257.
| (1) An application to the court for the winding up of a company shall be by petition, presented subject to subject to the provisions of this section either by the company, or by any creditor or creditors (including any contingent or prospective creditor or creditors), contributory or contributories, or by all or any of those parties, jointly or separately :
| | Provided that-
| | | (a) a contributory shall not be entitled to present a winding-up petition unless
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| (b) a winding-up petition shall not, where the ground of the petition is default in delivering the statutory report to the Registrar or in holding the statutory meeting, be presented by any person except a shareholder, and before the expiration of fourteen days from the last day on which the meeting ought to have been held ; and |
| (c) the court shall not give a hearing to a winding-up petition presented by a contingent or prospective creditor until such security for costs has been given as the court thinks reasonable and until a prima facie case for winding up has been established to the satisfaction of the court; and |
| (d) the Registrar may present a winding-up petition in the case of a company referred to in subsection (3) of section 166. |
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| (2) Where a company is being wound up voluntarily or subject to supervision, a winding-up petition may be presented by the official receiver attached to the court as well as by any other person authorized in that behalf under the provisions of this section, but the court shall not make a winding-up order on the petition unless it is satisfied that the voluntary winding up or winding up subject to supervision cannot be continued with due regard to the interests of the creditors or contributories. |
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| (3) Where under the provisions of this Part any person as being the husband of a female contributory is himself a contributory, and a share has during the whole or any part of the six months referred to in sub-paragraph (ii)of paragraph (a) of the proviso to subsection (1), been held by or registered in the name of the wife, or by or in the name of a trustee for the wife or for the husband, such share shall, for the purposes of this section, be deemed to have been held by and registered in the name of the husband. |
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Sri Lanka Consolidated Acts