Section No :

Legislative Enactments SECURITIES COUNCIL Marginal Notes 1. This Act may be cited as the Securities and Exchange Commission of Sri Lanka Act, No. 36 of 1987, and shall come into operation on such date (hereinafter referred to as the" appointed date") as may be appointed by the Minister by Order published in the Gazette. 2. Establishment and Constitution of The Securities and Exchange Commission of Sri Lanka. 3. Membership of the Council.[ 2, 47 of 2009] 4. Term of office of appointed members. 5. Removal and Resignation of appointed members.[ 4,26 of 1991] 6. Remuneration of members. 7. Meeting of the Council.[ 5,26 of 1991] 8. Chairman of the Council. 9. Members to disclose any interest in any decision to be made by the Commission 10. Acts not invalidated by reason of a vacancy. 11. Seal of the Commission [ 6,26 of 1991] 12. Objects of the Council.[ 7,26 of 1991] [ 3,18 of 2003] 13. Powers, duties and functions of the Council.[ 8,26 of 1991] [ 4,18 of 2003] [ 3, 47 of 2009] 14. Powers of inspection, &c. of the Council. [ 9,26 of 1991] [ 5,18 of 2003] 14A. Levy of cess. [ 6,18 of 2003] 14B. [ 6,18 of 2003] 15. Grant of a licence as a stock exchange or as a stock broker or stock dealer.[ 8,18 of 2003] 16. Terms and conditions to be complied with for the grant of a licence to a stock exchange. 17. Terms and conditions to be complied with for the grant of a licence to a stock dealer or a stock broker. 18. Terms and conditions to be complied with by an individual for the grant of a 1icennce as a stock or broker or stock dealers. [ 10,26 of 1991] 18A. Furnishing incorrect or false information.[ 11,26 of 1991] 19. Grant of certificate. 19A. Registration of market intermediaries. 20. Renewal of licence. [ 12,26 of 1991] [ 10,18 of 2003] 21. Cancellation of a licence granted to a stock broker or a stock dealer.[ 13,26 of 1991] [ 11,18 of 2003] 21A. Suspension and cancellation of registration [ 12,18 of 2003] 22. Appeal to the Court of Appeal.[ 14,26 of 1991] [ 13,18 of 2003] 23. Consequence of death, resignation, expiration &c. of a licensed stock broker or a licensed stock dealer. [ 15,26 of 1991] 23A. Taking overadministration and management of licensed stock exchange.[ 16,26 of 1991] 24. In case such rules are disallowed the Commission shall give reasons for such disallowance.[ 17,26 of 1991] 25. Alteration of any particulars furnished. [ 18,26 of 1991] [ 14,18 of 2003] 26. [ 19,26 of 1991] 27. Lending or borrowing of securities without consent of customer prohibited. 28. Purchase sale, &c. of listed securities.[ 20,26 of 1991] [ 15,18 of 2003] 28A. Prohibition against the listing of shares in certain cases. [ 16,18 of 2003] 29. Trading or Otherwise dealing in listed securities by licensed stock brokers and licensed stock dealers.[ 21,26 of 1991] 29A. lssue of securities. [ 17,18 of 2003] 30. Use of words stock exchange stock broker" of stock dealer ".[ 22,26 of 1991] 31. [ 18,18 of 2003] 31. Grant of a licence to operate a unit trust. [ 20,18 of 2003] 31A. Requirements to be complied with for the purpose of granting a licence to operate a unit trust. [ 21,18 of 2003] 31B. Withdrawal of approval of trustee. [ 22,18 of 2003] 31C. Grant of licence. [ 23,18 of 2003] 31D. Cancellation of a licence granted to a managing company [ 24,18 of 2003] 31E. Appeal from a refusal, cancellation or suspension. [ 25,18 of 2003] 31F. Amendment of trust deed relating to unit trust.[ 26,18 of 2003] 31G. Alteration of any particular furnished. [ 27,18 of 2003] 31H. Restriction on use of words " unit trust " [ 28,18 of 2003] 31I. Restriction on issue of advertisement inviting investment in unit trust.[ 29,18 of 2003] 31J. Limitation of liability of trustee for breaches of trust. [ 30,18 of 2003] 32. Prohibition on trading in listed securities by insiders, &c. [ 24,26 of 1991] 33. prohibition on anuse of information obtained in official capacity.[ 25,26 of 1991] 33A. Offences under this Part.[ 31,18 of 2003] 34. Interpretation of this Part. [ 32,18 of 2003] 35. Fund of the Council. [ 26,26 of 1991] [ 33,18 of 2003] 36. Financial year. 37. Audit of Accounts. 38. Compensation Fund. [ 27,26 of 1991] [ 34,18 of 2003] 39. Appointment of Compensation Committee [ 28,26 of 1991] 40. Application for compensation. [ 35,18 of 2003] 41. Payment of Compensation. 42. Director-General. [ 29,26 of 1991] 43. Staff of the Council. 44. Appointment of officers and servants of public corporations to the staff of the Council. 45. Production of documents and disclosure of information. [ 36,18 of 2003] 46. Establishment of Committee to hear Complaints of share holders.[ 30,26 of 1991] [ 37,18 of 2003] 46A. Inquiries and investigations.[ 38,18 of 2003] 47. Members and employees of the Commission deemed to be public servants. [ 39,18 of 2003] 48. Commission deemed to be a Scheduled institution within the meaning of the Bribery Act. 49. Furnishing of information, &c. to the Minister. 50. Protection for section taken under the Act. 50A. Threatening intimidating defaming members of the Commission, &c. [ 40,18 of 2003] 51. Offences. [ 31,26 of 1991] [ 41,18 of 2003] 51A. Compounding of offences.[ 32,26 of 1991] 52. Regulations made by the Minister. 53. Rules made by the Council.[ 33,26 of 1991] [ 42,18 of 2003] 54. Amendment to the Companies Act, No. 17 of 1982. 55. Interpretation. [ 34,26 of 1991] [ 43,18 of 2003] [ 4, 47 of 2009]