Sri Lanka Consolidated Acts Sri Lanka Consolidated ActsProhibition of carrying on business with fewer than seven or, in the case of a people's company fifty, members
| 33. Where at any time the number of members of a company is reduced, in the case of a private company, below two, or, in the case of a public company, below seven, or in the case of a people's company, below fifty, and such company carries on business for more than six months while the number is so reduced, every person who is a member of the company during the time that it so carries on business after those six months and is cognizant of the fact that it is carrying on business with fewer than two members, seven members or fifty members, as the case may be, shall be severally liable for the payment of the whole debts of the company contracted during that time, and may be sued severally therefor. |