Sri Lanka Consolidated Acts

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Companies (Special Provisions) Law (No. 19 of 1974) - Sect 6

Vesting Order under this Part

6.
(1) The Minister may from time to time, by Order published in the Gazette (in this Part referred to as a " vesting Order under this Part "), vest in the Government, with effect from such date as shall be specified in the Order, the whole or any part of the undertaking of any such company as shall be specified in the Order, being a company, other than an exempted company, which, on the appointed date, is not incorporated under the principal enactment.
(2) Before a vesting Order under this Part takes effect, the Minister may, by Order published in the Gazette-
(a) alter or amend such Order; or
(b) alter the date on which such Order takes effect.
(3) A vesting Order under this Part shall have the effect of giving the Government absolute title to the whole or part, as the case may be, of the undertaking of any such company to which such Order applies as shall be specified in such Order with effect from such date as shall be specified therein, and free from all encumbrances.
(4) Subject to any Order by the Minister published in the Gazette under subsection (2), a vesting Order under this Part shall be final and conclusive, and shall not be called in question in any court or tribunal.


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