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As enacted
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Contents

Part VIII · Offences and Penalties

30. Protection of market-sensitive information

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

When the disclosure of information contained in administrative acts, contracts, agreements or documentation related to the issuance, placement or repurchase of

Government debt securities, could generate losses or conditions unfavourable to the interests of the Government, the respective administrative acts, contracts, agreements or documentation may be declared secret and reserved by the

Office, until the information prior to the auction or respective transaction is provided in the market in the case of placement and repurchase. Immediately thereafter, all information shall be published.

(2)

Any person who is involved in the implementation of the provisions of this Act and thereby becomes aware of, or has access to, information about intended activities or public debt operations, of which information the person knows are of confidential nature or should reasonably suspect, is obliged to maintain the confidentiality of such information, except to the extent that a legal obligation shall require the communication of such information prior to the intended activities or public debt operations.

(3)

Any person who contravenes the provisions of subsection (1) or subsection (2) commits an offence and shall on conviction by a competent court, be liable to a fine not exceeding twenty five thousand rupees or to a term of imprisonment not exceeding three months or to both such fine and imprisonment.

Part IX

General

Read on from Part IX