Sri Lanka Consolidated Acts

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Companies Act (No. 17 of 1982) - Sect 329

Duty of liquidator to call meetings of company and of creditors at end of each year

329.
(1) In the event of the winding up continuing for more than one year, the liquidator shall summon a general meeting of the company and a meeting of the creditors at the end of the first year from the commencement of the winding up, and each succeeding year or at the first convenient date within three months from the end of the year or such longer period as the Registrar may allow, and shall lay before the meetings an account of his acts and dealings and of the conduct of the winding up during the preceding year.
(2) Where liquidator fails to comply with the provisions of this section, he shall be guilty of in offence and shall be liable to a fine not exceeding two hundred and fifty rupees.

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