Sri Lanka Consolidated Acts

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Companies Act (No. 17 of 1982) - Sect 197

Special resolutions of limited company making liability of directors unlimited

197.
(1) A limited company if so authorized by its articles, may, by special resolution, alter its memorandum so as to render unlimited the liability of its directors, or managers, or of any managing director.
(2) Upon the passing of any such special resolution as is referred to in subsection (1), the provisions of such resolution shall be as valid and effectual as if such provisions had been originally contained in the memorandum.

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