Sri Lanka Consolidated Acts

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Companies (Special Provisions) Law (No. 19 of 1974) - Sect 8

Taking possession of the whole or any part of any undertaking vested in the Government by virtue of the operation of a vesting Order under this Part

8.
(1) A competent authority, or any authorized officer, may take possession, on behalf of the Government, of the whole or any part, as the case may he, of the undertaking of any company vested in the Government by virtue of a vesting Order under this Part.
(2) A competent authority, or any authorized officer, shall, by notice given to the person in possession of any property comprising the whole or any part, as the case may be, of any undertaking of any company vested in the Government by virtue of the operation of a vesting Order under this Part-
(a) inform such person that such authority or officer intends to take possession of such property on behalf of the Government on such date and at such time and place as shall be specified in the notice; and
(b) require such person or his authorized agent to be present on the date and at the time and place so specified, and to allow and assist such authority or officer to take possession of such property on behalf of the Government.
(3) Any notice required to be given to any person tinder the preceding provisions of this section shall be deemed to be given to him if such notice is sent to him by registered letter through the post.
(4) Any person-
(a) who contravenes or fails to comply with the requirements of any notice given to him under this section; or
(b) who wilfully or negligently destroys, damages or impairs, or causes to be destroyed or damaged or impaired, or wilfully conceals or puts away, any property comprising the whole or any part of the undertaking of any company vested in the Government by virtue of the operation of a vesting Order under this Part; or
(c) who prevents or obstructs, or directly indirectly causes any person to prevail obstruct, a competent authority or any authorized officer in taking possession of such property,
(5) The expression "authorized officer", in this Part means any officer appointed by a competent authority to be an authorized officer for the purposes of this Part.


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