Sri Lanka Consolidated Acts

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Companies Act (No. 17 of 1982) - Sect 85

Right of debenture holders and share holders to inspect register of debenture holders and to have copies of trust deed,

85.
(1) Every company which has issued debentures shall maintain a register of holders of debentures of the company, The register shall, except when duly closed (but subject to such reasonable restrictions as the company may in general meeting impose so that not less than two hours in each day shall be allowed for inspection), be open to the inspection of the registered holder of any such debentures or any holder of shares in the company without fee, and of any other person on payment of a fee of ten rupees or such less sum as may be specified by the company.
(2) For the purposes of subsection (1), a register shall be deemed to be duly closed if closed in accordance with the provisions contained in the articles or in the debentures, or in the case of debenture stock, in the stock certificates, or in the trust deed or other document securing the debentures or debenture stock, during such period or periods, not exceeding in the whole thirty days in any year, as may be therein specified.
(3) Any such registered holder of the debentures or holder of shares as aforesaid or any other person may require a copy of the register of the holders of debentures of the company or any part thereof to be furnished on payment of a sum not exceeding one rupee for every hundred words required to be copied.
(4) A copy of any trust deed for securing any issue of debentures shall be forwarded to every holder of any such debentures at his request on payment in the case of a printed 'rust deed of the sum of ten rupees or such less sum as may be specified by the company, or, where the trust deed has not been printed, on payment of a sum not exceeding one rupee for every hundred words required to be copied.
(5) Where inspection of the register is refused or a copy as aforesaid is refused or not forwarded, the company and every officer of the company who is in default shall be guilty of an offence and shall be liable to a fine not exceeding two hundred and fifty rupees and further shall be liable to a fine of twenty rupees for every day the default continues.
(6) Where a company is in default as referred to in sub section (5) the court may by order compel an immediate inspection of the register or direct that any copy required as aforesaid shall be sent to the person requiring them.

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