Skip to content
srilawsby aturio
As enacted
Contents

Part V · Market Misconduct

129. Stock market manipulations

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

(1)

A person shall not carry out or be involved in carrying out, either directly or indirectly, one or more transactions in securities of a company being transactions that have or are likely to have the effect of artificially-

(a)

raising;

(b)

lowering; or

(c)

pegging, fixing, maintaining or stabilizing, the price or volume of securities of that company traded on an exchange licensed by the Commission or a platform operated by a recognised market operator, for the purpose of inducing other persons whether or not such person is actually induced to acquire or dispose of the securities of the company or of a related company.

(2)

A reference in this section to a transaction in relation to securities of a company traded on an exchange licensed by the Commission or a platform operated by a recognised market operator includes–

(a)

the making of an offer to sell or purchase such securities of the company; and

(b)

the making of an invitation, that expressly or impliedly invites a person to offer to sell or purchase such securities of the company.

Read on from s 130

Part VI

Finance

Read on from Part VI

Part VII

General

Read on from Part VII