Securities and Exchange Commission of Sri Lanka Act 2021 · As enacted · Part I · Chapter 1 Preliminary
20. Staff of the Commission
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
Notwithstanding anything to the contrary in any other written law, the Commission may create cadre positions and employ officers and servants as it considers necessary for the efficient discharge of its functions and may fix their salaries and wages or other remuneration, benefits and pensions of such servants and officers for the purposes of carrying out its functions and duties under the provisions of this Act.
The Commission may establish and regulate pension and provident funds and schemes for the benefit of the
Director-General and its officers and servants and their dependents and nominees with the concurrence of the
Minister assigned the subject of finance and may make contributions to any such fund or scheme.
The Commission shall promote and sponsor the training of technical personnel on the subjects of securities markets, finance, law, money economics and other subjects and for this purpose, the Commission shall be authorised to defray the costs of study, in Sri Lanka or abroad of the officers and servants of the Commission who are of proven merit as determined by the Commission.
The Commission shall establish a code of conduct which shall be applicable to the officers and servants of the
Commission.
The Commission shall not appoint any person to the staff of the Commission where such person-
has been previously found guilty of serious misconduct by a court or tribunal or has been subject to a disciplinary action by a regulatory body;
has been previously dismissed from office; or
has committed a breach of the provisions of this
Act, regulations, rules or directives made thereunder.
At the request of the Commission any officer in the public service may, with the consent of the officer and the
Public Service Commission established by the Constitution be temporarily appointed to the Commission for such period as may be determined by the Commission or with like consent, be permanently appointed to such staff.
Where any officer in the public service is temporarily appointed to the staff of the Commission, the provisions of subsection (2) of section 14 of the National Transport
Commission Act, No. 37 of 1991, shall mutatis mutandis, apply to and in relation to such officer.
Where any officer in the public service is permanently appointed to the staff of the Commission, the provisions of subsection (3) of section 14 of the National Transport
Commission Act, No. 37 of 1991, shall mutatis mutandis, apply to and in relation to such officer.
Where the Commission employs any person who has agreed to serve the Government for a specified period, any period of service to the Commission by that person shall be regarded as service to the Government for the purpose of discharging the obligations of such agreement.
The Commission may with the consent of such officer or servant propose secondment of its officers or servants to other state institutions or regulatory authorities in Sri Lanka or abroad for a period not exceeding three years on an assignment agreed upon between such institution or the authority and the Commission. The period of secondment shall be deemed to be considered as service to the
Commission.
Part II
Markets and Market Institutions
Part III
Issue of Securities
Part IV
Trade In Unlisted Securities
Part V
Market Misconduct
Part VI
Finance
Part VII