224.
| (1) Where it appears to the Registrar that, in the national interest or in the interest of the national economy, a private limited liability company should be called upon to offer a proportion of its shares to the public he shall issue a notice to such company to show cause why it should not become a public limited liability company under the provisions of this Part. |
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| (2) After the issue of notice under subsection (1), no company shall register any transfer of its shares or make any issue of its shares, save and except any transfer resulting upon the operation of law, so as to defeat the provisions of this Part. |
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| (3) After the issue of notice under subsection (1), no resolution for the winding up, or an application to the court for the winding up of the company or any subsidiary thereof shall be passed by the company or made to the court. |
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Sri Lanka Consolidated Acts