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srilawsby aturio
As enacted
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Part II · Private Companies

28. Company ceasing to be a private company

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

If a private company alters its articles in such a way that the articles no longer comply with the requirments of section 27—

(a)

the company shall cease to be a private company;

(b)

provisions of sections 30 and 31 shall cease to apply to that company; and

(c)

the company shall be deemed to have changed its name in accordance with section 11.

(2)

If a private company fails to comply with the requirements specified in section 27—

(a)

the company shall cease to be a private company;

(b)

provisions of sections 30 and 31 shall cease to apply to that company; and

(c)

the company shall be deemed to have changed its name in accordance with section 11.

(3)

The court may determine that provisions of subsection (2) shall not apply in respect of failure by a private company, where it is satisfied that—

(a)

the failure to comply was due to inadvertence;

(b)

the failure to comply has been rectified; or

(c)

in all the circumstances of the case it is just and equitable to reach such determination.

Read on from s 29

Part III

Companies Limited by Guarantee

Read on from Part III

Part IV

Shares and Debentures Prospectus

Read on from Part IV

Part V

Shareholders and Their Rights and Obligations

Read on from Part V

Part VI

Registration of Charges Registration of Charges with Registrar

Read on from Part VI

Part VII

Management and Administration Registered Office

Read on from Part VII

Part VIII

Amalgamations

Read on from Part VIII

Part IX

Compromises with Creditors

Read on from Part IX

Part X

Approval of Arrangements, Amalgamations, and Compromises by Court

Read on from Part X

Part XI

Provisions Relating to Offshore Companies

Read on from Part XI

Part XII

Winding Up

Read on from Part XII

Part XIII

Administrators Appointment of Administrator

Read on from Part XIII

Part XIV

Floating Charges

Read on from Part XIV

Part XV

Receivers and Managers

Read on from Part XV

Part XVI

Registrar-General of Companies and Registration Appointment of Officers

Read on from Part XVI

Part XVII

Application of Act to Existing Companies

Read on from Part XVII

Part XVIII

Overseas Companies

Read on from Part XVIII

Part XIX

Advisory Commission

Read on from Part XIX

Part XX

Companies Disputes Board

Read on from Part XX

Part XXI

Offences Miscellaneous Offences

Read on from Part XXI

Part XXII

Miscellaneous Prohibition of Partnership with More Than Twenty Members

Read on from Part XXII

Part XXIII

Repeals and Amendments

Read on from Part XXIII

Schedules