388.
| (1) Where-
| | (a) any receiver or manager of the property of a company who has made default in filing, delivering or making any account, document or return or in giving any notice, which a receiver or manager is by law required to file, deliver, make or give, fails to make good the default within fourteen days from the date of service on him of a notice requiring him to do so ; or | | |
| | (b) any receiver or manager of the property of a company who has been appointed under the powers contained in any instrument, has, after being required at any time by the liquidator of the company so to do, failed to render proper accounts of his receipts and payments and to vouch the same and to pay over to the liquidator the amount properly payable to him, | | |
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| (2) In the case of any such default as is referred to in paragraph (a) of subsection (I) an application for the purposes of this section may be made by any member or creditor of the company or by the Registrar and in the case of any such default as is referred to in paragraph (b) of that subsection, the application shall be made by the liquidator, and in either case the order may provide that all the costs of and incidental to the application shall be borne by the receiver or manager, as the case may be. |
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| (3) Nothing in this section shall be taken to prejudice the operation of any enactments imposing penalties on receivers in respect of any such default as is referred in subsection(1). |
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Sri Lanka Consolidated Acts