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As enacted
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Contents

Part VII · General

168. Inquiry by Complaints Resolution Committee

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

(1)

The Commission shall establish a Complaints

Resolution Committee to hear complaints by any person relating to the professional misconduct or the breach of any provision of this Act, regulations, rules made thereunder or directives issued on a market institution, market intermediary, listed public company or a registered person or any other person who comes under the regulatory purview of the Commission.

(2)

The Commission or any person duly authorised by the Commission may hold such inquiries as it or he may consider necessary or expedient for the exercise, performance and discharge of the powers, duties and functions of the

Commission under this Act and for such purpose summon and call upon any person to appear before the Complaints

Resolution Committee to give evidence or to produce any books or documents in the possession or control of such person as are required for the purpose of such inquiries.

(3)

The Commission shall establish appropriate processes and procedures for handling such complaints, and all matters related thereto by rules.

(4)

The Complaints Resolution Committee may on receipt of any written complaint made by a person, examine the evidence produced to find whether any provision of this

Act, regulations, rules or directives made thereunder or any rules of a market institution has been contravened.

(5)

Where the Committee finds that a market institution, market intermediary, listed public company or registered person has contravened a provision under this Act, regulation, rule or directive issued thereunder or rules of a market institution, the Complaints Resolution Committee shall convey such finding with a recommendation to the

Commission and the Commission shall have the discretion to either give effect to such recommendation or take any other action as it may deem expedient.

(6)

The Commission shall not take any action under this section without affording such market institution, market intermediary, listed public company or registered person an opportunity of being heard.

Read on from s 169