59.
| (1) It shall be lawful for the company to issue at a discount shares in the company of a class of shares already issued: |
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| (2) Where a company has passed a resolution authorizing the issue of shares at a discount, it may apply to the court for an order sanctioning the issue and on any such applica tion the court, if, having regard to all the circumstances of the case, it thinks proper so to do, may make an order sanctioning the issue subject to such terms and conditions as it thinks fit. |
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| (3) Every prospectus relating to the issue of the shares under the provisions of subsection (1) shall contain particulars of the discount allowed or of so much of that discount as has not been written off at the date of the issue of the prospectus. |
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Sri Lanka Consolidated Acts