202.
| (1) It shall be the duty of any director of a company to give notice to the company of such matters relating to himself as may be necessary for the purposes of sections 198, 200 and 201 except so far as it relates to loans made, by the company or by any other person under a guarantee from or on a security provided by the company, to an officer thereof. |
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| (2)
| | (a) Any notice given under the provisions of sub section (1) for the purposes of section 198 shall be in writing and shall be given within fourteen days from the day on which he knows of the existence of such duty, where he had prior knowledge of such interest or where he had no such prior knowledge within a period of fourteen days from the date on which the existence of such interest comes to his knowledge, and where such knowledge is not indicated at a meeting of directors, the director indicating it shall take reasonable steps to ensure that it is taken up on the agenda and read at the next meeting of directors held after such notice is given. | | |
| | (b) In reckoning the period of fourteen days referred to in the provisions of paragraph (a) any day which is a bank holiday or a public holiday shall be disregarded. | | |
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| (3) The provisions of subsection (1) shall apply
| | (a) for the purposes of section 201, in relation to officers Other than directors; and | | |
| | (b) for the purposes of sections 200 and 201, in relation to persons who are or have at any time during the preceding five years been officers, | | |
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| (4) Any person who makes default in complying with "the preceding provisions of this section shall be guilty of an offence and shall be liable to a fine not exceeding five hundred rupees. |
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Sri Lanka Consolidated Acts