Simplifying Corporate Document Submission in Sri Lanka
Form 20: A Vital Document for Companies in Sri Lanka
In Sri Lanka, there’s a necessary document called Form 20. This document must be sent to the Registrar of Companies within 20 days when a company appoints, removes, or makes changes to the details of a director or secretary.
Directors are people elected by the company’s shareholders to manage the company’s affairs. They can have these roles for either short or long periods. Secretaries, on the other hand, make sure the company follows the rules and act as a link between the company and its directors. Even though their role is mainly administrative, secretaries play a crucial part in keeping the company running smoothly.
Changes in director and secretary roles happen often in companies. When these changes occur, Form 20 is the way to formalize them.
According to Section 223 of the Companies Act No. 07 of 2007, companies in Sri Lanka must send Form 20, along with some necessary documents, to the Registrar of Companies within 20 days of appointing a new director or secretary. These additional documents can be things like resolutions, resignation letters, and in unfortunate cases, death certificates. When appointing a new director, you also need Form 18, and for a new secretary, Form 19 is needed.
Section 223 of the Companies Act No. 07 of 2007 emphasizes that a director must get approval from the company’s shareholders when they are involved in significant transactions or when such transactions are being carried out.
The Companies Act No. 07 of 2007 is a detailed set of laws that govern how companies are formed, managed, and dissolved in Sri Lanka. It covers a wide range of topics like how companies are created, share capital, the role of directors, auditors, mergers, and what happens when a company closes. The Act also allows for changes to old laws related to companies.
We are here to help you with the necessary documents like resolutions, meeting minutes, and resignation letters for these important changes. You can reach out to us through the link provided, and we’ll guide you through this process, making sure your company follows the rules in Sri Lanka.