10. Amendment of section 20 of the principal enactment

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

Section 20 of the principal enactment as amended by Act No. 26 of 1991 is hereby further amended as follows :—

(1)

in subsection (1) of that section by the substitution for the words “within six months prior to the expiry”, of the words “six months prior to the expiry” ;

‘Registration of market intermediaries.

Securities and Exchange Commission of Sri Lanka

“Suspension and cancellation of registration.

(2)

by the repeal of subsection (2) of that section and the substitution therefor of the following subsection :—

“(2)

A licensed stock broker, a licensed stock dealer or a registered market intermediary may three months prior to the expiry of the licence or the registration as the case may be, make an application to the Commission in the prescribed form, together with the prescribed fee for a renewal of his licence or the registration as the case may be. ”; and

(3)

in subsection (3) of that section, by the repeal of all the words from “ a renewal of a licence,” to “as the case may be, ” and the substition of the following therefor :—

“a renewal of a licence or registration, the

Commission shall satisfy itself that the licensed stock exchange, the licensed stock broker, the licensed stock dealer or the registered market intermediary, as the case may be,”.

Read on from s 11