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| Securities And Exchange Commission Of Sri Lanka(Amendment) |
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AN ACT TO AMEND THE SECURITIES AND EXCHANGE COMMISSION OF
SRI LANKA ACT, NO. 36 OF 1987
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BE it enacted by the Parliament of the Democratic Socialist
Republic of Sri Lanka as follows :-
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[22nd September
, 2009 ]
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Short title
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1. This Act may be cited as the Securities and Exchange
Commission of Sri Lanka (Amendment) Act, No. 47 of 2009.
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Amendment of
section 3 of
Securities and
Exchange
Commission of
Sri Lanka Act,
No. 36 of 1987.
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2.
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2. Section 3 of the Securities and Exchange Commission
of Sri Lanka Act, No. 36 of 1987 (hereinafter referred to as the
“principal enactment”) is hereby amended by the repeal of
sub-paragraph (ii) of paragraph (a) of subsection (1) of that
section and the substitution therefor of the following:-
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“(ii) six other persons drawn from the private sector
possessing professional expertise, wide experience
and proven competency in the fields of law, finance,
banking or business in order to reflect the multidisciplinary
character of the Commission.”.
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Amendment of
section 13 of the
principal
enactment.
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3. Section 13 of the principal enactment is hereby
amended by the insertion immediately after paragraph (c)
thereof of the following paragraph:-
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“(cc) to issue general or specific directives to listed public
companies from time to time.”
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Amendment of
section 55 of the
principal
enactment.
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4. Section 55 of the principal enactment is hereby
amended by the substitution for the definition of the
expression “securities” of the following definition:-
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“securities” means debentures, stocks, shares, funds, bonds,
derivatives including futures and options whatever
the nature of the underlying asset relied on or notes
issued or proposed to be issued, by any government or
of any body, whether incorporate or unincorporated,
including any rights, options or interests (whether
described as units or otherwise) therein or in respect
thereof, or any other instruments commonly known as
securities, but does not include bills of exchange or
promissory notes or certificates of deposits issued by a
bank;”.
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Sinhala text to
prevail in case of
inconsistency.
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5. In the event of any inconsistency between the Sinhala
and Tamil texts of this Act, the Sinhala text shall prevail.
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