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As enacted
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5. Amendment of section 14 of the principal enactment

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

Section 14 of the principal enactment as amended by

Act, No. 26 of 1991, is hereby further amended as follows :–

(1)

by the repeal of paragraph (a) of that section and the substitution therefor of the following paragraph :–

“(a)

carry out inspections of the activities of licensed stock exchanges, licensed stock brokers, licensed stock dealers, licensed managing companies or trustees of unit trusts or registered market intermediaries, in order to determine whether they are operating in conformity with the provisions of this Act

Securities and Exchange Commission of Sri Lanka or any regulations or rules made thereunder and to charge the costs incurred in carrying out such inspections from the licensed stock exchange, licensed stock broker, licensed stock dealer, licensed managing company or trustee of a unit trust or registered market intermediary as the case may be, whose activities are being inspected ; ” ;

(2)

by the substitution in paragraph (b) of that section for the words “ licensed stock exchanges, stock brokers, stock dealers and the managing companies of licensed unit trust”, of the words “licensed stock exchanges, licensed stock brokers, licensed stock dealers, licensed managing companies of unit trusts and registered market intermediaries ” ; and

(3)

by the substitution in paragraph (c), of that section for the words “the managing company of a licensed unit trust” and “the prescribed particulars.”, respectively, of the words “the licensed managing company of a unit trust ” and “such particulars as may from time to time be determined by the

Commission .”.

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