20. Section 28 of the principal enactment is hereby repealed and the following section is substituted therefor:-
| 28.
| | (1)
| | | (a) No person holding shares in a public company listed in a licensed stock exchange shall without the prior approval of the Commission, buy, sell, gift or otherwise deal in. such shares except in compliance with the trading procedure adopted by such licensed stock exchange: |
| (b) No shares in a public company listed in a licensed stock exchange shall on the death of the holder of such shares, be registered in the name of any other person except with the approval of the Commission.
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| | (2) No licensed stock exchange, stock broker or stock dealer shall either directly or indirectly, in connection with the purchase, sale or otherwise of any listed securities"
| | | (a) employ any device, or artifice with a view to defrauding any person ; |
| (b) engage in any practice or course of business which would operate as a fraud or deceit upon any person; or |
| (c) make any false or misleading statement in relation to a material tact or omit to state a material fact necessary in order to make any statement made not false or misleading. ". |
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Sri Lanka Consolidated Acts