13. Replacement of section 22 of the principal enactment

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

Section 22 of the principal enactment as amended by Act No. 26 of 1991 is hereby repealed and the following section is substituted therefor : —

22. (1) Any person aggrieved by the decision of the Commission —

(a)

suspending or cancelling a licence under section 18A ;

(b)

refusing to grant a licence under section 19 or a registration under section 19A ;

(c)

refusing to grant a renewal of a licence or registration as the case may be under section 20; or

(d)

cancelling or suspending a licence or a registration as the case may be, under sections 21 or 21A ;

may appeal against such decision to the Court of Appeal, within fourteen days from the date on which the decision was communicated to such person.

(2)

Until rules are made under Article 136

of the Constitution pertaining to appeals under this section, the rules made under that Article pertaining to applications by way of revision to the Court of Appeal shall apply to every appeal made under subsection (1) of this section.

(3)

The Court of Appeal may, on an appeal made to it under subsection (1), reverse, modify or set-aside the decision made by the

Commission or make such order as the interests of justice may require.”.

“Appeal to the Court of

Appeal

Securities and Exchange Commission of Sri Lanka

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