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As enacted
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Contents

Part V · Market Misconduct

131. Fraudulently inducing persons to deal in securities

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

(1)

A person shall not induce or attempt to induce another person to trade in securities traded on an exchange licensed by the Commission or a platform operated by a recognised market operator, -

(a)

by making or publishing any statement or by making any forecast that he knows to be misleading, false or deceptive;

(b)

by any dishonest concealment of material facts;

(c)

by the reckless making or publishing, dishonestly or otherwise of any statement or forecast that is misleading, false or deceptive; or

(d)

by recording or storing in, or by means of, any mechanical, electronic or other device, information that he knows to be false or misleading in a material particular.

(2)

For the purposes of paragraph (d) of subsection (1), it shall be a defence if the person referred to therein establishes that when the information was recorded or stored, that such person had no reasonable grounds for believing that the information would be available to any other person.

Read on from s 132

Part VI

Finance

Read on from Part VI

Part VII

General

Read on from Part VII