368.
| (1) Where the winding up of a company is not concluded within one year from the date of its commencement, the liquidator shall, at such intervals as may be prescribed, until the winding up is concluded, send to the Registrar a statement in the prescribed form and containing the prescribed particulars with respect to the proceedings in and position of the liquidation. |
|
| (2) Where a liquidator fails to comply with the provisions of this section, he shall be guilty of an offence and shall be liable to a fine not exceeding five hundred rupees for each day during which the default continues. |
|
|
Sri Lanka Consolidated Acts