67.
| (1) Subject to confirmation by the court, a company limited by shares or a company limited by guarantee and having a share capital may, if so authorized by its articles, by special resolution reduce its share capital and also may
| | (a) extinguish or reduce the liability on any of its shares in respect of share capital not paid up ; or | | |
| | (b) either with or without extinguishing or reducing liability on any of its shares cancel any paid-up share capital which is, lost or unrepresented by available assets; or | | |
| | (c) either with or without extinguishing or reducing liability on any of its shares, pay off any paid-up share capital which is in excess of the wants; of the company, | | |
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| (2) A special resolution made under the provisions of subsection (1) is in this Act referred to as "a resolution for reducing share capital". |
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Sri Lanka Consolidated Acts