53.
| (1) Whenever a company limited by shares or a company limited by guarantee and having a share capital makes any allotment of its shares, the company shall within one month from the date of such allotment deliver to the Registrar for registration
| | (a) a return of the allotments stating
| | | (i) the number and nominal amount of the shares comprised in the allotment, |
| (ii) the name of each allottee, |
| (iii) the place at which each allottee ordinarily resides. |
| (iv) the place to which any communication intended for each allottee may be sent, |
| (v) a description of each allottee, and |
| (vi) the amount, if any, paid or due and payable on each share ; and |
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| | (b) in the case of shares allotted as fully or partly paid up otherwise than in cash, a contract in writing constituting the title of the allottee to the allotment together with any contract of sale, or for services or other consideration in respect of which that allotment was made, such contracts being duly stamped, and a return stating the number and nominal amount of shares so allotted, the extent to which they are to be treated as paid up, and the consideration for which they have been allotted. | | |
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| (2) Where a contract referred to in subsection (1) is not reduced to writing, the company shall, within one month from the date of allotment, deliver to the Registrar for registration the prescribed particulars of the contract stamped with the same stamp duty as would have been payable if the contract had been reduced to writing, and such particulars shall be deemed to be an instrument within the meaning of the Stamp Ordinance and the Registrar may, as a condition of filing the particulars, require that the duty payable thereon be determined in accordance with the pro visions of Chapter III of that Ordinance. |
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| (3) Where default is made in complying with the provisions of this section, every officer of the company who is in default, shall be guilty of an offence and shall be liable to a fine not exceeding five hundred rupees for every day during which the default continues : |
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Sri Lanka Consolidated Acts