228.
| (1) Any reference to court by the Registrar under the provisions of section 226 or section 227 of any matter shall be in the form of a petition setting out such facts and circumstances as are available for the adjudication of the matter. The Registrar may annex to such petition such documents as he may deem necessary or relevant. |
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| (2) On receipt of the petition of the Registrar under the provisions of subsection (1), the court shall issue notice on the company to show cause why the company should not become a public limited liability company under the provisions of this Part. |
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| (3) The company shall upon receipt of the notice referred to in subsection (1), file a statement of objections and the court shall thereupon fix a date for hearing and adjudication of the matter. The court shall give any matter referred to court under the provisions of section 226 or section 227 by the Registrar priority over other cases listed before it and dispose of such matter with the least possible delay. The court shall have power to summon witnesses and hear evidence as in civil suits and rules of procedure applicable to civil suits shall with such modifications as the court deems necessary, apply to any matter so referred to court. |
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| (4) The adjudication by the court of any reference made to it under the provisions of section 226 or section 227 may be subject to such terms and conditions as the court may impose, and the court may, if it considers it necessary in the circumstances, give such directions, including directions for the alteration of the company's memorandum of association and articles of association, the alteration or variation of the share capital of the company and the proportion of the shares that should be offered to the public. |
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| (5) Notwithstanding any adjudication made by the court under subsection (4), the Registrar shall be entitled at any time to make any application to the court to review and revise any order made by such court under the aforesaid subsection. |
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Sri Lanka Consolidated Acts