186.
| (1) Where a person is convicted of any offence in connection with the promotion, formation or management of a company, or in respect of any offence under Part V or Part VI, or with the offence of fraud and is sentenced to more than three months' imprisonment in respect of such latter offence, the court convicting such person may in, addition to imposing any punishment provided for such offence, order that such person shall-
| | (a) be removed from the office of director ; or | | |
| | (b) be suspended from the office of director for a period specified in such order, | | |
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| (2) In subsection (1) the expression " the court" in relation to the making of an order against any person by virtue of the provisions of paragraph (a) includes the court before which he is convicted, as well as any court having jurisdiction to wind up the company, and in relation to the granting of leave means any court having jurisdiction to wind up the company as respects which leave is sought. |
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| (3) A person intending to make an application, to the court having jurisdiction, for an order under the provisions of this section to wind up a company shall give not less than ten days' notice of such intention to the person against whom the order is sought, and on the hearing of such application the last-mentioned person may appear and himself give evidence or call witnesses. |
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| (4) An application to the court having jurisdiction for an order under the provisions of this section to wind up a company may be made by the official receiver or by the liquidator of the company or by any person who is or has been a member or creditor of the company, and at the hearing of any such application for leave under the provisions of subsection (1) by a person against whom an order has been made, the official receiver or liquidator shall appear and call the attention of the court to any matters which seem to him to be relevant, and may himself give evidence or call witnesses. |
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| (5) An order may be made by virtue of the provisions of subsection (1), notwithstanding that the person concerned may be criminally liable in respect of the matters on the ground of which the order is to be made, and for the purposes of the said subsection (1) the expression " officer " shall include any person in accordance with whose directions or instructions the directors of the company have been accustomed to act. |
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| (6) Any person acting in contravention of an order made under the provisions of this section, shall be guilty of an offence and shall be liable to a fine not exceeding five thou sand 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