143.
| (1) Every company shall cause to be kept proper books of account with respect to
| | (a) all sums of money received and expended by the company and the matters in respect of which the receipt and expenditure takes place ; | | |
| | (b) all sales and purchases of goods by the company ; | | |
| | (c) the assets and liabilities of the company. | | |
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| (2) For the purposes of the provisions of subsection (1), proper books of accounts shall not be deemed to be kept with respect to the matters set out in subsection (1) if there are not kept such books as are necessary to give a true and fair view of the state of the company's affairs and to explain its transactions. |
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| (3) The books of account shall be kept at the registered office of the company or at such other place as the directors think fit and shall at all times be open to inspection by the directors, the Registrar or other officer duly authorized in writing by the Registrar or by the auditors of the company or any person duly authorized by the auditors in writing : |
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| (4) Where any person being a director of a company fails to take all reasonable steps to ensure compliance by the company with the requirements of this section, or has by his own wilful act been the cause of any default by the company thereunder, he shall be guilty of an offence and shall, in respect of each such offence, be liable to a fine not exceeding two thousand rupees or to imprisonment of either description for a term not exceeding six months or to both such fine and imprisonment: |
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Sri Lanka Consolidated Acts