4. Section 7 of the principal enactment is hereby amended as follows :
| (1) by the repeal of subsection (1) of that section, and by the substitution, of the following subsection therefor: "
| | (1) The authorized capital of the Corporation shall be five thousand million rupees divided into five hundred million ordinary shares of ten rupees each." ; | | |
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| (2) in subsection (2) of that section, by the omission of the words " to the public ", from that subsection; and |
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| (3) by the addition, of the end of that section, of the following subsections:
| | (3) The Corporation shall not allot any shares under subsection (1) or register any shares
| | | (a) in the name of any company, incorporated body or an individual, if such allotment or registration would result in such company, incorporated body or individual owning more than fifteen per centum, of the total issued share capital of the Corporation; |
| (b) in the name of a company and any one or more of the following :
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| (c) in the name of an individual and of any one or more of the following :
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| (4) For the purposes of subsection (3) |
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Sri Lanka Consolidated Acts