219.
| (1) Where an order of a court made under the provisions of section 210 or section 211 terminates, sets aside, or modifies an agreement such as is referred to in paragraph (d) or paragraph (e) of section 216
| | (a) the order shall not give rise to any claim whatsoever against the company by any person for damages or for compensation for loss of office or in any other respect, either in pursuance of the agreement or otherwise ; and | | |
| | (b) no managing director or other director, agent, secretary or manager whose agreement is so terminated or set aside and no person who, at the date of the order terminating or setting aside the agreement was, or subsequently becomes, an associate of such agent or secretary shall, for a period of five years from the date of the order terminating the agreement, be appointed, or act, as the managing director or other director, agent, secretary, or manager of the company, unless with the leave of the court. | | |
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| (2)
| | (a) Any person who knowingly acts as a managing director or other director, agent or secretary or manager of a company in contravention of the provisions of paragraph (b) of subsection (1) shall be guilty of an offence and shall be liable to a fine not exceeding five thousand rupees or to imprisonment of either description for a term not exceeding six months or to both such fine and imprisonment. | | |
| | (b) Where an offence under the provisions of this section is committed by a body of persons
| | | (i) if the body of persons is a body corporate, every director and officer of that body corporate shall be deemed to be guilty of such offence ; and |
| (ii) if the body of persons is a firm, every partner of the firm shall be deemed to be guilty of such offence : |
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Sri Lanka Consolidated Acts