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srilawsby aturio
As enacted
Contents

Part VI

28. Commission may call for further information

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The Commission may call for any further information and documents as may be required with regard to any application made in terms of subsection (1) of section 27 and the applicant shall submit such information and documents within such period of time as may be determined by the Commission and communicated to the applicant.

(2)

Every registration, licence, authorisation or other approval issued or granted by the Commission in terms of this Act shall-

(a)

be in such form as may be determined by the

Commission;

(b)

be granted on payment of a fee in such amount as may be prescribed by taking into consideration inter alia the type of business for which the same is being granted;

(c)

specify the period of validity, if any, of the registration, licence or authorisation or such other approval;

(d)

specify the business to be engaged by an authorised person, in and from the Area of Authority of the

Colombo Port City; and

(e)

specify the conditions, if any, to be attached to such registration, licence, authorisation or such other approval.

(3)

The procedure for –

(a)

approval of an applicant as an authorised person;

(b)

amendment, surrender, transfer, assignment or renewal of a registration, licence or authorisation or other approval at the request of an authorised person; and

(c)

suspension, revocation or cancellation, for good cause, of a registration, licence or authorisation or other approval, granted by the Commission, in the event of a material default or breach by an authorised person, having informed the authorised person the reasons therefor in writing, shall be as prescribed.

(4)

The Commission shall maintain a Register which shall contain details of all authorised persons and the type of registration, licence, authorisation or other approval issued or granted to each of them, in the form and manner as may be determined by the Commission.

Read on from s 29

Part VII

Offshore Companies to Operate Within the Area of Authority of the Colombo Port City

Read on from Part VII

Part VIII

Offshore Banking Business in and from the Area of Authority of the Colombo Port City

Read on from Part VIII

Part IX

Determination and Grant of Exemptions or Incentives for the Promotion of Businesses of Strategic Importance

Read on from Part IX

Part X

Applicability of the Condominium Management Authority Law and the Apartment Ownership Law

Read on from Part X

Part XI

Applicability of the Securities and Exchange Commission Act

Read on from Part XI

Part XII

Estate Manager and Provision of General Services

Read on from Part XII

Part XIII

International Commercial Dispute Resolution Centre

Read on from Part XIII

Part XIV

Priority in Hearing Legal Proceedings

Read on from Part XIV

Part XV

Interim Provisions and Investment Protection

Read on from Part XV

Part XVI

Miscellaneous Provisions

Read on from Part XVI

Schedules