80.
| (1) Every company shall, within two months from Duties of the date of allotment of any of its shares, debentures, or company with debenture stock and within two months from the date on respect which a transfer of any such shares, debentures, or debenture, true stock, is lodged with the company, complete and have ready for delivery the certification of all shares, the debentures, and the certificates of all debenture stock allotted or transferred, unless the conditions of issue of the shares, debentures, or debenture stock provide otherwise. |
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| (2) Where default is made in complying with the provisions of this section the company and every officer of the company who is in default shall be guilty of an offence and shall be liable to a default fine. |
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| (3) Where any company on whom a notice has been served requiring the company to make good any default in complying with the provisions of subsection (1) fails to make good the default within ten days from the date of service of the notice, the court may, on the application of the person en titled to have the certificates, or the debentures delivered to him, make an order directing the company, and any officer of the company to make good the default within such time- as may be specified in the order, and any such order may provide that all costs of and incidental to the application shall be borne by the company or any officer of the company responsible for the default. |
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Sri Lanka Consolidated Acts