No. 17 of 1982, or who would be so prohibited but for the repeal of that Act; or

(i)

a person who is prohibited from being a director or promoter of or being concerned or taking part in the management of a company under section 213 or 214.

(2)

A body corporate shall not be appointed or act as an administrator.

(3)

A person who acts in contravention of subsection (1)

or subsection (2), shall be guilty of an offence and be liable on conviction to a fine not exceeding two hundred thousand rupees.