Registered Stock and Securities (Amendment) Act 2004 · As enacted
10. Amendment of section 56A of the principal enactment
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
Section 56A of the principal enactment is hereby amended by the repeal of subsection (2) of that section and the substitution therefor of the following subsections :-
“(2) Any person guilty of an offence under this Ordinance shall be liable on conviction after summary trial before a Magistrate, to
Act, No. 2 of 2004
imprisonment for a term not exceeding five years or to a fine not exceeding ten million rupees or where the offence has resulted in monetary loss or monetary gain or a loss or gain which is quantifiable in monetary terms to any person, to a fine equivalent to twice the value of such loss or gain or to both such imprisonment and fine.
The Central Bank may, with the consent of Court, having regard to the circumstances in which an offence under this Act was committed compound such offence for a sum of money not exceeding rupees five million, or where the offence has resulted in monetary loss or monetary gain or a loss or gain which is quantifiable in monetary terms, to any person, for a sum of money equivalent to one and a half times the value of such loss or gain.
The compounding of an offence under this section shall have the effect of an acquittal.”.