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| (1) In any accounts of a company laid before it at a general meeting or in shall, subject to and in accordance with the provisions of this section, be shown so far as the information is contained in the company's books and papers or the company has the right to obtain it from the persons concerned
| | (a) the aggregate amount of the directors' emoluments ; | | |
| | (b) the aggregate amount of directors' or past directors' pensions ; | | |
| | (c) the aggregate amount of any compensation to directors or past directors in respect of loss of office; and | | |
| | (d) the number of directors who have waived rights to receive emoluments which, but for 'the waiver, would have fallen to be included in the amount shown in those accounts under the provisions of paragraph (a) and the aggregate amount of the said emoluments. | | |
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| (2) For the purposes of the provisions of paragraph (d) of subsection (1)
| | (a) it shall be assumed that a sum not receivable in respect of a period would have been paid at the time at which it was due to be paid ; | | |
| | (b) a sum not so receivable that was payable only on demand, being a sum the right to receive which has been waived, shall be deemed to have been due for payment at the time of waiver. | | |
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| (3) The amount to be shown under the provisions of paragraph (b) of subsection (1)
| | (a) shall not include any pension paid or receivable under a pension scheme if the amount is such that the contributions therefrom are substantially adequate for the maintenance of the scheme, but save as aforesaid shall include any pension paid or recoverable in respect of any such services of a director or past director of the company as are referred to in subsection (2) whether to or by him or, on his nomination or by virtue of dependence on or other connection with him, to or by any other person ; and | | |
| | (b) shall distinguish between pensions in respect of services as director, whether of the company or its subsidiary and other pensions ; | | |
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| (4) The amount to be shown under the provisions of paragraph (c) of subsection (1)
| | (a) shall include any sums paid to or receivable by a director or past director by way of compensation for the loss of office as director of the company or for the loss, while director of the company or on or in connection with his ceasing to be a director of the company, or any other office in connection with the management of the company's affairs or of any office as director or otherwise in connection with management of the affairs of any subsidiary thereof; and | | |
| | (b) shall distinguish between compensation in respect of the office of the director, whether of the company or its subsidiary, and compensation in respect of other offices, | | |
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| (5) The amounts to be shown under the provisions of each paragraph of subsection (1)
| | (a) shall include all relevant sums paid by or receivable from
| | | (ii) the company's subsidiaries; and |
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| | (b) shall distinguish, in the case of the amount to be shown under the provisions of paragraph (c) of subsection (1), between the sums respectively paid by or receivable from the company, the company's subsidiary and persons other than the company and its subsidiaries. | | |
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| (6) The amounts to be shown under this section for any financial year shall be the sums receivable in respect of that year, whenever paid, or, in the case of sums not receivable in respect of a period, the sums paid during that year, so however, that where
| | (a) any sums are not shown in the accounts for the relevant financial year on the ground that the person receiving them is liable to account therefor as. referred to in the provisions of paragraph (a) of subsection (5) but the liability is thereafter wholly or partly released or is not enforced within a period of two years; or | | |
| | (b) any sums paid by way of expense allowance are charged to Sri Lanka income tax after the end of the relevant financial year, | | |
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| (7) Where it is necessary so to do for the purpose of making any distinction required by the provisions of this section in any amount to be shown thereunder, the directors may apportion any payments between the matters in respect of which they have been paid or are receivable in such manner as they think appropriate. |
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| (8) Where in the case of any accounts the requirements of this section are not complied with, it shall be the duty of the auditors of the company by whom the accounts are examined to include in their report thereon, so far as they are reasonably able to do so, a statement giving the required particulars. |
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| (9) In this section any reference to a company's subsidiary-
| | (a) in relation to a person who is or was, while a director of the company, a director also, by virtue of the company's nomination, direct or indirect, of any other body corporate, shall, subject to the provisions of paragraph (b), include that body corporate whether or not it is or was in fact the company's subsidiary ; and | | |
| | (b) shall for the purposes of subsection (2) and (3) be taken as referring to a subsidiary at the time the services were rendered, and for the purposes of subsection (4) be taken as referring to a subsidiary immediately before the loss of office as director of the company. | | |
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Sri Lanka Consolidated Acts