320.
| (1) Subject to the provisions of section 321, as soon as the affairs of the company are fully wound up, the liquidator shall make up an account of the winding up showing how the winding up has been conducted and the property of the company has been disposed of, and thereupon shall call a general meeting of the company for the purpose of laying before it the account, and giving any explanation thereof. |
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| (2) The meeting referred to subsection (1) shall be called by advertisement in the Gazette, specifying the date, time place, and object thereof, and published at least one month before such date. |
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| (3) Within one week after the meeting referred to in subsection (1) the liquidator shall send to the Registrar a copy of the account, and shall make a return to him of the holding of the meeting and of its date, and where the copy is not sent or the return is not made in accordance with the provisions of this subsection, the liquidator shall be guilty of an offence and shall be liable to a fine not exceeding three hundred and fifty rupees for every day during which the default continues : |
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| (4) The Registrar on receiving the account and either of the returns referred to in subsection (3) shall forthwith register them, and on the expiration of three months from the date of registration of the return the company shall be deemed to be dissolved : |
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| (5) It shall be the duty of the person on whose application an order of the court under the provisions of this section is made, within seven 'days from the date of making of the order, to deliver to the Registrar a certified copy of such order for registration, and where such person fails so to do. he shall be guilty of an offence and shall be liable to a fine not exceeding two hundred and fifty rupees for every day during which the default continues. |
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| (6) Where a liquidator fails, to call a general meeting of the company as required by the provisions of this section, he 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