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As enacted
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52. Insurers holding a licence to be listed on a licensed stock exchange

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

(1)

Every insurer who on the date of the coming into operation of this Act holds a valid licence issued under section 15 of the principal enactment, shall be required within five years from the date of the coming into operation of this

Act, to have itself listed on a stock exchange licensed under the Securities and Exchange Commission of Sri Lanka Act,

No. 36 of 1987 after having where so required to fulfill the segregation requirements specified in section 53 of this Act.

(2)

It shall be the duty of an insurer upon obtaining a listing on a stock exchange as required by subsection (1) of this section, to forthwith inform the Insurance Board of Sri

Lanka of such fact by a written communication.

(3)

A failure by an insurer to comply with the requirements imposed by this section may, notwithstanding anything to the contrary contained in any provisions of the principal enactment, be a ground for the suspension or cancellation of the licence issued to such insurer.

Read on from s 53