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A company limited by guarantee (CLG) is a type of company where the liability of members in the event the company is wound up is limited to a (typically very small) amount listed in the company's articles or constitution. [1] Most have no share capital, although rare exceptions exist.
Under the Soulbury Constitution, which consisted of The Ceylon Independence Act, 1947 and The Ceylon (Constitution and Independence) Orders in Council 1947, Sri Lanka was then known as Ceylon. [1] The Soulbury Constitution provided a parliamentary form of Government for Ceylon and for a Judicial Service Commission and a Public Service Commission.
In a limited company, the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. In a company limited by shares, the liability of members is limited to the unpaid value of shares. In a company limited by guarantee, the ...
Limited by Guarantee (Ltd./Gte.): a company limited by guarantee (non-profit company) Unlimited (ULtd.): A company with a share capital, similar to its limited company (Ltd., or PLC.) counterparts, but where the liability of the members or shareholders is not limited; Limited Liability Partnership (LLP): Only allowed in the state of Lagos, Nigeria.
In Sri Lanka, the Constitution includes entrenched provisions that require both a ... An example is in the memoranda and articles of a company limited by guarantee, ...
The 20th Amendment was a frequent political objective of the ruling party Sri Lanka Podujana Peramuna and a core campaign objective of the Gotabaya Rajapaksa administration, which recorded landslide victories in both the 2019 Sri Lankan presidential elections, as well as the 2020 Sri Lankan parliamentary election. On 22 October 2020, the ...
The legal system in Sri Lanka comprises collections of codified and uncodified forms of law, of many origins subordinate to the Constitution of Sri Lanka which is the highest law of the island. Its legal framework is a mixture of legal systems of Roman-Dutch law , English law , Kandian law , Thesavalamai and Muslim law .
The Sri Lankan Constitution of 1972 was a constitution of Sri Lanka, replaced by the 1978 constitution currently in force. It was Sri Lanka's first republican constitution, and its second since independence in 1948. The constitution changed the country's name from Ceylon to Sri Lanka, and established it as an independent republic.