Securities and Exchange Commission of Sri Lanka (Amendment) Act 2003 · As enacted
14. Amendment of section 25 of the principal enactment
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
Section 25 of the principal enactment as amended by Act No 26 of 1991 is hereby further amended as follows :—
by the repeal of subsection (1) of that section and the substitution therefor of the following subsection :—
“(1)
Where a licensed stock exchange, a licensed stock broker or a licensed stock dealer, as the case may be, proposes to alter any material particulars already furnished or undergoes or intends to undergo a change from the state specified in the application for a licence or the renewal of a licence, as the case may be, as a stock exchange, stock broker or stock dealer, it shall be the duty of such licensed stock exchange, licensed stock broker or licensed stock dealer, as the case may be, to inform the Commission and obtain its prior consent before such alteration or change is effected. ”; and
by the insertion immediately after subsection (1) of that section of the following new subsection :—
“(1A) Where a registered market intermediary proposes to alter any particulars already furnished or undergoes or intends to undergo a change from the state specified in the application for registration or renewal of a registration as a market intermediary, it shall be the duty of such registered market intermediary to forthwith inform the Commission of such alteration or change. ”.