435,
| (1) Where by any provision in this Act it is provided that a company and every officer of the company who is in default shall be liable to default fine, the company and every such officer shall, for every day during which the default continues, be liable to a fine not exceeding such amount as is specified in such provision or, where the amount of the fine is not so specified, to a fine not exceeding five hundred rupees for every day during which the default continues- |
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| (2) Where any default, refusal or contravention, for which a company or any officer of the company is liable to a default fine is continued after conviction in respect thereof by a court, then, in addition to any such fine as may have been imposed by the court ax the time of such conviction, the court May from time to time, upon the production of a certificate to that effect from the Registrar, impose a further fine under the provisions of subsection (1) for every day during which the default, refusal or contravention, as the case may be, is so continued. |
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| (3) For the purpose of any provision in this Act which provides that an officer of a company who is in default shall be liable to a fine or penalty, the expression " officer who is in default" means any director, manager, secretary or other officer of the company, who knowingly and wilfully authorizes or permits the default, refusal or contravention referred to in that provision. |
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Sri Lanka Consolidated Acts