285.
| (1) A committee of inspection appointed in pursuance of the provisions of this Act, shall consist of creditors and contributories of the company or persons holding general powers of attorney from creditors or contributories in such proportions as may be agreed on by the meetings of creditors and contributories, or, in case of any difference, as may be determined by the court. |
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| (2) The committee shall meet at such times as they, from time to time appoint, provided that a meeting is held at least once in every month. The liquidator or any member of the committee may also call a meeting of the committee as and when such liquidator or member, as the case may be, thinks necessary. |
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| (3) The committee may act by a majority of their members present at a meeting but shall not act unless a majority of the committee are present. |
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| (4) A member of the committee may resign by notice in writing signed by him and delivered to the liquidator. |
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| (5) Where a member of the committee becomes insolvent or bankrupt, or compounds or arranges with his creditors, or is absent from five consecutive meetings of the committee without the leave of those members who together with him self represent the creditors or contributories, as the case may be, his office shall become vacant. |
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| (6) A member of the committee may be removed by an ordinary resolution at a meeting of creditors, if he represents creditors, or of contributories, if he represents contributories, notice of such meeting being given seven days prior to the date, and also stating the objects, of such meeting. |
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| (7) On a vacancy occurring in the committee, the liquidator shall forthwith summon a meeting of creditors or of contributories, as the case may be, to fill the vacancy, and the meeting may, by resolution, reappoint the same or appoint another creditor or contributory to fill the vacancy : |
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Sri Lanka Consolidated Acts