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srilawsby aturio
As enacted
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Part II · Markets and Market Institutions

31. Listing requirements of a licensed exchange

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

(1)

Where an exchange decides to list its own securities on such exchange, it shall obtain the prior approval of the Commission and the Ministry of Finance.

(2)

The Commission shall grant approval to the exchange to list its securities on such exchange on being satisfied that the exchange has complied with all the necessary listing requirements of the exchange.

(3)

On such approval being granted, such exchange shall enter into an arrangement as the Commission may require-

(a)

for dealing with possible conflicts of interest that may arise from the listing on such exchange;

(b)

for the purpose of ensuring the integrity of trading of securities of such exchange; and

(c)

for compliance with obligations as a listed company if such exchange was to become a listed company, and such exchange shall comply with such requirements.

(4)

The listing requirements of such exchange shall be deemed to allow the Commission, instead of such exchange to make decisions and to take action, relating to-

(a)

the admission to or removal of the exchange from the official list of such exchange;

(b)

the stopping or suspension of the securities of the exchange from being listed or traded on such exchange; or

(c)

the continuing listing requirements or such other matters as the Commission deems fit for the purpose of subsection (1).

(5)

An arrangement under subsection (3) may provide for the exchange to pay such fees to the Commission as the

Commission may determine for services provided by the

Commission under the arrangement or otherwise.

(6)

Without prejudice to the powers of the Commission to approve or amend the rules of an exchange, the

Commission may by notice in writing-

(a)

modify the listing requirements of such exchange for the purpose of applying for a listing or trading of the securities of such exchange; or

(b)

exempt such exchange from any listing requirement.

CHAPTER 2

CLEARING HOUSE

Read on from s 32

Part III

Issue of Securities

Read on from Part III

Part IV

Trade In Unlisted Securities

Read on from Part IV

Part V

Market Misconduct

Read on from Part V

Part VI

Finance

Read on from Part VI

Part VII

General

Read on from Part VII