10.
| (1) No holder of shares of the company shall transfer such shares to any other person, except after giving prior notice in writing of such proposed transfer to the Public Trustee. |
|
| (2) Any transfer of shares in contravention of the provisions of this Law may be declared void by order of the Public Trustee. Notice of such order shall be sent by the Public Trustee by registered letter through the post to such holder. |
|
| (3) Any person who is aggrieved by an order made by the Public Trustee under subsection (2) relating to a transfer of any share of the company to such person may, within the prescribed period, prefer an appeal against such order to the District Court of Colombo. Such Court may, on such appeal, make a decision either confirming or setting aside such order. Such decision shall be final and conclusive and shall not be called in question in any other court or tribunal, whether by way of action, application in revision, appeal, writ or otherwise. |
|
| (4) Where an order is made by the Public Trustee under subsection (2) relating to the transfer of any share of the company to any person, such person shall have no voting rights in respect of such share until such order is set aside on appeal by the District Court of Colombo. |
|
|
Sri Lanka Consolidated Acts